Subhechcha Ganguly 
In 2022, there was a striking increase in new registrations in India. The number of firms registered under the Startup India initiative soared to 26,522, according to data provided in the Rajya Sabha, representing a 32.6% rise over the 19,989 registrations made the year prior. Maharashtra with 4,801 registrations, followed by Uttar Pradesh with 2,572 and Delhi with 2,567, making it one of the top three states driving the startup revolution.
The startup ecosystem was greatly boosted by the Startup India programme, which was unveiled in January 2016. It included 19 actions aimed at streamlining procedures, delivering financial assistance, providing three years of tax breaks, and encouraging collaborations and incubation between business and academia.The government implemented a number of initiatives, including the Startup India Seed Fund Scheme (SISFS) and the Credit Guarantee Scheme for companies (CGSS), to support the growth of companies. These programmes aimed to foster an environment where ambitious business owners might successfully launch their companies.
However, the Indian startup ecosystem encountered certain difficulties despite the positive surge in registrations. According to industry intelligence platform Tracxn’s India Tech Semi-Annual Report 2023, financing fell significantly in the first half of 2023 compared to the first half of 2022 by 72%. The impressive $19.7 billion raised in the first half of 2022 was far exceeded by the modest $5.5 billion overall fundraising in H1 2023.
