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Number of recognized startups rises to 86,713 as of Dec 2022

As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday.

These startups are eligible for availing a host of incentives, including income tax benefits under the Startup India scheme, launched in January 2016. Under this initiative, entities are recognised as startups by the Department for Promotion of Industry and Internal Trade (DPIIT).

DPIIT-recognised startups have self-reported the creation of over 8.6 lakh direct jobs as on November 30, 2022, since the launch of Startup India, according to the MoCI.

“As a result of sustained government efforts, the number of recognized startups has increased from 445 in 2016 to 86,713 in 2022 (as on December 31, 2022),” Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.


Amid a slowdown in the startup ecosystem, the government’s push keeps it buoyant

In a separate reply, he said in the UT of Ladakh, 1,006 industrial units have been established with total investment of Rs 122.71 crore after bifurcation of erstwhile Jammu & Kashmir state.

On the other hand, Jammu & Kashmir has received investment proposals worth Rs 26,650.49 crore.

Under Startup India, to provide capital at various stages of the business cycle of a startup, the government has implemented Fund of Funds and Startup India Seed Fund schemes.

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