From 400 Startups to Over Two Lakh in a Decade: Union Minister for Commerce and Industry Shri Piyush Goyal Highlights Startup India’s Impact

Government Prioritises Deep Tech as Startups Expand Across 50 plus Sectors; Fund of Funds Strengthens India’s Growing Startup Ecosystem: Shri Piyush Goyal

₹1 Lakh Crore R&D Fund to Propel Deep Tech Research to Global Standards: Shri Piyush Goyal

Startup Revolution Spreads Across India, Driven by Tier-II and Tier-III Cities: Shri Piyush Goyal

Startup Collaboration Gains Prominence in Free Trade Agreement Negotiations as Global Interest in India Grows: Shri Piyush Goyal

DPIIT Announces Results of the fifth National Startup Awards and States’ Startup Ranking

Calling the ten-year journey of Startup India a revolution shaped by millions of dreams and youthful imagination, Prime Minister Shri Narendra Modi said that the initiative has gone far beyond being a government scheme to become a defining movement of new India, while addressing startup founders, innovators, and young entrepreneurs at Bharat Mandapam, New Delhi on National Startup Day, today.

Highlighting that India has emerged as the world’s third-largest startup ecosystem in just ten years, he noted that the number of startups has grown from fewer than 500 in 2014 to over two lakh today, while the count of unicorns has risen from four to nearly 125, with Indian startups increasingly launching IPOs, creating jobs, and attracting global attention.

The Prime Minister said that nearly 44,000 startups were registered in 2025 alone—the highest in any single year—underscoring the accelerating momentum of the ecosystem. Recalling interactions with young innovators from sectors such as agriculture, fintech, mobility, health, and sustainability, he said their ideas, confidence, and ambition reflected a new India focused on solving real-world problems. The Prime Minister expressed satisfaction at meeting the youth and praised their courage to dream big, stating that Startup India has given them an open sky to innovate and that many of the young entrepreneurs present today would themselves become future case studies in India’s startup success story.

Union Minister for Commerce and Industry, Shri Piyush Goyal, while addressing the event said that ten years ago today, the Prime Minister of India presented a new line of thought to the nation, calling upon the youth to transform themselves from job seekers into job generators. He stated that the country is proud to witness this transformation clearly taking shape under the Prime Minister’s leadership.

Shri Goyal recalled that when the Startup India initiative was launched in 2016, there were only about 400 startups in the country. Today, the movement has expanded significantly, with over two lakh startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT). He added that these startups have generated an estimated 21 lakh jobs across the country.

Highlighting the widespread impact of Startup India, the Minister said that during his interactions with students and faculty members at university convocations, he witnesses a new sense of confidence among the youth. He noted that several campuses have transformed into “mini Shark Tanks”, with students eager to convert their ideas into reality. This change, he said, has been made possible through the visionary leadership and constant encouragement of the Prime Minister.

Sharing his experience of engaging with startups at IIT Madras’ Centre for Innovation, Shri Goyal said he was deeply impressed by the enthusiasm, creativity, and problem-solving capabilities of the students. He emphasized that their talent and skills reflect India’s potential to address global challenges and showcase innovation on the world stage.

The Minister noted that Indian startups are currently active in over 50 sectors, including Deep Tech, Artificial Intelligence, Machine Learning, Quantum Computing, Agri-Tech, Space Tech, Drone Technology, Aerospace, and Rocket Technology. He said startups are prospering across all essential and high-impact sectors of the economy.

To strengthen the startup ecosystem, Shri Goyal recalled that the Government constituted a Fund of Funds worth ₹10,000 crore in 2016 to provide seed capital and enable startups to take calculated risks. Following the successful utilisation of the first tranche, a second tranche of ₹10,000 crore was sanctioned in the last Union Budget. He stated that the Government aims to deploy a significant portion of this fund in deep tech and high-tech sectors to further encourage youth entrepreneurship.

The Minister further highlighted that the Prime Minister has announced a ₹1 lakh crore fund dedicated to research, development, and innovation, which will support researchers, scientists, and startups in undertaking advanced research in deep tech at par with global standards.

Shri Goyal pointed out that startups are now present in every corner of the country, with nearly 50 per cent originating from Tier-II and Tier-III cities, demonstrating that the startup revolution has truly become an Indian movement. He cited the North Eastern region as a prime example, noting the commendable work of startups in Sikkim and the collaboration between tea cultivators and youth in Assam to introduce modern farming techniques. In southern India, he said Andhra Pradesh is emerging as the drone capital of the country, while Karnataka and Tamil Nadu have become hubs for deep tech and AI startups.

Stating that the world views India with great optimism, Shri Goyal said that during foreign delegations and Free Trade Agreement negotiations, several countries have expressed keen interest in establishing startup bridges with India. He estimated that nearly 100 countries are seeking to collaborate with India’s startup ecosystem through inter-startup coordination platforms.

The Minister concluded by expressing confidence that the seed of Startup India, sown under the leadership of Prime Minister Shri Narendra Modi, will continue to flourish and play a pivotal role in realizing the vision of Viksit Bharat, a dream shared by 140 crore Indians.

As India completes a landmark decade of the Startup India initiative, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, commemorates ten years of sustained policy-driven efforts to build a strong, inclusive, and innovation-led entrepreneurial ecosystem in the country. The celebrations culminate today, with the observance of National Startup Day and the Result Declaration Ceremony of the 5th editions of the States’ Startup Ranking Exercise and the National Startup Awards, bringing together key stakeholders from across the startup ecosystem.

Launched on 16th January 2016 by Prime Minister, Shri Narendra Modi, Startup India was envisioned as a transformative initiative to nurture innovation, promote entrepreneurship, and enable investment-driven growth with a vision of India being a nation of job creators instead of job seekers.
Over the past ten years, the initiative has emerged as a cornerstone of India’s economic and innovation architecture, strengthening institutional mechanisms, expanding access to capital and mentorship, and fostering an environment where startups can scale across sectors and geographies. In recognition of the critical role played by startups in nation-building, socio-economic development, and self-reliance, the Prime Minister, in 2022, declared 16 January as National Startup Day.

Over the past decade, the Indian startup ecosystem has recorded unprecedented expansion, with more than 2,00,000 startups recognised by DPIIT across the country. These enterprises have emerged as key drivers of employment generation, innovation-led economic growth, and the strengthening of domestic value chains across diverse sectors. Through sustained policy support, institutional facilitation, and ecosystem-wide collaboration, the Startup India initiative continues to advance the national vision of Viksit Bharat @ 2047 by fostering entrepreneurship as a catalyst for inclusive growth, technological advancement, and long-term economic resilience.

As part of the National Startup Day celebrations, DPIIT announced the results of the fifth edition of the National Startup Awards (NSA 5.0) and the States’ Startup Ranking Exercise (SRF 5.0), two flagship initiatives that have emerged as key national platforms for driving ecosystem performance and recognising excellence across the startup landscape.

The National Startup Awards are designed to recognise startups that demonstrate excellence in innovation, scalability, and societal impact, while providing a structured national platform to showcase high-impact enterprises. The fifth edition of the Awards, coinciding with the ten-year milestone of Startup India, reflects the evolving maturity of the ecosystem through the introduction of new and future-oriented award categories. Spread across 20 award categories, this edition of the National Startup Awards include recognition for startups from Tier II and Tier III cities, deep-tech innovation, and emerging sectors aligned with national development priorities.

The States’ Startup Ranking Framework serves as a practical policy and governance tool to assess how effectively States and Union Territories are enabling startup growth on the ground. By encouraging both healthy competition and collaboration among state governments, the framework supports the development of strong, well-functioning startup ecosystems across the country.

The fifth edition of the States’ Startup Ranking Framework builds on lessons from previous editions and places greater emphasis on measurable outcomes, long-term sustainability, and the resilience of startup ecosystems. States and Union Territories are evaluated across six reform areas and nineteen clearly defined action points, covering policy and institutional support, physical and digital infrastructure, access to funding, market access and linkages, capacity building for entrepreneurs and ecosystem stakeholders, and innovation-led growth. Participation from 34 States and Union Territories in the current edition reflects a shared national commitment to improving implementation, strengthening ecosystem maturity, and enabling startups to grow and scale across regions.

The National Startup Awards and the States’ Startup Ranking Exercise have decisively shaped how startup success is recognised and how ecosystem performance is measured across the country. By rewarding high-performing startups and assessing government action at the State level, these initiatives have driven accountability, raised standards, and accelerated the pace of ecosystem development nationwide.

As Startup India completes ten years, this decade stands out for clear policy intent, consistent execution, and growing entrepreneurial confidence. Startups today are not only engines of innovation and job creation but also critical contributors to economic strength and self-reliance, reinforcing India’s position as a leading global destination for entrepreneurship and innovation.

Annexure–I: National Startup Awards (NSA 5.0) – Category-wise Winners

Annexure–II: States’ Startup Ranking Framework (SRF 5.0) Results

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Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas