Business Standard

Economic Survey: Start-up jobs increase 6x even as funding declines

Tracxn data shows that investments in domestic start-ups declined by 38.8% to $25.8 bn in 2022


Media reports show that nearly 2,000 employees were laid off by start-ups in the first few weeks of January

Anoushka Sawhney New Delhi
Although funding declined for start-ups in 2022, data from the Economic Survey 2022-23 showed that the number of jobs created by the Department for Promotion of Industry and Internal Trade (DPIIT)-recognised start-ups increased sixfold from 43,000 in 2017 to 269,000 in 2022.

As start-ups faced a funding winter, investments in domestic start-ups declined by 38.8 per cent to $25.8 billion in 2022 from $42.1 billion in 2021, shows data from Tracxn technologies. A similar trend was seen in other countries. Among the nine countries for which data was available, the decline in funding was the highest in Indonesia at 66.2

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First Published: Jan 31 2023 | 10:29 PM IST

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