{"id":11556,"date":"2022-01-24T19:57:58","date_gmt":"2022-01-24T14:27:58","guid":{"rendered":"https:\/\/www.ixambee.com\/blog\/?p=11556"},"modified":"2022-02-04T22:12:41","modified_gmt":"2022-02-04T16:42:41","slug":"national-startup-day-role-and-significance","status":"publish","type":"post","link":"https:\/\/blog.ixambee.com\/national-startup-day-role-and-significance","title":{"rendered":"National Startup Day: History, Role and Significance"},"content":{"rendered":"\n<p>Prime Minister Narendra Modi recently announced that <strong>January 16<\/strong> will be celebrated as the <strong>National Startup Day<\/strong>. According to him, startups will be the \u201cbackbone\u201d of new India. National Startup Day will bestow a validation upon the role of startups in the growth of India\u2019s GDP. This will strengthen the country\u2019s position on a global stage. The aim of this initiative is to encourage young talent to see entrepreneurship as a primary career option.<\/p>\n\n\n\n<p><strong>#startupday<\/strong><\/p>\n\n\n<figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"National Startup Day: Role &amp; Significance\" style=\"object-fit:cover;\" srcset=\"https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9.png 1920w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9-300x169.png 300w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9-1024x576.png 1024w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9-768x432.png 768w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9-1536x864.png 1536w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9-696x392.png 696w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9-1068x601.png 1068w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/9-747x420.png 747w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/figure>\n\n\n<h2 class=\"wp-block-heading\"><strong>Startup India<\/strong> <strong>Initiative<\/strong><\/h2>\n\n\n\n<p>The Government of India launched the <strong><a href=\"https:\/\/www.startupindia.gov.in\/\" target=\"_blank\" rel=\"noreferrer noopener\">Startup India<\/a> <\/strong>initiative on <strong>January 16, 2016<\/strong>. Its aim is to promote financing for startups. Presently, India has more startups than it ever had. Therefore, this initiative has been a welcome step in this direction. This initiative will help startups in reaching their full potential by providing the right guidance and access. The government aims to improve the ease of doing business by providing the right environment for them. For this, many policy reforms and government collaborations have been made to promote startups in India.<\/p>\n\n\n\n<p>Objectives of Startup India are-<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/rijADxOAhvXJbVzSnogSRf61oU32-Z7_gxzt-3Up2sfh3Qy60SVmSot9vIsjb4RsFMvnAvc0udGiq9XTR4xC_wIpSg_aCIgkuBeWD7U4rrP7unW8F9064L_oIUIMb91EP4s4vNJ4\" alt=\"\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>National Startup Day<\/strong><\/h2>\n\n\n\n<p>In light of the above, January 16 has been designated as the <strong>National Startup Day<\/strong>. PM Modi made this announcement on January 15, 2022 via a video conference during a week-long event <strong>\u201cCelebrating Innovation Ecosystem\u201d <\/strong>as a part of <strong>Azadi ka Amrit Mahotsav.<\/strong> The purpose is to create a startup culture at the grass-root level which will create employment opportunities and promote sustainable development. According to PM Modi, \u2018National Startup Day is a positive step by the government in freeing entrepreneurs and innovation from bureaucratic silos\u2019. He connected with 150 startups from different sectors.<\/p>\n\n\n\n<p>The startups were categorised into six groups and gave presentations to the PM on six themes which were-&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Growing from roots<\/li><li>Nudging the DNA<\/li><li>From local to global<\/li><li>Technology of future<\/li><li>Building champions in manufacturing<\/li><li>Sustainable development<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/8B02uthqRsuzOZKkvAR-npE1DNp1RGBdr1vCttlJRSVofl00MP22SLlFrU0xb2nSDxyjCTBIs4ANw8AoNoPSe93bEQI_cv14TM32GAxC-_eMemSdZzLNgpuznxQ31CLh18nCo7ZN\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Role of Startups in India<\/strong><\/h2>\n\n\n\n<p>Startups being small organizations play a major role in the economic growth of any country. Startups can commence anywhere, but it is often the countries with highest needs and demands that bring the biggest opportunities and initiatives. Therefore, startups generally find their place in underdeveloped and developing countries since such environments have many problems that startups can take advantage of to help a struggling economy.<\/p>\n\n\n\n<p>India being a developing nation, is one of the fastest growing markets globally and holds a unique position for having one of the youngest populations in the world. With 54 percent of the population below the age of 25 years, we have the upper-hand to use the skills and abilities of our youth to propel the nation forward through new innovations. There are several reasons for a booming startup culture in India like- cost benefits, size of the market and skilled human capital.<\/p>\n\n\n\n<p>The startup environment in India has always been a vibrant one, however the last two years have been phenomenal, especially for tech startups. Presently, the Technology startup scene in India has evolved to become the fourth largest in the world.&nbsp;<\/p>\n\n\n\n<p>As per the <strong>Global Startup Ecosystem Index 2021 <\/strong>(Startup Blink), India stands at the 20th position among the top 100 countries. In 2020, India\u2019s rank was 23 and in 2019, India was at the 17th spot.<\/p>\n\n\n\n<p>According to Nasscom\u2019s revised forecast for 2025, the Indian startup ecosystem will have around 37,000 tech startups and 180 to 200 unicorns. Furthermore, in the year 2021 alone, 42 Indian startups across 18 sectors have become unicorn companies. India also saw a record $24.1 billion equity investments in 2021 in the field of technology and education. <\/p>\n\n\n\n<p><strong>Given below is a pictorial representation of the percentage growth of Unicorns in India since 2015-<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"600\" src=\"https:\/\/www.ixambee.com\/blog\/wp-content\/uploads\/2022\/01\/Picture-23-1024x600.png\" alt=\"\" class=\"wp-image-11700\" srcset=\"https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23-1024x600.png 1024w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23-300x176.png 300w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23-768x450.png 768w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23-1536x900.png 1536w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23-696x408.png 696w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23-1068x626.png 1068w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23-717x420.png 717w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/01\/Picture-23.png 1993w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Impact of Startups on Indian Economy<\/strong><\/h2>\n\n\n\n<p>Now that we have understood the role of startups, let\u2019s now understand the impact.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Employment<\/strong><\/h3>\n\n\n\n<p>One of the major problems in modern India is unemployment. With a rise in the number of startups in the country, the need for fresh talent and employees has also risen. In the year 2020 alone, Indian startups generated around six lakh direct jobs and in 2021, this number has risen to 6.6 lakhs. Furthermore, 34 lakh indirect jobs were created in 2021.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Increase in the GDP<\/strong><\/h3>\n\n\n\n<p>GDP (Gross Domestic Products)&nbsp;plays a&nbsp;vital role&nbsp;in magnifying&nbsp;the economic&nbsp;growth of&nbsp;a country. It is possible to generate more revenue domestically and consumer\u2019s capital will also flow around the Indian economy by supporting and encouraging startups.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>New Technology<\/strong><\/h3>\n\n\n\n<p>Startups look for new technologies or create new technologies to simplify workload. This is because, technology has improved operations and lowered the cost of doing business. Once the demand for such technology increases, it will open new avenues for multinational companies to invest&nbsp; in the Indian economy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Decrease in Imports and Increase in Exports<\/strong><\/h3>\n\n\n\n<p>India relies on many countries for a variety of products and services. However, if startups can handle the demand for a particular product or service, we can decrease the imports of such products\/services. This would help in reducing the money flow to other countries which in turn will benefit the country.<\/p>\n\n\n\n<p>If India has more startups, it can produce more goods and services and export them to other countries. This will increase the flow of money from foreign investors in the Indian markets.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/adg6pv9w615fkLfi_QlE0_rYtZOHJ2o6AH5ylS0qSxEVHIgxmDjP6cxfjdex8dNceHC-DTzILIxhmN6pk7KuTehtL6nF3dEAmz2IwzwppOggF9J8MUwg77yWbcr85xgBdXFEy9uo\" alt=\"\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n<p>Since India has always been a land of innovators and creators, the launch of National Startup Day hopes to ensure that Indian startups will bring back the past glory of India in terms of new innovations. The launch of National Startup Day will boost the confidence of present and future entrepreneurs as it celebrates the spirit of entrepreneurship.<\/p>\n\n\n\n<p>We hope you find this article useful. For more information on Current Affairs and General Awareness, read&nbsp;<strong>ixamBee\u2019s<\/strong>&nbsp;<a href=\"https:\/\/www.ixambee.com\/beepedia-gk-updates-capsule?utm_source=ixamBee&amp;utm_medium=footer&amp;utm_campaign=beepedia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>BeePedia<\/strong><\/a>&nbsp;updates. These updates are free and are available in Hindi as well.<\/p>\n\n\n\n<p>Get&nbsp;<strong>Free<\/strong>&nbsp;<strong><a href=\"https:\/\/www.ixambee.com\/\/free-mock-tests\" target=\"_blank\" rel=\"noreferrer noopener\">Online Test Series<\/a><\/strong>, GK updates in the form of<strong>&nbsp;BeePedia.&nbsp;<\/strong>Similarly, get the latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs as well.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Also Read<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.ixambee.com\/blog\/republic-day-a-brief-summary-of-the-indian-constitution\/\" target=\"_blank\" rel=\"noreferrer noopener\">Republic Day 2022: Brief Summary of the Indian Constitution<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ixambee.com\/blog\/cryptocurrency-a-future-or-concern-for-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">Cryptocurrency: A future or Concern for India<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ixambee.com\/blog\/ipo-full-form-meaning-and-latest-developments\/\" target=\"_blank\" rel=\"noreferrer noopener\">IPO Full Form: Meaning and Latest Developments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prime Minister Narendra Modi recently announced that January 16 will be celebrated as the National Startup Day. According to him, startups will be the \u201cbackbone\u201d of new India. National Startup Day will bestow a validation upon the role of startups in the growth of India\u2019s GDP. This will strengthen the country\u2019s position on a global [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":11561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,9,8,6],"tags":[638,635,637,636],"class_list":["post-11556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-articles","category-current-affairs","category-daily-gk","category-exams","tag-impact-of-startups","tag-national-startup-day","tag-role-of-startups","tag-startup-india-initiative"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>National Startup Day: History, Role and Significance<\/title>\n<meta name=\"description\" content=\"National Startup Day- Read here about the role and significance of the National Startup Day and the importance of startups in the economy.\" \/>\n<meta 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