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Startup India Initiative: DPIIT recognizes 7,559 startups in TN by Dec 2023 | Kalvimalar - News

Startup India Initiative: DPIIT recognizes 7,559 startups in TN by Dec 2023- 12-Feb-2024

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Chennai: The Startup India initiative, launched in 2016, aimed to foster innovation and investment by creating a supportive ecosystem for startups nationwide. 


The initiative's Action Plan included 19 items focusing on simplification, funding support, and industry-academia partnerships. Key schemes like the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) supported startups at different stages. 


In Tamil Nadu, SISFS aided 20 incubators with Rs. 43.63 crore, while FFS allocated Rs. 384 crore to 6 funds. CGSS provided Rs. 8.65 crore in loans to 5 startups in the state by December 2023. 


DPIIT-recognized startups in India increased from 300 in 2016 to 117,254 by December 2023, with Tamil Nadu hosting 7,559 recognized startups. 


Som Parkash, Union Minister of State for Commerce and Industry provided this information in a Rajya Sabha reply.



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