New Delhi: The government recognised more than one startup per hour in May, taking the total number of recognised startups to 18,861 since the beginning of the Startup India initiative in 2016.

“In May 2019 only, 814 startups have received recognition. This is more than 1 startup every hour!,” Department for Promotion of Industry and Internal Trade (DPIIT) secretary Ramesh Abhishek said in a series of tweets on Tuesday.

Recognition of startups is only a formal acknowledgement of their inclusion in the startup system and doesn’t make them eligible for any tax breaks. They need to comply with a series of criteria including proof to the government of cutting edge technology and turnover conditions.

“These entities are spread across 513 districts of 29 States and 6 UTs,” he said in the tweet.

Abhishek further said that 1,87,004 jobs have been reported by 16,105 DPIIT-recognised startups or more than 11 direct jobs per startup.

“With each direct job leading to 3X indirect jobs, total jobs created by these startups are estimated at more than 5.6 lakh,” he tweeted.

There were around 16,000 government-recognised startups in February.

Startup India is the flagship initiative of the government, launched in January 2016, which intends to build a strong ecosystem for the growth of start-up businesses to drive sustainable economic growth and generate employment opportunities and provides tax and other incentives to eligible startups.

Further, the secretary informed that Small Industries Development Bank of India

(SIDBI) has committed Rs 2,570 crore from Fund of Funds to 45 venture funds, catalysing investments of more than Rs 25,000 crore.

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“244 start-ups have received funding of Rs 1,561 crore,” he said.

Abhishek further tweeted: “1,862 start-ups have registered, receiving 7,697 orders worth Rs 275 crore till April.”

The portal was launched in August 2016 for online purchase of goods and services by all the central government ministries and departments. Start-ups can now get government orders on GeM Startup Runway, while getting exemption from prior turnover, prior experience and earnest money deposits.

On the patents front, he said 1,496 enterprises have received 80% rebate in patent filing fees, while 2,761 have got 50% rebate in trademark filing fees.

“389 avail expedited examination. 103 patents are granted. The fastest patent was granted
in 81 days,” Abhishek said in another tweet.



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