Shark Tank India? Over 50,000 Govts Recognized Startup Already In Nation

The internet today is bustling with reviews of the newest reality TV show Shark Tank India.

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The series is the Indian version of the very popular series originating in the US, that encourages innovators and businessmen, share their business idea with the goal of being funded, to bring their idea and schematics to fruition.

And while this show might seem like a boon to the budding entrepreneurs and innovators, India¡¯s existing startup scene isn¡¯t behind by any means.

The startup initiative which was initiated in the year 2016, managed by the Department for the Startup Initiative with the Department for Promotion of Industry and Internal Trade (DPIIT) acting as the nodal, announced in June 2021 that India has over 50,000 startups that have received recognition from the aforementioned bodies.

The press release also revealed that each state and union territory has at least one startup. Moreover, 30 states and union territories have initiated their own startup programmes to support budding entrepreneurs.

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The states of Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat have the largest number of startups.

What¡¯s surprising is that the last 10,000 in the 50,000 tally took only 180 days to add, compared to the first 10,000 which took a total of 808 days. The first year -- 2016-2017 saw recognition of only 743 startups, whereas in the year 2020-2021, we saw over 16,000 startups being recognised.

Most startups belonged to food processing, product development, application development, IT consulting and business support services. Almost 45 percent of startup leadership teams have a women entrepreneur.

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And these are just those that are recognised by DPIIT and the Startup Initiative. There are several that are running on their own, contributing to the nation¡¯s growth.

So it¡¯ll be interesting to see how Shark Tank India tries to take this startup craze to newer heights in a nation like India.

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