Over 50% DPIIT-recognised startups from tier-II and tier-III cities

Around 50 per cent of more than 115,000 startups registered by the Department for Promotion of Industry and Internal Trade (DPIIT) are based in tier-II and tier-III cities, as of December 31, 2023.

The fourth edition of the National Startup Awards (NSA), organised by DPIIT, saw participation from as many as 2,324 startups, incubators and accelerators. This was, however, less than the 2,667 applications in 2022.

Notably, around 58 per cent of this year’s applicants hailed from tier 2 and tier 3 cities.

The states of Gujarat, Karnataka, Kerala, and Tamil Nadu emerged as the “best performers” in developing a startup ecosystem for Indian entrepreneurs.

“India has emerged as a global powerhouse for innovation and achieved multiple milestones in 2023. Over 1.15 lakh startups have now been recognized by DPIIT, and over 12 lakh direct jobs have been created by these recognized startups,” said Union Minister of Commerce and Industry Piyush Goyal.

He added that startups are now being recognized as an important pillar of the economy, which will help in achieving the goal of ‘Atmanirbhar Bharat’.