Recognised startups create over 16.6 lakh direct jobs across 55 industries

Startups recognized under the Indian government’s Startup India initiative have created over 16.6 lakh direct jobs across 55 industries, according to the Department for Promotion of Industry and Internal Trade (DPIIT).

These startups, operating beyond just technology, are bolstering India’s workforce while driving innovation and economic growth.

Job creation by industry

The data, as of Oct. 31, 2024, reveals significant contributions across diverse fields. Key highlights include:
1. IT Services: 2,04,119 jobs  
2. Healthcare and Life Sciences: 1,47,639 jobs  
3. Construction: 88,702 jobs  
4. Education: 90,414 jobs  
5. Food & Beverages: 88,468 jobs  
6. Finance Technology: 56,819 jobs  

Other notable contributors include green technology (27,808 jobs), renewable energy (41,523 jobs), and professional services (94,060 jobs). Emerging sectors like artificial intelligence (23,918 jobs) and robotics (5,956 jobs) also show promising growth.

Support through government schemes

The Startup India initiative, launched on Jan. 16, 2016, offers a structured framework for nurturing startups. Programs like the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) cater to different stages of the business lifecycle.

Initiatives such as the States’ Startup Ranking, National Startup Awards, and Innovation Week foster competition and innovation across the country.

Digital platforms like the Startup India Hub and Bharat Startup Knowledge Access Registry (BHASKAR) have streamlined access to resources and collaboration for startups in non-metro cities.

These efforts aim to decentralize entrepreneurial opportunities, ensuring equitable benefits across Tier 2 and Tier 3 cities.

Enhancing international collaborations

India has also focused on global startup collaborations through initiatives like the Startup20 Engagement Group under its G20 presidency. This group enhances cross-border partnerships and provides Indian startups access to global markets and resources.

To extend its reach, the government organizes capacity-building workshops and ecosystem development events like Startup Mahakumbh and ASCEND workshops in the Northeast. These events encourage grassroots innovation and provide funding, mentorship, and business linkages to entrepreneurs across India.