The startup landscape in Andhra Pradesh (A.P.) has witnessed a significant improvement, with the number of recognised startup companies going up to 586 in 2023 compared to 161 in 2019. This led to an increase in direct employment opportunities generated by recognised startups in the State from 1,552 direct jobs in 2019 to 5,669 in 2023, according to Union Minister of State for Commerce and Industry Som Prakash.
Making a statement to that effect in reply to a question posed by YSR Congress Party (YSRCP) MP Parimal Nathwani in the Rajya Sabha on Friday, Mr. Prakash said a total of 10,604 startups were recognised in India by the Department for Promotion of Industry and Internal Trade (DPIIT) in 2019, which jumped to 34,779 in 2023. Simultaneously, the direct employment opportunities created by the startup companies across India registered a substantial increase, up from 1,23,071 jobs in 2019 to 3,90,512 jobs in 2023.
Mr. Nathwani sought to know the number of startups recognised under the Startup India initiative, the number of jobs provided by them in the country in the last five years, the impact and contribution of startups on the Indian economy and the number of startups led by women.
The Minister said the Central government launched the Startup India initiative in January 2016 to build a strong ecosystem for nurturing innovations and startups and encouraging investments in the startup ecosystem. Various programs were implemented under the initiative and sustained efforts thereof led to an increase in the number of DPIIT-recognised startups to 1,17,254 as on December 31, 2023.
They have created over 12.42 lakh direct jobs and there was at least one recognised startup in every State and Union Territory spread across over 80% of the districts in the country. Since the launch of the Startup India initiative, 55,816 recognised startups have at least one woman director, the Union Minister said.
