Vijayawada, Mar 27 (KNN) From 2020 to 2022 the registration of startups in Andhra Pradesh has increased from 231 to 382 which is 65 per cent.

Overall across the country the registration of startups has gone up from 14,498 in 2020 to 26,542 in 2022.

This was informed by the Union Minister of State for Commerce and Industry Som Parkash in the Rajya Sabha.

Since the launch of the Startup India initiative in 2016, the DPIIT has recognised 92,683 entities as startups as on February 28, 2023.

Specifically, in the last three years (2020, 2021 and 2022) and the current year (as on February 28, 2023), 67,223 entities have been recognised as startups by the DPIIT.

Sector-wise, the highest number of 7,587 startups have been registered in IT Services, followed by Healthcare and Lifesciences with 6,459, and Education with 4,164.

Under the Startup India initiative, the government makes efforts for the development and growth of the startup ecosystem in the country.

The flagship schemes like Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) support startups at various stages of their business cycle to enable them to graduate to a level where they are able to raise investments from angel investors or venture capitalists or seek loans from banks or institutions.  (KNN Bureau)