The Startup India initiative was launched by the Prime Minister of India Narendra Modi on 16 January 2015. In 2022, Startup India’s founding day on 16th January is commemorated as National Startup Day.
National Startup Day date
▪ National Startup Day is celebrated on January 16 every year.
▪ National Startup Day is celebrated to recognize the contributions of startups and entrepreneurs to the economy and society.
▪ National Startup Day is first observed on 16 January 2022.
History of National Startup Day
▪ Last year, Prime Minister Narendra Modi declared January 16 as ‘National Start-up Day’.
▪ The announcement was made on January 15, 2022, through video conferencing during the week-long event “Celebrating Innovation Ecosystem” as a part of the Azadi Ka Amrita Mahotsav.
▪ During the event last year, the Prime Minister interacted with over 150 startups across various sectors.
▪ The 150 startups, categorized under six groups, gave presentations to the Prime Minister on six themes —
1. Growing from the roots
2. Nudging the DNA
3. From local to global
4. Technology of the future
5. Building champions in manufacturing
6. Sustainable development.
Startup India Innovation Week 2023
▪ “Startup India innovation week” is organized by the Department for Promotion of Industry and Internal Trade (DPIIT).
▪ DPIIT under the Ministry of Commerce and Industry is organizing Startup India Innovation Week from 10 January 2023 to 16 January 2023.
▪ Startup India Innovation Week is organized to celebrate the Indian Startup Ecosystem as well as National Startup Day (16th January 2023).
▪ Startup India Innovation Week 2023 aims to engage startup ecosystem stakeholders across the country and foster the spirit of entrepreneurship and innovation in India from 10th January-16th January 2023.
Why the National Startup day is Celebrated?
▪ National Startup Day is a day dedicated to celebrating and recognizing the contributions of startups and entrepreneurs to the economy and society.
▪ It is not a national holiday in India. It is observed by the Department for Promotion of Industry and Internal Trade (DPIIT) and individual startup organizations to support and promote the growth and development of the startup ecosystem in India.
▪ National Startup Day is a day celebrated to recognize and encourage entrepreneurship and innovation. It is a day to celebrate the success of a startup and inspire more people to take the leap and start their own businesses.
Significance of National Startup Day
▪ The day aims to raise awareness about the role of startups in a country’s economy, which is to support that country’s economic growth, create jobs, and support the ecosystem that helps them thrive.
▪ The Prime Minister opined that Indian startups can easily reach the global stage and reach out to other countries and told the young entrepreneurs: “Don’t just keep your dreams local, make them global. Remember this mantra – let’s innovate for India, innovate from India”
▪ National Startup Day is a day designated to celebrate and recognize the contribution of startups and entrepreneurship to the economy and society.
▪ The day is usually marked by events and activities that highlight the achievements of startups, as well as provide resources and support for those looking to start their own businesses.
Importance of National Startup Day
▪ In a country like India, where the unemployment rate has risen significantly in the last few weeks, it is very important to create more new startups so that they can create more jobs.
▪ India’s unemployment rate rose to 8.30 percent in December 2022, the highest in 16 months, according to data from the Center for Monitoring Indian Economy (CMIE).
▪ Most of the younger generation in India is chasing government jobs even though the exam success rate is only 3 percent. Just because of job security, they waste 2 to 5 years for govt jobs.
▪ In this context National Startup Day is an initiative to make people aware that apart from government jobs, there are other options like skill-based jobs to take up as startups or businesses where the success rate is much higher.
Startup Ecosystem in India
▪ The startup ecosystem in India is growing rapidly and has received significant attention in recent years. Currently, as of 2022, India is emerging as the 3rd largest ecosystem for startups globally.
▪ According to the Department for Promotion of Industry and Internal Trade (DPIIT) there are 77,000 DPIIT-recognized startups across 656 districts in India by 2022.
▪ India ranks second in the quality of innovation among middle-income economies, including the quality of scientific publications and the top quality of its universities.
▪ Innovation in India recognized startups solving problems in 56 diverse industrial sectors with 13% from IT services, 9% from the healthcare and life sciences, 7% from education, 5% from professional and commercial services, 5% from agriculture, and 5% from food & beverages.
▪ Indian unicorns are thriving in today’s fast-paced and dynamic economy These startups develop new innovative solutions and technologies while creating large-scale employment.
▪ Until the 2016-17 fiscal year, about one unicorn was being added every year. Over the past four years, this number has been growing exponentially, with a 66% year-on-year increase in the number of additional unicorns each year.
▪ As of 7th September 2022, India has 107 unicorns with a net worth of $340.79 billion. Among the total number of unicorns, 44 unicorns worth $93.00 billion in 2021, and 21 unicorns worth $26.99 billion was born in 2022.
▪ Online pharmacy platform Tata 1mg becomes India’s 107th unicorn.
National Startup day Celebration
▪ To commemorate National Startup Day, DPIIT is organizing a felicitation program for the winners of the National Startup Awards 2022, a flagship initiative under Startup India.
▪ The event will recognize and reward excellence demonstrated by startups and ecosystem enablers across sectors, sub-sectors, and categories.
▪ Along with National Startup Day, Startup India Innovation Week 2023 will include knowledge-sharing sessions for entrepreneurs and aspiring entrepreneurs.
▪ Moreover, as part of the Azadi Ka Amrit Mohotsav celebrations, various startup-related events are being organized at more than 75 locations across the country.
▪ This event encourages the spirit of entrepreneurship and innovation by engaging the startup community across the length and breadth of the country.
▪ These events include workshops dedicated to women entrepreneurs, incubator training, mentorship workshops, stakeholder round tables, conferences, capacity-building workshops, startup pitching sessions, etc.
National Startup Day Quotes
▪ National Startup Day is a day dedicated to celebrating and recognizing the contribution of entrepreneurs to the economy and society. Here are some inspirational quotes about National Startup Day.
▪ “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” – Steve Jobs
▪ Believe in yourself and all that you are. Know that there is something inside you that is greater than any obstacle.” – Christian D. Larson
▪ “The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese Proverb
▪ “The biggest adventure you can ever take is to live the life of your dreams.” – Oprah Winfrey
▪ “The best way to predict the future is to create it.” -Alan Kay
▪ “It’s not about ideas. It’s about making ideas happen.” – Scott Belsky
▪ “The biggest challenge in life is being yourself… everyone else is already taken.” – Oscar Wilde
▪ “The biggest risk is not taking any risk… In a world that’s changing quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg
▪ “A business that makes nothing but money is a poor business.” – Henry Ford
National Startup Day Wishes
▪ “Happy National Startup Day! To all the entrepreneurs and visionaries out there, keep pushing forward and making your mark on the world.”
▪ “Happy National Startup Day! To all the risk-takers and game-changers out there, keep pushing boundaries and making a difference in the world.”
▪ “Wishing you a prosperous National Startup Day filled with growth and success for your business. Keep hustling and making your dreams a reality.”
▪ “On National Startup Day, we celebrate the creativity, innovation, and determination of all the startups and entrepreneurs out there. Keep striving for success!”
▪ “Wishing you a National Startup Day filled with new opportunities, bright ideas, and the courage to chase your dreams. May your business soar to new heights.”
Frequently Asked Questions (FAQs)
Q1. When is National startup day celebrated in India?
Answer: 16 January (Annually)
Q2. Who organized the startup India innovation week?
Answer: Department for Promotion of Industry and Internal Trade (DPIIT)
Q3. Why do we celebrate National startup day?
Answer: National Startup Day is celebrated to recognize the contributions of startups and entrepreneurs to the economy and society.
Q4. When was the first National startup day celebrated in India?
Answer: 16 January 2022