(MENAFN- KNN India) New Delhi, Dec 26 (KNN) The Ministry of Commerce & Industry announced on Wednesday that India's startup ecosystem now includes over 73,000 startups with at least one woman director, representing approximately half of the 157,066 startups recognised under the Startup India initiative.

This milestone highlights the significant role of women in driving the nation's innovation and economic growth.

India has established itself as the world's third-largest startup hub, boasting more than 100 unicorns. The country's entrepreneurial landscape has undergone a dramatic transformation over the past decade, with cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR emerging as key innovation centers.

The combination of accessible internet and a young workforce has catalysed startup growth across various sectors, including fintech, edtech, health tech, and ecommerce.

According to the Indian Startup Ecosystem Report by Startup India, the country's startups have effectively leveraged emerging technologies such as artificial intelligence, blockchain, and IoT to address both domestic and global challenges.

This innovation ecosystem is supported by a network of incubators, accelerators, and mentoring programs that bridge grassroots challenges with technological solutions.

The government's commitment to nurturing entrepreneurship is evident through multiple initiatives, with the Startup India programme at the forefront since its 2016 launch.

As of December 25, 2024, the Department for Promotion of Industry and Internal Trade has recognised 157,066 startups, with the portal recording 759,303 registered users.

Supporting programs include the Atal Innovation Mission, the National Initiative for Developing and Harnessing Innovations, and the SAMRIDH scheme, which pledges Rs 99 crore to support 300 software product startups over four years.

The success of Indian startups like Byju's, Zomato, Ola, and Nykaa demonstrates the ecosystem's capability to compete globally.

The Ministry highlighted that Indian startups are increasingly forming international partnerships and entering global markets, with the country's leadership in affordable technology solutions, such as UPI and Aadhaar-enabled services, inspiring similar innovations worldwide.

The Ministry concluded by noting that Indian unicorns are outpacing their global counterparts in valuation growth, indicating the robustness and scalability of the ecosystem.

(KNN Bureau)

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