Maharashtra, Karnataka, and Delhi have seen the highest number of start-ups recognised under the government’s flagship Start-Up India Scheme in the period between January 2016, when the scheme was launched, and July 16, 2019, according to a reply tabled by the Ministry of Commerce & Industry in Parliament last week.
These three states also attracted the highest investments from Alternative Investment Funds (AIFs) in start-ups. The information was collected by the Department for Promotion of Industry and Internal Trade (DPIIT), and formed part of the reply by the Minister for Commerce & Industry Piyush Goyal to a question asked by Congress MP from Odisha Saptagiri Sankar Ulaka in Lok Sabha on July 24.
According to the reply, a total of 20,028 start-ups across the country have been recognised under the scheme. To meet the funding requirements of start-ups, a Fund of Funds for Start-ups (FFS) with a corpus of Rs 10,000 crore had been established. The DPIIT and the Small Industries Development Bank of India (SIDBI) were taken as the monitoring and operating agencies respectively for the FFS. As of July 10, 2019, SIDBI had committed Rs 3123.20 crore to 47 SEBI registered AIFs, which raised a corpus fund of Rs 25,728 crore.