As Prime Minister Narendra Modi and French President Emmanuel Macron prepare to jointly inaugurate the Bharat Innovates Summit in Nice, France on Sunday, the spotlight is on India’s remarkable startup journey over the past twelve years. From around three hundred and fifty recognised startups in 2014, India has emerged as the world’s third-largest startup ecosystem, with over two lakh thirty five thousand DPIIT-recognised startups and 131 unicorns.
Several reforms brought by the Government over the last twelve years from the launch of Startup India, establishment of Atal Incubation Centres, the Fund of Funds, and simplified compliance norms have transformed India’s entrepreneurial landscape beyond recognition. The ecosystem today spans deep technology, space, defence, agritech, healthtech and clean energy. Among those that will be spotlighted at the summit is MedevPlus, a med-tech startup that has developed a portable comprehensive eye screening device now being adopted across India, Europe and USA built mostly on government support, without any venture capital funding.
It may be noted that the India-France Year of Innovation, of which this summit is the centrepiece, seeks to deepen collaboration between the two nations in emerging technologies, startups and scientific research. The joint inauguration by the two leaders on 14th June will mark a new chapter in India’s journey from a promising startup nation to a confident innovation powerhouse.
