Startup India: Over 9% of country’s registered startups are based in Uttar Pradesh: Govt data

Lucknow: Over 9% of all registered startups in India are based in Uttar Pradesh, official data from the Ministry of Commerce and Industry suggests.
This was announced by Minister of State for Commerce and Industry Jitin Prasada in Rajya Sabha on Friday. The minister informed the house that the number of startups in India has increased to over 1.4 lakh.
He added that Maharashtra has 25,044 registered startups, the highest among all states, followed by Karnataka with 15,019, Delhi with 14,734, Uttar Pradesh with 13,299 and Gujarat with 11,436. The minister emphasised that the government is taking various initiatives to support the startup ecosystem in the country.
The government has launched Startup India an initiative of 16 January 2016 aimed at creating a solid ecosystem that will support innovation, start-ups and encourage investments.
The department officials said the Startup India Action Plan comprises 19 action points in three key areas: simplification and mentoring, financial support and incentives, and industry-academia partnership and incubation.
Additionally, the government has introduced ‘Startup India: The Way Ahead’, which includes action plans to make it easier for startups to do business, leverage technology to implement reforms, build capacity of stakeholders and enable a digital Aatmanirbhar Bharat.
The government has also established Fund of Funds for Startups (FFS) with a capital of Rs 10,000 crore to meet their financial requirements.
Department of Promotion of Industry and Internal Trade (DPIIT) acts as the monitoring agency while the operational agency is the Small Industries Development Bank of India (SIDBI).
The entire amount is planned to be disbursed within the 14th and 15th Finance Commission cycles, depending on programme progress and availability of funds.

We have also recently published the following articles

‘Over 1.4 billion startups registered in India; Maharashtra outpaces other states’: Jitin Prasada
The number of startups in India has crossed 1.4 lakh, with Maharashtra leading the way with 25,044. Jitin Prasada highlighted government initiatives, including the Startup India initiative and the Fund of Funds for Startups, to support the startup ecosystem. Key areas addressed include simplification, financial support and industry-academia partnerships. The initiative, launched in 2016, promotes innovation and investment.

Angel tax cut opens door to startup funding
The government has scrapped the angel tax for all investors, simplifying the process of funding startups. The move, which is expected to increase the number of local investors by 10-20%, eliminates delays and conflicts by removing the tax on valuations above fair market value. Introduced in 2012, the tax discouraged investment, especially for early-stage ventures and foreign-funded startups.