Centre to organize the first of its kind innovation week to encourage Startup ecosystem in India

What is the News?

The Government of India is organizing the first of its kind innovation week titled “Celebrating Innovation Ecosystem” to encourage the Startup ecosystem in India.

About Celebrating Innovation Ecosystem Week

Organized by: Department for Promotion of Industry and Internal Trade (DPIIT)

Aim: To bring together India’s key startups, entrepreneurs, investors, policymakers and other national or international stakeholders to exchange knowledge on best practices on nurturing startup ecosystems.

Themes: The main themes of the event are international engagements, market access and incubation support, funding support to start-ups.

Significance: The event will also mark the 6th anniversary of the ‘Startup India’ initiative launch.

About Startup India Initiative

Click Here to read about it

Startups in India

As of June 2021, 50,000 startups across have been recognized as startups by DPIIT.

Each State and UT has at least one startup. About 1.7 lakh jobs were created by recognized startups in the 2020-2021 period alone. 

The sectors that had the maximum registered startups were ‘Food Processing’, ‘Product Development’, ‘Application Development’, ‘IT Consulting’ and ‘Business Support Services’. 

The leadership teams of 45% of startups have a woman entrepreneur, a trend that will inspire more women entrepreneurs to turn their ideas into startups.

Source: This post is based on the article “Centre to organize the first of its kind innovation week to encourage Startup ecosystem in India” published in PIB on 12th December 2021.