Today marks nine years since the launch of Startup India, an initiative introduced in 2016 to foster innovation and accelerate the growth of startups across India. Designated as the National Startup Day, the occasion recognizes the contributions of entrepreneurs to India’s economic and social development.
The Genesis of National Startup Day
National Startup Day was first announced by Prime Minister Narendra Modi during the inaugural Startup India Innovation Week on January 15, 2016. Observed annually on January 16, the day celebrates the achievements of India’s entrepreneurial community while fostering a supportive ecosystem for startups. Over the years, this day has grown into a powerful symbol of the country’s dedication to promoting innovation, job creation, and economic progress.
Udyamotsav 2025: Empowering Student Entrepreneurs
This year, the celebration of National Startup Day is marked by Udyamotsav 2025, a flagship event under National Startup Week. Organized by the Ministry of Education, Udyamotsav aims to empower student entrepreneurs by connecting them with the investor community.
The event spans across 14 cities, including Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi-NCR, Guwahati, Hyderabad, Jaipur, Lucknow, Nagpur, Pune, Srinagar, Trivandrum, and Chandigarh. Participants will have the opportunity to pitch their business ideas, seek funding, and receive mentorship on scaling strategies and refining their business models. This initiative underscores the government’s commitment to nurturing entrepreneurial talent from a young age and expanding opportunities in every corner of the nation.
India: A Thriving Startup Ecosystem
India has solidified its position as the third-largest startup ecosystem globally, driven by over 100 unicorns and vibrant hubs such as Bengaluru, Hyderabad, Mumbai, and Delhi-NCR. The contributions of startups extend beyond economic growth, aligning with India’s larger developmental vision. Highlighting this, Surya Kant, Program Director, Ministry of Electronics & IT (MeitY) Startup Hub, stated, “India’s startup ecosystem is inspiring, driven by over 1.5 lakh startups and 114+ unicorns we are with a common vision towards Viksit Bharat 2047. The support from the government through various schemes and grants, venture capitalists are not limiting themselves to funding they are nurturing startups also, and the role of incubators in providing guidance and support has all been crucial. With such a robust ecosystem in place and the potential of young minds, India will be going to become the top country for startups in the near future as part of Vikist Bharat mission”.
What sets India apart is the growing participation of smaller cities, where the entrepreneurial spirit is thriving. Tier-II and Tier-III cities have become significant contributors to the country’s startup boom, ensuring a more inclusive and geographically distributed growth.
GENESIS: Boosting Startups in Tier-II and Tier-III Cities
To further harness the potential of emerging startups in smaller cities, MeitY has launched the Gen-Next Support for Innovative Startups (GENESIS) Scheme. With a budgetary allocation of Rs. 490 crore over five years, this initiative aims to support around 1,600 tech startups. The scheme is designed to consolidate existing startup-related initiatives and assets under MeitY, ensuring greater efficiency and enhanced support for startups.
Key objectives of the include:
Providing funding for early-stage and deep-tech startups in Tier-II and Tier-III cities.
Strengthening incubators and fostering capacity-building programs.
Promoting innovation in regions with untapped potential.
According to MeitY Officials, expansion of this scheme is the main priority for the next 5-6 years to boost startups from Tier-II and Tier-III cities, where startup potentials are massive.
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