Economy

Start-ups create over 1 lakh jobs in Maharashtra

Radheshyam Jadhav Pune August 2 | Updated on August 02, 2021

The number of start-ups in Maharashtra has increased from 4,323 in September 2019 to 9,864 in 2021

The recognised start-ups in Maharashtra are contributing to job creation with 1,10,510 jobs reported by 9,864 start-ups, that is an average number of 11 employees per start-up (as of July 21).

Ministry of Commerce and Industry recently informed Lok Sabha that the Central government does not have any State-specific industrial development scheme except for few States. But Maharashtra is among the top States when it comes to start-ups.

Department for Promotion of Industry and Internal Trade (DPIIT) has recognised these 9,864 start-ups in Maharashtra. Interestingly, the number of start-ups in Maharashtra has increased from 4,323 in September 2019 to 9,864 in 2021.

“The State has formulated Maharashtra State Start-Up Policy, 2018, which aims to create economic growth and job creation by encouraging entrepreneurs to design novel solutions in new-age sectors like biotechnology, artificial intelligence, the internet of things, clean energy, etc. as well as revamping the traditional sectors,” the latest State Economic Survey reported.

According to the Ministry along with Maharashtra, other States which have accelerated the setting up of start-ups include Karnataka, Delhi, Uttar Pradesh, and Gujarat.

Start-up ecosystem

According to the Ministry, the Indian start-up ecosystem is widely recognised as the third-largest start-up ecosystem. As of July 14, 2021 about 52,391 entities are recognised as start-ups by DPIIT.

As per industry estimates, there are 53 unicorns currently in India, with a tentative valuation of ₹1.4-lakh crore. More than 5.7 lakh jobs have been reported by more than 50,000 startups.

‘Startup India’ is a flagship initiative of the government of India launched by Prime Minister Narendra Modi on 16 January 2016. The initiative is intended to catalyse start-up culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. DPIIT acts as the nodal Department for the Start-up initiative.

Published on August 02, 2021

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