Page 26 - NIS English, December 16-31,2022

Cover Story 2022: Year of Willpower

STARTUPS AND UNICORNS:

STRONG PILLARS OF

ATMANIRBHAR BHARAT

India is eager to see its dreams realised. The country
is making one accomplishment after another. In India,
which sees startups and unicorns as a strong link for
Atmanirbhar Bharat, more than 80,000 startups have
been formed in the last eight years, and a new unicorn
is formed every ten days. Because India has become the
world's third-largest startup ecosystem, the number of
unicorns and startups in India has doubled since 2021.

tartups and technology are Unicorns India ranks third in the world
in terms of the total number of
engines of growth in any unicorns, trailing behind only
India has overtaken
Scountry. Recognizing this, China in adding new the United States and China.
Prime Minister Narendra Modi unicorns between There were only 471 startups
announced the Startup India January and July 2022. in the country in 2016, which
programme from the ramparts of During this period, 14 has increased to 83,107 by
the Red Fort in 2015, and it was startup unicorns were November 18, 2022, in more
officially launched on January formed in India while than 56 sectors. At the same
16, 2016. India created a strong only 11 startup unicorns time, the number of unicorns
ecosystem to promote startup were formed in China. has reached 107.
culture, thereby strengthening Recognition Around 5000 startups have
Atmanirbhar Bharat in order been recognised in the Internet
to boost economic growth, In the country, of Things, robotics, artificial
entrepreneurship, and 14,596 startups were intelligence, and space sectors.
employment recognised in 2020, After 2016, the government
improved 52 types of regulatory
India wants to make the and 20,160 new procedures for startups.
digital economy 25 percent of the ones launched their Startups were given 80%
total economy. For this reason, activities in 2021. relaxation in patent filing and
the government is supporting Employment 50% relaxation in trademark
innovation in every sector. This filing as compared to other
is the reason why 49% of the Information about companies. The Government
total startups being formed in the providing 7.5 lakh of India has approved Rs 945
country are coming up in Tier-2 jobs from recognised crore for 4 years, from 2021–
and Tier-3 cities in sectors like IT, startups spread across 2022, under the Startup
649 districts of the
agriculture, aviation, education, country has been given India Seed Fund Scheme
energy, health, and space. in the self-reports of to provide financial
these startups. assistance to startups.

24 New India Samachar December 16-31, 2022