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Bharat Startup Ecosystem Registry


Why is it in the news?

  • The government plans to streamline investments into startups via the Bharat Startup Ecosystem Registry.

More about the news

  • It’s part of the StartUp India program, aiming to support India’s startup ecosystem stakeholders.
  • Aims to attract investments from domestic and global players, ensuring transparency.
  • Serves as a comprehensive database for various stakeholders like investors, incubators, academia, government bodies, mentors, and industry bodies.

 

Startup Ecosystem in India

路聽聽聽聽聽聽 India is the 3rd largest startup ecosystem globally with over 1,12,718 Department for Promotion of Industry and Internal Trade (DPIIT)-recognized startups across 763 districts (As of oct 3rd 2023).

路聽聽聽聽聽聽 Ranks 2nd in innovation quality with strong positions in scientific publications and universities’ quality.

路聽聽聽聽聽聽 Over 1 lakh entities recognized as startups under Startup India initiative, with a significant portion having at least one-woman director.

路聽聽聽聽聽聽 Emerging sectors like DeepTech, SpaceTech, AI, and EVs are expanding the startup landscape.

路聽聽聽聽聽聽 Startups contribute to economic growth, employment generation, and community development, addressing sectors like healthcare and green mobility.

 

Initiatives to Support Startups

路聽聽聽聽聽聽 Startup India Initiative (2016): Launched in January 2016 to nurture innovation and encourage investments in India’s startup ecosystem.

路聽聽聽聽聽聽 Access to Incentives: DPIIT-recognized startups gain access to incentives under schemes like Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS).

路聽聽聽聽聽聽 Startup India Seed Fund Scheme (SISFS): Approved for four years from FY22 with an outlay of 鈧945 crore and aims to provide financial assistance to startups for various stages including proof of concept, prototype development, product trials, market entry, and commercialization.

路聽聽聽聽聽聽 Startup Mahakumbh: Organized by the government to showcase India’s startup potential and foster collaboration and growth within the ecosystem.

路聽聽聽聽聽聽 Government’s Push Toward Green Mobility: Creates opportunities for businesses in charging infrastructure, battery recycling, and energy storage solutions.

路聽聽聽聽聽聽 Startup20: Introduction of Startup20 engagement group under India’s G20 presidency which emphasizes the importance of startups in driving economic growth, innovation, and promoting the ecosystem globally.

路聽聽聽聽聽聽 Finance Minister announced a Rs 1 lakh crore fund in the Interim Budget to provide long-term, low-cost, or zero-interest loans for research and development.

路聽聽聽聽聽聽 Atal Innovation Mission and Production-Linked Initiative schemes create an environment conducive to the success and growth of startups.

 

Challenges

路聽聽聽聽聽聽 Regulatory hurdles and difficulties in obtaining approvals hinder startups.

路聽聽聽聽聽聽 Infrastructure inadequacies pose challenges.

路聽聽聽聽聽聽 Talent shortage is a major concern.

路聽聽聽聽聽聽 Rural and social enterprises face investment challenges.

路聽聽聽聽聽聽 In 2023, Indian startups faced significant challenges, raising only $8.3 billion, marking the lowest funding amount since 2016 despite an increase in the number of firms.

 

Conclusion

  • Indian startups operate across various domains including health, climate tech, clean energy, and deep tech.
  • Startups are well-positioned to capitalize on opportunities in sunrise sectors, driving rapid economic growth.
  • Sunrise and sustainable startups have significant potential for impact and scalability, contributing to economic progress.
  • While significant strides have been made, more efforts are required for India to become a global entrepreneurial hub.
  • Incentivization schemes like Drone and Kisan Shakti should be expanded to include emerging technologies in other sectors, fostering innovation and growth.

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