National Startup Day: Celebrating India’s Entrepreneurial Spirit

National Startup Day, observed every year on January 16th, honours the creativity, resilience and determination of India’s entrepreneurs. The Confederation of Indian Industry (CII) extends its warm wishes to every stakeholder in the startup ecosystem—founders, investors, enablers, corporates, and policymakers—whose collective efforts have propelled India’s emergence as a global hub for innovation.

Launched in 2016, the Startup India initiative has been a turning point for the entrepreneurial landscape in the country. With over 1.5 lakh startups of which 100 are valued over $1 billion, India is now home to the third-largest startup ecosystem in the world. These achievements underscore the impact of forward-looking policies, the entrepreneurial spirit of Indian founders and the support provided by institutions like CII.

The Confederation of Indian Industry, through its Centre of Excellence for Innovation, Entrepreneurship & Startups (CII CIES), has been at the forefront of fostering innovation and connecting startups with growth opportunities. CII CIES is committed to creating an ecosystem where startups and corporates collaborate for mutual growth.

CII CIES has a unique focus on startups that have progressed beyond the nascent stage and are on the growth path. These startups require the next level of support in terms of market access, venture capital and managerial capabilities. Through our market access programmes, CII CIES facilitates connections between corporates and innovative startups, enabling the latter to market their products and scale up effectively. With additional initiatives like capacity-building masterclasses and international initiatives, the Centre has been instrumental in addressing critical challenges startups face during their growth journey.

One of the key highlights of 2024 was the ICONN Summit, a flagship event that brought together startups, corporates, and academia to explore synergies. Covering sectors such as agri-tech, health-tech, defence-tech, and electric mobility, the summit opened avenues for collaboration and innovation. Additionally, the Centre’s international delegations to the United Arab Emirates and Silicon Valley provided startups with global exposure and connections to venture capitalists and potential customers.

The CII Startupreneur Awards 2024 celebrated the successes of exemplary ventures like Newtrace (green hydrogen), Minimines (battery recycling), Jidoka (AI-powered quality control), and MedPrime (digital microscopes), showcasing the diversity and innovation thriving in India’s startup ecosystem.

India’s startup ecosystem is a testament to the transformative impact of supportive governance. Today, more than 670 districts in India have at least one recognized startup, each generating an average of 11 jobs contributing to a total of 12.42 lakh jobs. Around 50% of startups have at least one woman director and an equal number are based in tier-2 and tier-3 cities. Initiatives like tax reforms for startups, funding support for emerging sectors and schemes promoting ease of doing business have created an enabling environment for entrepreneurship. Forward-thinking bodies like the PMO, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and the NITI Aayog have been instrumental in removing barriers, fostering growth, and championing innovation.

As we celebrate National Startup Day, CII reaffirms its commitment to building a world-class startup ecosystem. Working with key industry leaders, visionary entrepreneurs and experts, we expect orbital shifts in the startup ecosystem that will see startups contributing $1 trillion to the economy by 2035 with 15 to 25 startups leading the global markets. We will continue to expand our efforts to bring more startups, corporates, investors and the government together to catalyse innovation, drive economic growth, and create solutions for global challenges. Our vision is to position India’s startups as global leaders by fostering deeper collaborations, both within the country and on international platforms.

The journey so far has been inspiring, but the road ahead holds even greater promise.

Let us celebrate the achievements of today while committing to the possibilities of tomorrow.