Govt recognises 98,119 entities as startups as on April 30

The government has recognised as many as 98,119 entities as startups as on April 30 this year, Parliament was informed on Wednesday.

These startups are eligible for availing incentives, including tax benefits under the Startup India scheme. Schemes like Fund of Funds for Startups, Startup India Seed Fund Scheme and Credit Guarantee Scheme support these entities at various stages of their business cycle, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.

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“Since the launch of the Startup India initiative in 2016, DPIIT (Department for Promotion of Industry and Internal Trade) has recognised 98,119 entities as startups as on 30th April 2023,” he said. In a separate reply, he said that as on April 30, Rs 611.36 crore has been approved for 160 incubators by the Experts Advisory Committee (EAC) under e Startup India Seed Fund Scheme. “The approved incubators have selected 1,039 startups for financial support of Rs 176.63 crore,” he added.

Replying on Open Network for Digital Commerce (ONDC), Commerce and Industry Minister Piyush Goyal said that the ONDC Network started with two categories — food and beverages and grocery — has now expanded to mobility, fashion, beauty and personal care, home and kitchen, electronics and appliances, health and wellness and B2B. Goyal said that the sellers and service providers are spread across 300-plus cities expanding the geographical coverage of the ONDC network. “ONDC is working with entities like the Ministry of Agriculture and Farmers Welfare and NABARD to onboard FPOs and farmers to the network,” he said.