Delhi replaced Bengaluru as the startup capital of the country as 5,000 recognised start-ups were added in the city between April 2019 to December 2021. Bengaluru had added 4,514 start-ups during the same period, according to Economic Survey 2021-22.
India has more than 61,400 start-ups that are recognised by the Department for Promotion of Industry and Internal Trade.
According to the Economic Survey, tabled by Finance Minister Nirmala Sitharaman in the Parliament on Monday, Maharashtra has the record of having the highest number of recognised start-ups—11,308.
In 2021, the country also saw 44 start-ups reaching unicorn status. India now has 83 unicorn start-ups.
India has become the third largest start-up ecosystem after US and China as the number of start-ups have increased to over 14,000 in 2021-22. The country had only 733 start-ups in 2016-17.
Meanwhile, a flurry of technology startups made their public debuts during the April-November 2021 period.
"In April-November 2021, IPOs of 75 companies have listed, garnering Rs 89,066 crore, as compared to 29 companies raising Rs 14,733 crore during April-November 2020, indicating stupendous rise of 504.5 per cent in fund mobilisation," the Economic Survey stated.
"The exuberance associated with the listings manifested in huge oversubscriptions by retail, High Net worth Individuals (HNIs) and institutional investors and stellar listing gains have pushed more and more companies to tap the markets."
According to the survey, more than 100 start-ups are working in the space sector, with 47 start-ups registering with the government in 2021 itself. In June 2020, the government opened up the space sector to allow participation of private firms in the entire gamut of space activities.
—With agency inputs
