On January 16, 2016, PM Modi launched Startup India initiative

PM Modi officially designated January 16 as National Startup Day in 2022

India celebrated eighth anniversary of Startup India program today

On January 16, 2016, Prime Minister Narendra Modi launched the Startup India initiative, aiming to cultivate an environment conducive to innovation, support startups, and drive investments in the nation’s startup sector.

Recognizing the pivotal role of startups in nation-building, socio-economic progress, and fostering self-reliance, PM Modi officially designated January 16 as National Startup Day in 2022.

As we celebrate the eighth anniversary of the Startup India program in 2024, the initiative has grown significantly, with the number of startups expanding from approximately 400 in 2016 to an impressive 1.18 lakh today.

The SIDBI Fund of Funds scheme, established in 2016 with a corpus of Rs 10,000 crore, has successfully funded 3,658 startups, as per data from the Startup India website.

Beyond the Fund of Funds scheme, the Startup India program incorporates a Seed Fund scheme designed to offer financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization.

In the spirit of National Startup Day, the Department for Promotion of Industry and Internal Trade (DPIIT) has announced the winners of the National Startup Awards 2023 and unveiled the results of the 4th edition of the States’ Startup Ranking Framework. These initiatives stand as flagship endeavours under the Startup India program, emphasizing the commitment to recognizing and promoting excellence within the startup ecosystem.