92,683 entities recognised as startups by Govt as of Feb 28

New Delhi: As many as 92,683 entities have been recognised as startups by the Ministry of Commerce and Industry as February 28 this year, Parliament was informed Wednesday.

These startups are eligible for availing tax and non-tax benefits under the Startup India initiative.

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The government, with an intent to build a strong ecosystem for nurturing innovation and startups in the country, launched the Startup India initiative January 16, 2016, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.

“Sustained government efforts in this direction have resulted in increasing the number of recognised startups from 442 in 2016 to 92,683 in 2023 (as on February 28, 2023),” he said.

Over 7,000 recognised startups are in sectors like construction, household services, logistics, real estate and transportation.

The highest number of recognised startups are from IT sector (11,099). It was followed by healthcare and life sciences (8,691), education (5,962), agri (4,653), and food and beverages (4,523).

PTI