Piyush Goyal: Up To 1,61,150 Entities Recognised As Startups As Of Jan. 31

Up to 1,61,150 entities have been recognised as startups by the government as of Jan. 31 this year according to a statement Piyush Goyal gave to the parliament.

The Commerce and Industry Minister informed Lok Sabha that 28,511 entities have been recognized as startups in Maharashtra and 16,954 in Karnataka. in a written reply to the Lok Sabha.

"As on 31st Jan. 2025, 1,61,150 entities have been recognised as startups by Department for Promotion of Industry and Internal Trade," he said.

The government recognises eligible units, making them eligible for tax incentives under the Startup India Action Plan. The Startup India initiative provides support to recognised startups.

Indian startups raised $1.65 billion in funding in February 2025, at a median valuation of $83.2 million, according to Tracxn data. This brings the total funding for fiscal 2025 to $25.4 billion across 2,200 rounds.

February's funding saw a 19.5% increase from January's $1.38 billion. However, this represents a year-on-year decline from February 2024's $2.06 billion.

Bengaluru startups secured $353 million in funding, with a median round size of $2 million. Mumbai startups raised $102 million, with a higher median round size of $5 million.

The Karnataka government also launched a startup initiative to establish an ecosystem beyond Bengaluru, stimulating innovation and entrepreneurship. The government will launch the Local Economy Accelerator Program this year with a Rs 1,000 crore grant.

The government allocates Rs 200 crore for the current financial year and aims to create 5 lakh job opportunities statewide.

The government will develop a startup ecosystem in Mysuru, Mangaluru, Hubballi-Dharwad, and Kalburgi, using a lifecycle approach to establish incubators, accelerators, centres of excellence, and global technology centres.

The government will also allocate Rs 300 crore for a fund of funds and a Rs 100 crore corpus fund for deep-tech development.

(With Inputs From PTI)