Prarambh : Startup India International Summit 2021

Why in News ?

On 16th January, PM Modi interact with Startups and addresses 'Prarambh : Startup India International Summit 2021'. 
It held Virtually (via Video Conferencing).

Key Points :

• This summit organized by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
• PM Modi said, India is working for startup ecosystem 'Of the Youth, By the Youth, For the Youth'.
• On this occasion PM announces 1000 crore startup India seed fund.
• The two day summit was held with participation from over 25 Countries and more than 200 global marquee speakers including BIMSTEC countries.
• It is the largest startup summit organized by the Government of India since the launch of the Startup India initiative in 2016.
Focus of the Summit : To enhance Global cooperation and nurturing stronger startup ecosystems, bringing together experts / Startup founders from BIMSTEC member countries for better understand markets.

Basic Facts About Startup India :

• PM Modi launched Startup India on 16 January 2016, Prarambh summit held on the occasion of 5th anniversary of Startup India.

• India has third largest Startup ecosystem in world (almost 41,408 Startups across India).

• In 2014 only 4 Startups were in the 'Unicorn Club', Today, more than 30 Startup 
in it. 

• 45% Startups are in tier-2 and tier-3 cities.

44% recognised Startups have one or more women directors and number of women working in these start up is very high.

• 29 States and UTs have Startup policy.

• 80% of districts of the Country are now part of the Startup India Mission.

• 36 Regulations simplified for Startup ecosystem.

Leading Sectors of Start-ups :

1. FINTECH - $ 5.7 billion
2. E-Commerce - $ 11.7 billion
3. Enterprises - $ 3 billion
4. Health - $ 1.4 billion
5. Logistics - $ 1.2 billion

Startup play major role during corona crisis and contribute in the AtmaNirbhar Bharat Mission. For Example - By Startup, now, India become exporter of PPE kits, sanitizer and other related goods.

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