Tier 2 & 3 Cities Now Account For Nearly 50% Of Recognised Startups

SUMMARY

The overall number of recognised startups has reached 66,810 in FY22

More than 3,300 DPIIT recognised startups are working in climate action sectors

Additionally, more than 4,500 startups have been recognised in sectors relating to emerging technologies

Nearly 50% of the recognised startups in India are now from Tier 2 and 3 cities, the Ministry of Commerce and Industry informed Rajya Sabha on Friday. A big testament to the fact that the startup revolution in India has reached all corners of the country, moving beyond Bengaluru, Mumbai and National Capital Region (NCR). Understandably, the market outside metro cities has started catching up with tech adoption and spending.

At a virtual event organised by IIT-Madras, Union Minister Piyush Goyal said that the Centre is committed to supporting startups from smaller cities and towns via better incubation centres. Even he called on VC firms to mentor small town entrepreneurs and handhold them in manoeuvring issues, at another event.