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Govt recognised 7,141 startups till Nov 5: Piyush Goyal

Sector-wise, the highest of 1,351 start-ups are from information technology followed by healthcare (808), education (658), professional and commercial services (400) and finance technology (362).

, ET Bureau|
Nov 20, 2019, 06.29 PM IST
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Piyush Goyal - BCCL
Goyal said that the data on number of startups which are still functional for three years or have failed in three years of their launch is not compiled.
NEW DELHI: Commerce and industry minister Piyush Goyal on Wednesday said the said 7,141 start-ups are recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) in this fiscal till November 5.

Out of this, a maximum of 1,778 are from Maharashtra. It is followed by Karnataka with 1,374 start-ups, Delhi with 1,152 and Uttar Pradesh with 709. The department had recognised 8,618 startups in the entire 2018-19.

“The details of Startups founded all over country is not compiled, however, various initiatives undertaken under Startup India initiative have resulted in increase in recognition of Startups by DPIIT since the launch of the initiative,” Goyal said in a written reply to a question in Lok Sabha.

Sector-wise, the highest of 1,351 start-ups are from information technology followed by healthcare (808), education (658), professional and commercial services (400) and finance technology (362).

Goyal said that the data on number of startups which are still functional for three years or have failed in three years of their launch is not compiled.

The incentives being provided to startups under Startup India initiative to overcome their initial hurdles include self-certification under six labour laws and three environmental laws, relaxations in public procurement norms and faster exit under the bankruptcy code.

Startups also get exemption under the Income Tax Act, rebates on patent and trademark filing fees, support from facilitators and expedited examination of patent application along with funding support under the Fund of Funds for startups.

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