Start-up India Scheme : Starred Question in Loksabha

To know the answer of above questions reg. Start-up India Scheme please see below the full text of Loksabha Unstarred Question No.444.

Start-up India Scheme

Saptagiri Sankar Ulaka

Will the Minister of COMMERCE AND INDUSTRY be pleased to state:-

(a) the salient features of the start-up India Scheme and the number of registrations done under this scheme since its inception across the country, State/ UT-wise; 

(b) the details of the funds sanctioned, allocated and utilised and the targets set/achieved thereunder so far, State/ UT-wise; 

(c) the details of the State Governments which have formulated start-up policies in their respective States at present; 

(d) the names of the top five States with the highest number of registrations and execution of start-ups in the country; and 

(e) the number of registrations done under the scheme during the last two years in the State of Odisha?

ANSWER

THE MINISTER OF COMMERCE & INDUSTRY

(SHRI PIYUSH GOYAL)

(a) to (e): A Statement is laid on the Table of the House.

STATEMENT REFERRED TO IN REPLY TO LOK SABHA STARRED QUESTION NO. 444 FOR ANSWER ON 24TH JULY, 2019

(a): Startup India initiative was announced by the Prime Minister of India on 15th August, 2015. The flagship initiative has an objective to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. Further to this, an Action Plan for Startup India was unveiled by the Prime Minister of India on 16th January 2016. The action plan comprises of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and incubation”. Salient features of these action points are at Annexure I. Since its inception, 20,028 Startups across the country have been recognised by Department for Promotion of Industry and Internal Trade (DPIIT) as on 16.07.2019. The State-wise number of recognized Startups is at Annexure II.

(b): Government of India has established a Fund of Funds for Startups (FFS) with corpus of Rs. 10,000 crores, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. The total corpus of Rs. 10,000 crores is envisaged to be provided over the 14th and 15th Finance Commission cycles based on progress of the scheme and availability of funds. As on July 10, 2019, SIDBI has committed Rs 3123.20 crore to 47 SEBI registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of INR 25,728 crore. Further, the AIFs have invested a total of Rs. 1,701.03 crore into 254 startups out of which Rs. 512.57 crore have been drawn from Fund of Funds for Startups. State/UT-wise details of funds invested by the AIFs are at Annexure III.

(c): A total of 26 States/UTs have notified and operational startup policies. The list of States/UTs with startup policies are provided at Annexure IV.

(d): The details of top five States with highest number of recognised startups under Startup India initiative are at Annexure V.