Page 20 - NIS English 16-31 July,2023

Cover Story
Young India

INDIA HAS BECOME A STARTUP SUPER POWER

Pune's Mayur Patil developed a technology to reduce carbon emissions and
fuel consumption from vehicles. Patented the technology and started a startup
and factory with a grant from the Atal New India Challenge initiative with
colleagues. Similarly, three engineering students who created the success story
of the Purple Revolution and participated in the Republic Day parade, quit
their jobs to start their own startup venture. With the efforts of the decisive
government of the Center along with the strength of the country's youth, the
Startup India program, the number of startups from 442 reached above one
lakh in just nine years, in which about 9 lakh jobs were created...

When India is presiding over the G-20, a new
About 9 lakh jobs created from startup
Startup-20 group has also been started to strengthen
startups at the global level. The group is crafting n More than 9 lakh jobs have been created by startups
an agenda for global leaders to ignite the startup and unicorns till June, 2023 since the launch of Startup
revolution. Due to India's Reform, Perform and India.
Transform, a supportive environment has been n 525% increase in the number of jobs created by startups.
created for investment in the country.
300000
Initiatives to accelerate startup revolution
250000
n Angel tax including 32 rules have been simplified. 1,98,629
n Fund of Funds worth 1,000 crore to raise domestic 200000 1,61,887 2,68,823
venture capital. 1,32,804
n Under 9 labour and 3 environmental laws Startups 150000
are allowed to self-certify their compliance 88,147 Jobs
100000
Know the growing power of startup 43,322
with following statistics
50000
n In the last 8 years, 4 startups were registered every 10
hour in India. 0
n Increase in the number of incubators by 7 times. 2016 2017 2018 2019 2020 2021 2022
n The number of investors increased by 9 times.
n 15 times increase in funding for startups.
n 47% startups are in Tier 2 and Tier 3 cities.
n More than 45% of startups are led by women.

Rise of the Unicorn

Whatever we do on the strong foundation
India ranks third among top
of a developed India in the Amrit Kaal, the
countries of the world
future of New India will be decided, the
n There are 108 unicorns with a combined valuation
direction of the country will be decided.
of $340.79 billion. In the year 2022 alone, 23 unicorns
India's startup revolution will become a
were added.
very important identity of this Amrit Kaal.
n So far $ 94 billion capital has been raised.
n Globally, one out of every ten unicorns is from India,
- Narendra Modi, Prime Minister
with one unicorn being created every month in the
country.
18 New India Samachar July 16-31, 2023