The Indian government has introduced over 50+ startup schemes in past few years. Each startup scheme is missioned towards boosting the Indian startup ecosystem.
Consider this. Close to 4,400 technology startups exist in India and the number is expected to reach over 12,000 by 2020. India is also at third place behind US and Britain in terms of the number of startups. Furthermore, in line with its global counterparts, India has its own billion dollar club to boast about. This includes startups like Flipkart, Snapdeal, Ola, InMobi, Hike, MuSigma, Paytm, Zomato, and Quikr. With the next $100 Mn funding raise, fintech startup MobiKwik too looks to join the unicorn club.
Entrepreneurship is no longer being condemned as jugaad.
Nirmala Sitharaman, MoS, Commerce and Industry made this statement during the launch of the Startup India Action Plan on January 16, 2016, by PM Narendra Modi. In the past 18 months, the Indian Government has come up with a wide array of startup schemes and startup funds to encourage launch and growth of startups in the country. However, of the many initiatives, only a few such as Fund of Funds, Tax exemption, gain hype across the startup community.
These startup schemes have been introduced over a period of time and many of these were introduced before the launch of Startup India plan. But most of the startups are either not aware of these different schemes or do not have a clear idea on how to avail them.
Keeping this in mind, we at Inc42 have tried to curate an exhaustive list with the details of these 50+ startup schemes floated by the Indian government to date to support the Indian startups, SMEs, MSMEs, Businesses, Research Institutes, Incubators, Accelerators, etc. Indian. Sectors that these government schemes for startups operate under range from tech-specific verticals to agritech, greentech, science and academic innovation and more.