Government to Redefine Startups: Boosting the Innovation Ecosystem

The government plans to broaden the definition of startups to enhance the ecosystem, including deep-tech ventures and cooperatives. This expansion aims to encourage innovation, with over 200,000 entities currently registered as startups. The initiative supports businesses pivoting to deep-tech sectors.

The government is poised to broaden the definition of startups, aiming to bolster the country's entrepreneurial ecosystem, an official revealed on Wednesday.

This update will encompass deep-tech and cooperatives, facilitating startups to transition into deep-tech fields. Officials affirm that numerous initiatives have already been implemented to promote startup innovation across the nation.

Currently, the commerce and industry ministry recognizes over 200,000 entities as startups, reflecting substantial growth in the sector.

(With inputs from agencies.)