startups: nearly 58% of government-recognized startups in 5 states; Maharashtra Peak List | Jobs Recent

Nearly 58 percent of government-recognised startups are confined to just five states in the country.

The government recognized a total of 84,012 start-ups (as of November 30, 2022). However, the latest government figures showed that nearly 60% of all government-recognized start-ups come from states including Maharashtra, Karnataka, Delhi, Gujarat and Uttar Pradesh.

While Maharashtra tops with 15,571 government-recognized start-ups, states such as Karnataka, Delhi, Uttar Pradesh and Gujarat respectively have 9,904; 9588; 7,719 and 5,877 such entities.

The government, with the intention of building a strong ecosystem to support innovation and start-ups in the country, launched the Start-up India initiative on January 16, 2016. To achieve the goals of the initiative, the government presented the Action Plan for Start-up India, which laid the foundation for government support, programs and incentives envisaged to create a vibrant start-up ecosystem in the country.

The roadmap includes a number of headings covering areas such as ‘Simplification and Guidance’, ‘Financial support and incentives’ and ‘Industry-academia partnership and incubation’.

Discover stories that interest you

As part of the Start-up India Initiative, to provide capital at different stages of the start-up business cycle, the government has implemented the Start-up Funds Fund (FFS) and the Start-up India Seed Fund Scheme (SISFS). Both programs have been implemented throughout India.

The Fund of Funds for Startups program was approved and established in June 2016 with a budget of Rs 10,000 crore, with contributions spread across the 14th and 15th Indian start-up ecosystem and enabling access to indigenous capital.

Under the FFS, the program does not invest directly in start-ups, instead it provides capital to SEBI-registered Alternative Investment Funds (AIFs), known as daughter funds, which in turn invest money in emerging Indian start-ups through equity and equity related instruments. shares.

Small Industries Development Bank of India (SIDBI) was mandated to operate this fund by selecting appropriate subsidiaries and overseeing the disbursement of committed capital. AIFs supported by the FFS are required to invest at least 2 times the amount allocated under the FFS in start-ups.

According to the Ministry of Commerce, as of November 30, 2022, Rs 10,000 crore Rs 7,527.95 crore has been allocated to the AIF in the corpus FFS.

In addition, the Start-up India Seed Fund Scheme has been approved for 4 years starting from 2021-22. The program aims to provide financial assistance to start-ups in terms of proof of concept, prototype development, product trials, market entry and commercialization.

As of November 30, 2022, in SISFS from a corps of Rs. 945 crore, Rs. ₹455.25 crore was approved for 126 incubators out of which Rs. 186.15 crore paid out.

Under the Start-up India initiative, entities are recognized as start-ups by the Department for the Promotion of Industry and Domestic Trade (DPIIT).

The government has also established a Startup Loan Guarantee Program to provide loan guarantees for loans made to DPIIT-recognized start-ups by scheduled commercial banks, non-bank financial firms (NBFCs) and venture capital debt funds (VDFs) under SEBI registered Alternative Investment Funds .



Stay on top of tech and startup news that matter. Subscribe to our daily newsletter to get the latest and must-have tech news delivered straight to your inbox.

Source link