THEBUSINESSBYTES BUREAU

NEW DELHI, JANUARY 16, 2026

 “Startup India is not just a scheme, it is a rainbow vision connecting diverse sectors with new opportunities,” Prime Minister Narendra Modi said on Friday as he addressed the programme marking a decade of the Startup India initiative on the occasion of National Startup Day at Bharat Mandapam here. Speaking before a gathering of startup founders, innovators and policymakers, the Prime Minister described the celebration as a moment that symbolises the aspirations and confidence of a new and rising India.

Interacting with young entrepreneurs working across agriculture, fintech, mobility, health and sustainability, the Prime Minister said their ideas were impressive, but what stood out even more was their confidence and ambition. Recalling the launch of Startup India ten years ago, he expressed satisfaction over how the initiative had grown into a nationwide movement driven by youth focused on solving real-life problems. He lauded the courage of young innovators who dared to dream differently and transform challenges into opportunities.

Marking the completion of a decade, Modi said the journey of Startup India was not merely the success of a government programme, but the story of millions of dreams taking shape. He recalled that ten years ago innovation had limited space to flourish, but the initiative challenged those constraints by giving young Indians the freedom to experiment and build. “In just 10 years, the Startup India Mission has become a revolution. Today, India is the world’s third-largest startup ecosystem,” he said, noting that the number of startups has grown from fewer than 500 in 2016 to over two lakh today. He highlighted that India had just four unicorns in 2014, compared to nearly 125 active unicorns now, a transformation that has drawn global attention.

The Prime Minister pointed out that the momentum continues to accelerate, with startups scaling up, entering capital markets and creating jobs. In 2025 alone, nearly 44,000 new startups were registered, the highest in any single year since the initiative began, reflecting the sector’s growing role in employment generation, innovation and economic growth. He expressed confidence that many of the young innovators present would themselves become case studies in India’s startup success story.

Modi noted that Startup India has fundamentally changed the country’s entrepreneurial culture. Earlier, he said, starting a business was largely the domain of established industrial families, while middle-class and poorer youth aspired mainly to secure jobs. That mindset has shifted, with entrepreneurs now emerging from Tier-2 and Tier-3 cities and even villages, building ventures that address grassroots challenges. This spirit of contributing to society and nation-building, he said, held immense value.

Highlighting inclusivity, the Prime Minister said women have played a significant role in this transformation, with more than 45 per cent of recognised startups having at least one woman director or partner. He noted that India has become the world’s second-largest ecosystem for women-led startup funding, strengthening the country’s innovation potential.

Explaining why startups matter so deeply to India’s future, Modi cited the country’s young population, rapid economic growth, expanding infrastructure and emergence of new sectors. Yet, he said what touched him most was the startup spirit itself—the refusal of young Indians to remain in comfort zones or follow beaten paths. He emphasised that enterprise is driven by courage and hard work, and noted that risk-taking, once discouraged, has now become mainstream and respected.

Drawing a parallel with his own approach to governance, the Prime Minister said he has always believed in taking risks for the nation’s benefit, even when issues carried political or administrative challenges. Like innovators, he said, he believes that if something is necessary for the country, someone must take responsibility for it.

The Prime Minister outlined how the past decade has seen the creation of a strong innovation ecosystem through initiatives such as Atal Tinkering Labs in schools, nationwide hackathons and a network of incubation centres to ensure ideas are supported with resources. He recalled that complex regulations and inspector raj once hindered innovation, prompting the government to introduce reforms based on trust and transparency. Under the Jan Vishwas Act, more than 180 provisions have been decriminalised, while self-certification, easier mergers and smoother exits have reduced the compliance burden on startups.

Elaborating on his vision, Modi reiterated that Startup India connects opportunities across sectors. He cited defence manufacturing, where initiatives like iDEX have opened new procurement pathways, and the space sector, now home to nearly 200 startups after being opened to private participation. He highlighted reforms in the drone sector and the role of the Government e-Marketplace, which has onboarded around 35,000 startups and small businesses, facilitating orders worth nearly ₹50,000 crore.

Stressing the importance of capital, the Prime Minister said access to finance has been a key focus, with over ₹25,000 crore invested through the Fund of Funds for Startups and additional support through seed funding and credit guarantee schemes. He also underlined the importance of research and intellectual property, citing the ₹1 lakh crore Research, Development and Innovation Scheme and a deep tech fund of funds to support sunrise sectors.

Looking ahead, Modi said India must prepare for emerging domains critical to economic security and strategic autonomy, particularly artificial intelligence. He noted that startups will carry the responsibility of leading India’s AI journey, with support through the India AI Mission and infrastructure such as GPUs to make advanced technology accessible. Similar efforts, he said, are underway in semiconductors, data centres and green hydrogen.

Calling on startups to aim for global leadership rather than mere participation, the Prime Minister urged greater focus on manufacturing and the creation of world-class products rooted in unique technological ideas. Assuring full government support, he concluded that the achievements of the past decade demonstrate India’s capabilities, and the next ten years must see the country leading the world in new startup trends and technologies.

Union Minister Piyush Goyal and other dignitaries were present at the event.