 "From 500 to over 159,000 and counting: Nine years of Startup India")
India's startup landscape has witnessed transformative growth over the past decade on the back of key policy interventions and initiatives. From the launch of the 'Startup India' initiative in 2016, to the abolition of angel tax and easing of reverse flipping norms, the startup ecosystem is evolving. As the country celebrates the 9th edition of Startup India, the ecosystem now boasts 159,000 DPIIT recognised startups and 110 unicorns, making it the third-largest globally.
TIMELINE:
- 15 August 2015: PM Modi announced launch of ‘Startup India, Standup India’
- January 2016: Govt officially launched ‘Startup India’
- June 2016: Fund of funds for startup scheme approved with a ~10,000 crore corpus
- 2016: Govt sets up Atal Innovation Mission (AIM) to promote innovation, entrepreneurship
- 2020: Introduction of National Startup Awards to recognise innovative startups
- April 2022: Centre launched ONDC to democratise ecommerce
- July 2023: Draft National Deep Tech Startup Policy released
- July 2024: Angel tax abolished
- Sep 2024: Reverse flipping norms eased with Amendment to the Companies Rules, 2016
- Sep 2024: Bharat Startup Knowledge Access Registry launched
Source: DPIIT and media reports
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