As on 1st December 2017, a total of 5,350 startups have been recognised by the Department of Industrial Policy and Promotion (DIPP) for availing benefits under the Startup India initiative, said commerce and industry ministry.
Additionally, others brief report card and milestones of Start-Up India Initiative launched in 2014 by PM Modi are as follow:
- Under the Fund of Funds for Startups, 75 startups have received funding to the tune of Rs 337.02 crore.
- Further, a 74 startups have been recognised to avail tax exemption under the Income Tax Act, it added.
- Under DIPP-recognised 5,350 startups at least 40,000 people have been employed.
- Learning and Development module of the Startup India program has been used by 1,89,000 individuals so far.
- Startup India Hub has been established as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding.
- The hub has resolved 75,643 queries pertaining to starting a business, access to incubation, and raising funds, among other things.
- Under the Fund of Funds for Startups(FFS, Rs 500 crore was released to SIDBI in 2015-16 and Rs 100 crore in 2016-17.
- The expenditure incurred by DIPP through different activities undertaken by DIPP for Startup India initiative is INR 2.7 crore in Financial Year 2015- 16, INR 4.8 crore in Financial Year 2016-17 and INR 13.2 crore in Financial Year 2017-18.
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