Start-up India Innovation Week 2024, Check Details

Start-up India Innovation Week 2024 will be organised from January 10, 2024 to January 18, 2024 to celebrate the Indian start-up ecosystem and National Start-up Day (16 January 2024).

• 'Startup India Innovation Week' will be organised by the 'Department for Promotion of Industry and Internal Trade' (DPIIT) under the Ministry of Commerce and Industry.
• The main objective of organising Startup India Innovation Week is to engage the stakeholders of the startup ecosystem in the country and to promote the spirit of entrepreneurship and innovation in India.
• In this way, knowledge-sharing sessions are organised for entrepreneurs and aspiring entrepreneurs. These sessions also included stakeholders from the startup ecosystem, such as government officials, incubators, corporators and investors.

Startup Ecosystem in India:

• India has emerged as a 'hotspot' for startups in the last few years. Currently, India is the third largest startup ecosystem in the world.
• As of 03 October 2023, there were 111 unicorn startups in India, with a total valuation of $349.67 billion.
• The Indian startup ecosystem has seen rapid growth over the past few years:
  • 15 times increase in total funding of startups
  • 9 times increase in the number of investors
  • 7 times increase in the number of incubators

What is the Startup India Initiative?

• Indian Prime Minister Narendra Modi first announced the campaign during his speech from the Red Fort in New Delhi on 15 August 2015.
• This program was inaugurated on 16 January 2016.
• Startup India is a flagship initiative of the Government of India, which aims to catalyse the startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India.

Major initiatives of the government for startups:

• Startup India Seed Fund Scheme (SISFS)
• National Initiative for Development and Utilization of Innovations (Fund){NIDHI}
• Startup India Action Plan (SIAP)
• National Startup Awards( NSA)