National Entrepreneurship Day

Why in News?

The Ministry of Skill Development and Entrepreneurship was established on 9 November 2014. The day is observed as National Entrepreneurship Day, highlighting the role of entrepreneurship in India’s economic development.

Growth of India’s Startup Ecosystem

• India has the third-largest startup ecosystem in the world.
• The number of DPIIT-recognised startups has increased from fewer than 500 in 2014 to more than 2.62 lakh as of November 2026.
• Startups have generated more than 25 lakh direct jobs up to October 2026.
• Startups are present across all States and Union Territories.
• Maharashtra, Karnataka, Uttar Pradesh, Delhi and Gujarat are among the leading regions in recognised startups and direct employment generation (as of 31 March 2026).
• The number of recognised startups increased by 51.6% year-on-year in FY 2025–26 compared with FY 2024–25.
• Direct employment generated by startups increased by 36.1% during the same period.
• More than 1.07 lakh startups have at least one woman director or partner, accounting for approximately 48% of all recognised startups as of March 2026.

Startup India Initiative

• Launch: 2016.
• Implementing department: Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
• Objective: To promote innovation, entrepreneurship, investment and employment generation.
• It provides support to startups at different stages, from ideation to business expansion and scaling.

Major Schemes Supporting Startups

1. Fund of Funds for Startups (FFS)

• A flagship initiative of DPIIT under the Startup India Action Plan.
• Managed by the Small Industries Development Bank of India (SIDBI).
• Original corpus: ₹10,000 crore.
• Channels funding through SEBI-registered Alternative Investment Funds (AIFs), which invest in eligible startups.
• Aims to improve access to domestic risk capital.

2. Startup India Fund of Funds 2.0

• Notified in April 2026.
• Has a separate corpus of ₹10,000 crore.
• Aims to further strengthen funding support for the startup ecosystem.

3. Credit Guarantee Scheme for Startups (CGSS)

• Operational since April 2023.
• Facilitates collateral-free loans to eligible startups through eligible financial institutions.
• Aims to improve access to institutional credit and reduce financing constraints.

Source: PIB

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