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13/08/2022 01:26pm

Half of startups originating from tier-2 & 3 cities: Union Minister Jitendra Singh

image Half of startups originating from tier-2 & 3 cities: Union Minister Jitendra Singh

New Delhi, Aug 13 (KNN) Around 49 per cent on the Indian startups are now coming from tier 2 and tier 3 cities, Union Minister Jitendra Singh said on Friday.

Speaking at the DST StartUp Utsav held at the Dr Ambedkar International Centre,Singh said that most of the  startups from smaller cities are working in fields like IT, agriculture, aviation, education, energy, health and space sectors.

"The decade 2021-30 is expected to bring transformational changes for Indian science, technology and innovation (STI)," he said.

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Recently,Piyush Goyal, Commerce and Industry Minister has highlighted that 

India, in its 75th year of Independence, is now home to as many as 75,000 startups.

As per the latest data, there are currently 105 unicorns, out of which 44 were born in 2021 and 19 in 2022.

Singh said that India in its 75th year of Independence is now home to as many as 75,000 startups.

"India ranks third among the most attractive investment destinations for technology transactions in the world as it has a strong focus on science and technology," he added.

Even as funding into the Indian startups in the April-June quarter slowed down significantly at about USD 7 billion compared to about USD 10 billion in the corresponding period in the previous year, most entrepreneurs in the country remain unfazed.

Despite the pandemic last year, more than 30 startups in India made it to the prestigious Unicorn list.  (KNN Bureau)

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