The Union government empowered more than 10,000 technology startups through various schemes in the last five years, said Jitin Prasada, Minister of State for Electronics & Information Technology, in a written reply to a question in Rajya Sabha.
The Centre disbursed a total funding of Rs 580 crore to startups through incubators including over 3,600 tech startups supported by the Ministry of Electronics and Information Technology (MeitY) with a total disbursed funding of Rs 212 crore.
Under the Startup India initiative, “the government undertook flagship schemes such as Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS)”, Prasada said.
These schemes helped the startups to raise investments from angel investors or venture capitalists or seek loans.
Prasada said with the help of these schemes there are over 1.43 lakh startups operating in India that are recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).
Initiatives taken by MeitY include Technology Incubation and Development of Entrepreneurs (TIDE 2.0), Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH), Next Generation Incubation Scheme (NGIS), Domain specific Centres of Excellence (CoEs), and Theme-based Incubation Centre, Prasada said.
TIDE 2.0 was initiated by MeitY in 2019 with an outlay of Rs 264.62 crore over a period of five years, to extend financial and technical support to institutes of higher learning and premier R&D organisations.
SAMRIDH provides support to selected accelerators for extending accelerator services to startups along with one-to-one matching funding support of up to Rs 40 lakh.
The NGIS Scheme has solution-oriented architecture and aims to handhold 300 tech startups in Tier-2/3 cities over a period of three years with a total budget outlay of Rs 95.03 crore.
MeitY has also envisaged and operationalised 42 CoEs that will aid in making India an innovation hub in emerging technologies.
Entrepreneur parks have also been established through STPI New Delhi, Makers Village in Cochin Kerala, IIIT-Patna and the government of Bihar on medical electronics and Fabless chip design incubation centre at IIT-Hyderabad to boost innovation-led electronic system and design manufacturing.
Issue of deportation of illegal immigrants receiving consideration at highest level, SC told
Solicitor General Tushar Mehta on Tuesday apprised the Supreme Court that the issue of deportation of illegal immigrants is receiving consideration at the highest executive level and a decision is likely to be taken soon.
CPI-M announces new 80-member West Bengal committee, Md Salim named state Secretary for second term
The CPI-M, at the conclusion of its 27th state conference on Tuesday, announced the new 80-member state committee in West Bengal with Politburo member Md Salim unanimously re-elected state Secretary for a second term.
HM Shah upbeat on Madhya Pradesh's approach to accrue Rs 30 lakh crore in 2 days
The Global Investors Summit 2025, convened in Madhya Pradesh, saw participation from over 200 companies, representatives from 50 countries and attracted a huge investment of more than 30 lakh crore rupees.
TN CM Stalin calls all-party meet on March 5 to discuss delimitation issue
Tamil Nadu Chief Minister, M.K. Stalin, on Tuesday called for an all-party meeting on March 5 to discuss the issue of delimitation, which threatens to reduce Tamil Nadu’s representation in Parliament.
Surrendered militants block National Highway in Tripura; clears way as officials intervene
Around 100 surrendered militants of different outfits on Tuesday blocked National Highway-8, the surface lifeline of Tripura, demanding the fulfillment of their long-standing demands, including the withdrawal of all court cases against them and the proper implementation of the tripartite agreement signed with them.
With 2.73 pc in Mizoram & 1.37 pc in Nagaland, HIV/AIDS adult prevalence rate top in India
The HIV/AIDS adult (15 to 49 years) prevalence rate in two northeastern states -- Mizoram and Nagaland is much higher than the national prevalence rate of 0.20 per cent, officials said on Tuesday.
1984 anti-Sikh riots: Delhi court awards life sentence to Sajjan Kumar in murder case
A Delhi court on Tuesday awarded life sentence to former Congress MP Sajjan Kumar in connection with the killing of a father-son duo in the Saraswati Vihar area on November 1, 1984, during the anti-Sikh riots.
Eager to join Assam’s transformational journey: Gautam Adani
Assam is on a path to greatness amid several ongoing transformative projects and we are honoured to walk this path alongside you, Gautam Adani, Chairman of the Adani Group, said here on Tuesday.