India now home to over two lakh govt-recognised startups: Union minister Piyush Goyal

India is now home to over two lakh government-recognised startups, with over 44,000 entities recognised this year alone, the highest in a year since the inception of the Startup India initiative, Commerce and Industry Minister Piyush Goyal said on Friday.

Under the Startup India initiative launched in 2016, the recognised units are eligible to avail incentives such as income tax relief.

“What makes this success sweeter is that nearly 48% of these startups have at least one woman director/partner. These startups have also helped generate over 21 lakh direct jobs,” Goyal said in a social media post.

He added that over Rs 25,320 crore capital invested in over 1,350 startups by Alternative Investment Funds under the Fund of Funds for Startups Scheme.

Goyal said that Rs 775 crore granted under the Credit Guarantee Scheme for Startups and over Rs 585 crore approved to over 3,200 startups applications by incubators under the Startup India Seed Fund Scheme.

So far this year, More than 16,400 new patent applications filed by startups.