Startup India Innovation Week | National Start-up Day to be Celebrated Annually

At Startup India Innovation Week, Prime Minister announced that January 16 will be celebrated as National Start-up Day Each Year. On 16th January 2016, the start-up India mission was launched.

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Startup India Innovation Week- Relevance for UPSC Blog

GS Paper 2: Governance, Administration and Challenges- Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Startup India Innovation Week- Context

Recently, the Department for Promotion of Industry and Internal Trade (DPIIT) is organizing the first-ever Startup India Innovation Week from 10th -16th of January 2022.
Interestingly, in the start-up world, 2021 has been recognized as the ‘year of unicorns,’ with 40+ unicorns added in the year.
It was also decided that 16 January will be celebrated as the National Start-up Day each year to promote the start-up ecosystem in the far-flung regions of the country.

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Startup India Innovation Week- Key Points

About: Startup India Innovation Week is being celebrated to commemorate the 75th year of India’s independence ‘Azadi Ka Amrit Mahotsav’. It is being celebrated in virtual mode.
Key Objective: Startup India Innovation Week is designed to showcase the spread and depth of entrepreneurship across India.
Parent Ministry: first-ever Startup India Innovation Week is being organized by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
Key Objectives: Startup India Innovation Week aims-
- To bring together the country’s key start-ups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, and other national/international stakeholders to celebrate entrepreneurship and promote innovation.
- To exchange knowledge on nurturing startup ecosystems;
- To develop entrepreneurial ecosystem capacities;
- To mobilize global and domestic capital for startup investments;
- To encourage and inspire the youth for innovation and entrepreneurship;
- To provide market access opportunities to startups; and
- To showcase high-quality, high-technology, and frugal innovations from India.

Startup India Innovation Week: Start-up Ecosystem in India and Significance

Innovation Ecosystem in India: India is emerging as a global innovation hub, boasting the world’s third-largest startup ecosystem.
Potential: Startups have the potential to accelerate India’s integration into global value chains and create global impact.
Start-ups in India: DPIIT has recognized more than 61,000 startups as of date.
Geographical and Industry Representation: Indian startups representing 55 industries, are spread across 633 districts with at least one startup from every State and UT of the country.
- 45% of the startups are from Tier-2 and Tier-3 cities.
Generating Employment: Indian start-ups have also created over 6 lakh jobs since 2016.
Women Participation: About 45% of Indian startups are represented by women entrepreneurs.

Startup India Innovation Week: National Start-up Day

About: At Startup India Innovation Week, Prime Minister announced that January 16 will be celebrated as National Start-up Day each year.
- On 16^th January, 2016, Start-up India mission was launched by the Prime Minister of India.
Aim: Annual celebration of National Start-up Day aims to take the Startup culture to the far-flung areas of the country.