The 4,500 startups recognized by DPIIT are working in domains such as IoT, robotic, AI, analytics, among other. 26 center of excellence have been established across the country to build capabilities in the field of emerging technologie MoS Som Parkash. Number of startups recognized in the country increased from 471 in 2016 to 72,993 as of June 30, 2022 Government.
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DPIIT recognized startups
Minister of State for Trade and Industries Som Parkash reported on Friday July 22 to Parliament that more than 4,500 startups working in the domain of emerging technologie have been recognized so far by the Industry Promotion Department & Internal Trade DPIIT.
In a written response, the minister said that these well-known startups belong to domains such as the Internet of Things IoT, robotics, artificial intelligence AI, analytics, among other.
The minister also said that new agritech companies incubated under certain government schemes are carrying out projects that combine traditional agriculture with allied sectors such as AI, IoT, blockchain, information and communication technologies, precision agriculture, digital agriculture, etc. among others.
Parkash also added that 26 centers of excellence CoE have been established across the country to build capabilities in the field of emerging technologies.
These domain specific CoEs are being established across India with the participation of the central government, Indian software tech park, state government, industry associations and venture capital firms. These CoEs act as important enablers to promote innovation in emerging technologies, said Parkash.
He also noted that the Biotechnology Industry Research Assistance Council BIRAC is working to promote startups & innovation in the biotech space.
The minister said that the number of recognized startup in the country increased from 471 in 2016 to 72,993 as of June 30, 2022. These startups are distributed in 56 diversified sector.
In addition, the central government has undertaken 52 regulatory reforms in the past six years to improve the ease of doing business and the ease of raising capital” and to reduce the compliance burden on new businesses.
Earlier this week, the government told Parliament that DPIIT recognized startups employ 7.68 lakh people across the country. Maharashtra & Karnataka lead the country in the number of jobs generated by recognized startups with 1.46 lakh and 1.03 lakh, respectively.
India also has over 700 active incubators and 60 Atal Incubation Centers across the country to nurture potential startups.
Startups recognized by DPIIT enjoy a number of incentives including tax exemption for three years, reimbursement on patent filing, and preference among unrecognized startups for the government’s fund-of-funds scheme.