India-Mexico Business Chamber (IMBC)
Startup India
Startup India – Empowering a New Generation of Entrepreneurs
India’s National Startup Movement
Launched by the Government of India, Startup India is a flagship initiative designed to transform India into a global innovation hub. With a mission to foster entrepreneurship, nurture innovation, and generate employment, the program has redefined India’s business landscape—supporting over 140,000 recognized startups as of June 2024.
Under the Make in India umbrella, the country has reached the extraordinary milestone of launching a new startup nearly every hour, proving that India is one of the most dynamic startup ecosystems in the world.
India’s GenAI Startup Revolution
India is rapidly becoming a hub for next-generation technology startups, especially in Generative AI (GenAI). As of 2024:
- 💡 100+ GenAI startups are operating nationwide
- 💰 They have collectively raised over US$600 million since 2019
These ventures are at the forefront of global innovation, redefining how artificial intelligence can empower industries from healthcare to logistics.
BHASKAR – A Unified Portal for Startup Collaboration
In September 2024, the government launched BHASKAR, a centralized digital platform for startups and ecosystem stakeholders. This portal enhances:
- 🤝 Collaboration between startups, investors, and government bodies
- 🛠 Access to resources, policy support, and mentorship
- 📈 Streamlined regulatory processes and communication channels
BHASKAR is poised to become a cornerstone of India’s startup infrastructure.
Inclusive Growth Across All Regions and Communities
Startup India is not limited to metro cities. Its Action Plan actively supports entrepreneurship in:
- 🏙 Tier 1, 2, and 3 cities
- 🏡 Semi-urban and rural areas
- 🤝 Marginalized communities, including SC/ST groups and women
Union Minister Dr. Jitendra Singh recently emphasized that women-led startups will play a pivotal role in strengthening India’s global leadership in innovation.
Key Proposals to Strengthen the Ecosystem
To reinforce India’s leadership in entrepreneurship, DPIIT has outlined strategic priorities:
- ✅ Reduction in Regulatory Compliance Time
- 🚀 Increased Support for Incubators & Accelerators
- 💰 Targeted Financial Incentives & Access to Funding
- 🧪 Creation of Innovation Zones & R&D hubs
- 🏛️ Deeper Government-Startup Collaboration
- 🌐 Participation in Global Startup Summits
These efforts create a fertile ground for scale-ups, foreign investors, and corporate alliances.