2024 marks the eighth anniversary of the Startup India program, a milestone that showcases remarkable growth from around 400 startups in 2016 to over 1.18 lakh startups today. Prime Minister Narendra Modi inaugurated the initiative on January 16, 2016, aiming to foster innovation, support startups, and attract investments to India’s startup sector. In 2022, he officially designated January 16 as National Startup Day to recognize the contributions of startups to nation-building and socio-economic development.
Recognized entities enjoy various benefits, including compliance self-certification, patent application assistance, and tax exemptions. The Startup India program includes initiatives like the SIDBI Fund of Funds scheme, a Seed Fund scheme, and a Credit Guarantee Scheme.
As part of the National Startup Day celebrations, the Department for Promotion of Industry and Internal Trade (DPIIT) announced winners for the National Startup Awards 2023 and the States’ Startup Ranking Framework.
Here are insights from some notable entrepreneurs commemorating National Startup Day:
Rahul Pagidipati, CEO, ZebPay: Highlights India’s global prowess in the startup ecosystem and the remarkable growth of the Web 3 industry.
Nitya Sharma, Founder and CEO, Simpl: Emphasizes the role of startups in building a level playing field for small businesses and contributing to India’s $5 trillion economy objective.
Shashank Randev, VC Founder, 100X.VC: Celebrates the resounding potential of startups, acknowledging their ability to disrupt and offer transformative solutions.
Pankaj Sharma, Co-Founder & Director, Log9 Materials: Predicts a shift in focus towards stability and profitability in 2024, with strategic investments leading to potential mergers and acquisitions.
Nishith Rastogi, Founder and CEO, Locus: Recognizes National Startup Day as a testament to the potential of entrepreneurship in driving innovation, creating jobs, and fueling economic growth.
Saurabh Jain, Co-Founder, Stable Money: Foresees entrepreneurs contributing to India’s GDP growth, with a substantial pool of recognized startups fostering collaboration and mentorship.
Join us in celebrating the vibrant Indian startup ecosystem. Stay tuned to IncBasil for more updates on the dynamic world of startups and technology.
