Govt Of India Recognized 38 Startups/Day In 2021; 555 Indian Districts Have Atleast 1 Startup!

• India produced 44 unicorns in 2021. 
• India has become the country with the third highest number of unicorns. 

In India there are more than 61,400 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). At least 14,000 of these startups have been recognised in the financial year 2022, stated the Economic Survey while adding that 555 districts in India saw the beginning of at least one new startup. At Least 75% of the districts in India are likely to have at least one startup in them. 

“During 2021, the government recognised over 14,000 new startups as compared to only 733 new startups during 2016-17. As a result, more than 61,400 startups have been recognised in India as of January 10, 2022,” the survey said.

Number of unicorns skyrocketed

India also produced a record high number of 44 unicorns in 2021 which took the overall tally of unicorns in India to 83. Most of these startups are in the service sector. 

According to the survey, with the 44 new unicorns, India has become the country with the third highest number of unicorns. It has overtaken the UK to emerge at third place after the US and China who added 487 and 301 unicorns respectively in the year 2021.India is the ‘startup nation’ and it has left the UK behind.

Unicorns are startups that achieve a valuation of more than $1 billion.

India to encourages more startups

There is a noticeably significant rise in the number of unicorns in India. Last month, the Commerce and Industry minister Piyush Goyal said that the startup ecosystem in the country must have the target of adding 75 new unicorns in 2022.

18% Unicorn Founders In US Are Indians!

Although Indian Govt is encouraging Indians to become entrepreneurs, and creating policies to launch more startups, the best of the brains are migrating to other nations.

In the US, for instance, 18% founders of Unicorn startups are actually Indians. As we reported few days back, startups by Indian founders in the USA raised more than $21 billion in 2021, up from 11.5 billion in 2020.

We will keep you updated, as more details come in.