(MENAFN- Trend News Agency)
India ranks globally third in start-ups ecosystem and also in
terms of the number of unicorns with the total number of privately
held start-up companies valued at over $1 billion rising to 105,
Union Minister of State (Independent Charge) Science and Technology
Jitendra Singh said on Friday.
Out of the total 105 unicorns in India, 44 were born in 2021 and
19 in 2022.
Addressing the“DST StartUp Utsav”, the Minister said, the
decade 2021-30 is expected to bring transformational changes for
Indian Science, Technology and Innovation (STI).
Singh said, under Prime Minister Narendra Modi, India has
increased the Gross Expenditure on R&D (GERD) more than three
times in the last few years. He said as per the latest data, India
has over 5 lakh R&D personnel, a number that has shown a 40-50
per cent increase in the last 8 years.
Referring to Prime Minister Modi's launch of Start-up India from
the ramparts of Red Fort in 2015, Singh said, India in its 75th
year of Independence is now home to as many as 75,000
The minister said PM Modi's special focus on Science, Technology
and Innovation has fired the imagination of the youth in the
country to innovate and solve problems with new ideas. He also
pointed out that India's start-ups today are not limited to only
metros or big cities and added that 49 per cent of the start-ups
are from tier-2 and tier-3 cities.
“We have start-ups emerging in the fields like IT, agriculture,
aviation, education, energy, health and space sectors,” he
On the occasion, Singh released 4 publications featuring
promising start-ups under various components of NIDHI including the
flagship programme of Technology Business Incubator (TBI) and a
coffee table book of 51 CAWACH funded start-ups.
The minister said India ranks third among the most attractive
investment destinations for technology transactions in the world as
it has a strong focus on science and technology. He said, India is
among the topmost countries in the world in the field of scientific
research, positioned as one of the top five nations in the field
for space exploration and also actively engaged in emerging
technologies such as quantum technologies, artificial intelligence
Singh said that the Centre for Augmenting WAR with COVID-19
Health Crisis (CAWACH) programme carved out in a record time by DST
just when COVID hit, was the first programme by any department of
the Government of India to support start-ups working on COVID
products and solutions.
He said, overall, the impact and outcome of DST's programme on
innovation and entrepreneurship has been significant: promoting 160
incubators, nurturing 12,000 start-ups including 1627 women-led
start-ups, generating 131,648 jobs. (ANI)
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