Union Minister Jitendra Singh has said that StartUps in India grew 300 times in the last 9 years. There were just around 350 StartUps before 2014, but after rolled out of special StartUp scheme in 2016, there has been a quantum jump in StartUps to more than 90,000 with more than 100 Unicorns.
The minister further added that simultaneously Prime Minister Modi opened up the Space sector for private participation leading to more than 100 StartUps in the Space sector within just about three years. Similarly, Biotech StartUps went up from around 50 to nearly 6,000.
Appreciating the efforts of the Department of Science and Technology and National Innovation Foundation (NIF) for organising the Festival of Innovation & Entrepreneurship (FINE), Singh noted that it is a unique effort to promote Science, Technology and Innovation even among those who may not be highly educated in the formal sense or may have not even be science students but who possess inherent talent and inborn aptitude for innovation and entrepreneurship, which also may become a source of livelihood for them.