Kerala, Gujarat and Karnataka are doing well in the new startup generation.

Tamil Nadu, Kerala, Gujarat, and Karnataka emerged as the leading states among those with populations exceeding ten million, while Himachal Pradesh stood out among states with populations below ten million. Commerce Minister Piyush Goyal declared on Tuesday that startups play a crucial role in India’s ambition to achieve developed nation status by 2047, with the number of unicorns reaching 112 and a combined valuation of $350.71 billion.

Also Read: wellhealth how to build muscle tag

During the launch of the state ranking awards ceremony in New Delhi, Minister Goyal highlighted the substantial progress made by the startup sector over the past eight years. What was once a novelty has now become an integral part of the national mainstream.Kerala The minister reported that, according to data from the commerce ministry up to December 31, India has 117,254 registered startups across 57 industry segments. Notably, 48% of these startups have at least one woman director.

Prime Minister Narendra Modi’s announcement of the Startup India initiatives on January 16, 2016, marked a turning point when there were only about 400 startups. Recognized startups have contributed significantly, generating over 1.24 million jobs, with half of these opportunities arising in smaller cities. India now holds the third position globally in terms of unicorn nations, boasting 112 entities valued at over $350.71 billion, including 19 unicorns with 21 female founders.

The sectors driving the emergence of unicorns include enterprise tech, consumer services, media and entertainment, edtech, logistics, e-commerce, and fintech. Minister Goyal emphasized the transformative role of startups in industries like medtech, fintech, agrotech, drones, and simulators. He underscored the untapped potential in the tourism industry and encouraged entrepreneurs to explore innovative ideas related to eco-friendly travel.

Minister Goyal commended achievements in sectors like food processing and millets Kerala but advised startups to focus on emerging fields like artificial intelligence. He stressed that age should not be a barrier to embracing innovation and urged individuals of all ages to contribute their unique perspectives and ideas to the startup ecosystem.

Next Read: Wellhealth Ayurvedic Health Tips

The government is committed to monitoring the developmental stages of startups, refining data to identify their locations, and categorizing them into specific sectors for more targeted interactions. Efforts are underway to ensure that every startup is registered on a portal managed by the Department of Industry and Internal Trade Promotion.Kerala  Minister Goyal advocated for increased cooperation and mentoring through the Startup India initiative’s MAARG (guidance, information, support, resilience, and development) portal.

About Author

james

See author's posts