(The Gist of PIB) Announcement of Results of National Startup Awards 2020 

(THE GIST OF PIB) Announcement of Results of National Startup Awards 2020 


Announcement of Results of National Startup Awards 2020 

  • National Startup Awards were organized by Startup India, a flagship initiative of Government that aims to build a strong eco-system for nurturing innovation and Startups in the country.


  • Awards seek to recognize and reward outstanding Startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.
  • Aim is to guide organizations to stop measuring success in just financial gains for investors but also the contribution to social good.
  • Applications were invited across 12 sectors such as Agriculture, Education, Energy, Finance, Health, Space etc.
  • Six parameters were evaluated: Innovation, Scalability, Economic Impact, Social Impact, Environmental Impact, and Inclusiveness and Diversity.

During the event following initiatives were also launched:

  • Startup India Showcase, a part of the Startup India portal, an online discovery platform for the most promising startups of the country. It will help industry, investors and public authorities find and connect with startups for potential partnerships, investments and public procurement respectively.
  • Blockchain-based Certificate Verification System will enable instant verification and access to certificates of recognitions issued by DPIIT.

Key outcomes of India’s startup growth story as of September 30, 2020:

  • India is the 3rd largest startup ecosystem in the world.
  • India is home to 21 unicorns (startups valued at $1 Bn+) with a combined valuation of over $73 Billion.
  • 30 States and UTs now have State Startup Policy.
  • More than 43% of the total recognized startups have reported one or more women directors.
  • 37, 000+ startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
  • 39 regulations have been simplified for the startup ecosystem in India.
  • On an average 12 jobs created per startup.
  • The entire startup ecosystem raised $50 Billion funding between 2014-2019.



Study Material for UPSC General Studies Pre Cum Mains

Get The Gist 1 Year Subscription Online

Click Here to Download More Free Sample Material

<<Go Back To Main Page

Courtesy: PIB