New Delhi, 5 June (KNN) A total of 18, 861 startups have come under recognition since the launch of Startup India Initiative in 2016, said Ramesh Abhishek, Secretary of Department for Promotion of Industry and Internal Trade (DPIIT) in a series of tweets.

He tweeted “Since the beginning of Startup India Initiative, 18861 startups have been recognized by DPIIT. In May 2019 only, 814 startups have received recognition. This is more than 1 startup every hour! These entities are spread across 513 districts of 29 States and 6 UTs.”

In addition, a total of 1,87,004 jobs have been reported by 16,105 DPIIT recognized startup i.e. more than 11 indirect jobs per Startup. With each direct job leading to 3X indirect jobs, total jobs created by these startups are estimated at more than 5.6 lakh, said Abhishek in another tweet.

The Secretary informed, Small Industries Development Bank of India (SIDBI) has committed Rs 2,570 crore from Fund of Funds to 45 Venture funds catalyzing investments of more than Rs 25,000 crore. 1,862 startups have registered receiving 7,697 orders of Rs 275 Crore till the month of April.

In his series of tweet, he said, 1,496 enterprises have received 8o percent refund in patent fillings and 2,761 have got 50 percent refund in trademark filling fees.

For online purchasing of goods and services by all the Central Government Ministries and Departments this portal was launched on 2016. Start-ups can now get government orders on GeM Startup Runway, while getting exemption from prior turnover, prior experience and earnest money deposits.