Maharashtra Known as the startup capitals of India, it has surpassed Delhi and Karnataka to claim the top spot in terms of startups created in the last six years and subsequent employability, according to government data.
The data covers the period after January 2016, when the government launched its Startup India initiative.
Responding to questions in the ongoing monsoon session of Parliament, Minister of State for Commerce and Industry Som Prakash said Maharashtra saw the creation of 13,519 startups, creating 1.46 lakh jobs in the period.
Karnataka and Delhi were away in second and third place. The southern state registered 8,881 startups and 1.03 lakh jobs, while the national capital recorded 8,636 startups and 87,643 jobs.
The minister also said that the government does not have any centralized database on investments made by startups, although data from the Indian Private Equity and Venture Capital Association and Praxis Global Alliance have raised a total of $63 billion between 2016 and 2020.
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ET reported in December 2021 That India’s startup ecosystem raked in a record $36 billion in 2021 as demand for digitization multiplied amid the pandemic. UK-based investment data platform Prekin estimated that venture and startup investment in 2021 will more than triple from $11 billion in 2020.
in present,
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dismantling policies
Since 2016, 52 regulatory reforms were undertaken to improve ease of doing business and raise capital and reduce compliance burden for startups.
In addition, the Government of India bears the full fees of the facilitators for any patents, trademarks, or designs, and startups only bear the cost of the statutory fees payable. Startups are given a discount of 80% in filing patents and 50% in filing trademarks as compared to other companies.
Further, Startups which are incorporated on or after 1st April 2016 and have been granted Inter-Ministerial Board Certificate are exempted from Income Tax for a period of three consecutive years out of 10 years since incorporation.
Lastly, startups have now been notified as ‘fast-track firms’, allowing them to cease operations within 90 days as compared to 180 days for other companies.
winter has come
The funding winter came as investor sentiment declined due to several global factors such as the Russo-Ukraine war, rising US interest rates, signs of an impending recession in major economies, and a recovery in publicly traded technology stocks. Is. Indian Startups in 2022.
According to a recent report by CB Insights, for global funding
Startups fall 23% in Q2 of 2022 from Q1Invested $108.5 billion in 7,651 deals.
This is the biggest quarterly percentage drop in deals (and the second biggest drop in funding) in a decade, the report said. Despite the sharp dive, funding and deal numbers remained above 2020 levels.
The US removed nearly half of all funding, with $52.9 billion, a 25% drop from the previous quarter and the lowest in any quarter since 2020.
For India, venture capital (VC) funding in startups fell 37% to $6.9 billion in the second quarter of this year, according to data from research firm Venture Intelligence.
In the first quarter, total investment in startups stood at $11 billion,
ET reported on July 5, For the first half of the year, total investments stood at $17.9 billion, up 36% from the same period last year.