National Startup Day 2025: Union Minister Piyush Goyal Reflects on Nine Years of ‘Startup India’
As India celebrates National Startup Day 2025, the country reflects on nine years of its flagship initiative, ‘Startup India.’ Union Minister for Commerce and Industry, Piyush Goyal, marked the journey on social media, emphasizing how the programme has redefined the entrepreneurial ecosystem.
Launched in 2016, ‘Startup India’ was envisioned by Prime Minister Narendra Modi to promote innovation, support entrepreneurs, and create an environment conducive to growth. Since its inception, the initiative has been pivotal in shaping policies and providing infrastructure that allows startups to thrive.
“Today, we mark 9 remarkable years of the game-changing initiative ‘Startup India’,” Goyal expressed. “Born in 2016 through a vision that PM Narendra Modi ji saw for the nation, in this short span, it has empowered wealth creators and innovators. The turnaround in the entrepreneurial landscape of the country has been ably guided by the timely and progressive policies of the government that have built a responsive ecosystem that’s keeping pace with changing times and aiding our businesses.”
In his reflections, Goyal highlighted the flourishing journey of India’s startup ecosystem and the support it has received over the years:
How India’s Startup Ecosystem Flourished Over Nine Years
Government Support
The government’s role in fostering the startup ecosystem has been immense. Numerous initiatives and policies have been launched to provide the necessary support for startups to flourish. Among these is the Bharat Startup Knowledge Access Registry (BHASKAR), a key digital platform launched to unify and expand the startup ecosystem by reaching out to rural and budding districts. Since 2024, over 4.6 lakh registrations have been made on the platform, exemplifying its broad appeal and effectiveness.
How Are Indian Startups Shaping the Future of Technology?
Agritech Startup Boom
The agritech sector has experienced a significant boom since 2014. AgriTech startups in India have raised over Rs 20,000 crore in funding, supported by the Centre’s Agriculture Accelerator Fund created to assist AgriTech startups in rural regions. This growth underscores the innovative solutions driving agricultural productivity and sustainability in India.
Space Startups
Space technology has witnessed unprecedented growth, with India boasting over 200 space startups in 2024, a sharp increase from just one in 2014. In 2023 alone, Indian space startups raised Rs 1,073 crore, up from Rs 578 crore in 2021. To further support this burgeoning sector, a Rs 1,000 crore VC fund was announced for FY2024/25. Launched in 2020, IN-SPACe aims to promote private sector participation in space activities, enhancing the innovation landscape.
Biotech Startups
The biotech industry in India has seen remarkable growth, with the number of biotech startups increasing from a mere 50 in 2014 to 9,000 in 2023. Biotech incubators expanded from 6 in 2014 to 75 by 2022, fostering a nurturing environment for new ventures. This growth trajectory is reflected in the rise of India’s bio-economy from Rs 86,000 crore in 2014 to Rs 11.18 lakh crore in 2024, emphasizing the sector’s vital contribution to the economy.
As India celebrates National Startup Day 2025, the impact of ‘Startup India’ on the country’s entrepreneurial ecosystem is indisputable. The programme has significantly contributed to the growth of startups, creating jobs and fostering innovation across various sectors. The achievements over the past nine years underscore India’s potential as a global startup hub, capable of producing groundbreaking technologies and solutions that cater to both local and international markets.
Through a blend of strategic initiatives and unwavering support from the government, ‘Startup India’ continues to propel the nation towards a future rich with entrepreneurial spirit and innovative prowess. As the country looks forward to more years under this transformative programme, the journey of startups promises to be as dynamic and prosperous as ever.
