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StartUps grew 300 times in last 9 years: Union Minister Jitendra Singh

New Delhi: Union Minister Jitendra Singh here on Monday claimed that that StartUps in India grew 300 times in the last 9 years. Jitendra Singh was speaking at a function at Rashtrapati Bhavan where “National Innovation Awards”, instituted by the Union Ministry of Science & Technology, were presented to “Grassroot Innovators” by President Droupadi Murmu. […]

Edited By : Pranjal Gupta | Updated: Apr 14, 2023 10:48 IST
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Jitendra Singh

New Delhi: Union Minister Jitendra Singh here on Monday claimed that that StartUps in India grew 300 times in the last 9 years.

Jitendra Singh was speaking at a function at Rashtrapati Bhavan where “National Innovation Awards”, instituted by the Union Ministry of Science & Technology, were presented to “Grassroot Innovators” by President Droupadi Murmu.

The Minister said that there were just around 350 StartUps before 2014, but after Prime Minister Narendra Modi gave rolled out special StartUp scheme in 2016, there has been a quantum jump in StartUps to more than 90,000 with more than 100 Unicorns.

Jitendra Singh further added that simultaneously Prime Minister Modi opened up the Space sector for private participation leading to more than 100 StartUps in the Space sector within just about three years. Similarly, Biotech StartUps went up from around 50 to nearly 6,000, he said.

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The union minister noted that, “it is also now evident that we have so much of innovative talent even in our rural youth and there is no linkage between formal education degree and innovation capabilities which is evident from the awards given today.”

He added that this issue was also sought to be addressed by Prime Minister Modi by bringing in National Education Policy 2020 which gives emphasis to skill and not only to the academic degrees and prepares the individual for earning livelihood according to his or her aptitude and skill.

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The Minister mentioned that the nature of the awards given today and the profile of the awardees proves that a large number of “Grassroot Innovators” are available in India who may not have a very high formal education but who are capable of creating success stories and also generating attractive means of livelihoods for themselves.

Read More :- Latest India News

First published on: Apr 10, 2023 07:11 PM IST

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