Delhi has replaced Bengaluru as the start-up capital of India. The Economic Survey 2021-22 tabled in Parliament noted that over 5,000 recognised start-ups were added in Delhi compared to 4,514 start-ups in Bengaluru between April 2019 and December 2021.
Maharashtra has the highest number of recognised startups, with a total of 11,308 start-ups. The number of new recognised start-ups have increased to over 14,000 in 2021-22 from only 733 in 2016-17. Over 61,400 start-ups have been recognised in India as of January 10, 2022 with a majority in the IT/knowledge-based sector.
In 2021, 44 start-ups turned into unicorns, helping India emerge as the third highest country in terms of number of unicorns after the US and China. India has 83 unicorns with a total valuation of $277.77 billion as of January 14, 2022.
The Economic Survey says that in the last three years the number of start-ups in the space sector has increased from 11 in 2019 to 47 in 2021. One of the important factors responsible for this was providing a predictable, forward-looking, well defined and enabling regulatory regime for space activities in the country.
