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With Over 5000+ Ventures, Delhi Dethrones Bengaluru As India's Startup Capital: Report
Writer: Devyani Madaik
A media enthusiast, Devyani believes in learning on the job and there is nothing off limits when it comes to work. Writing is her passion and she is always ready for a debate as well.
Delhi, 1 Feb 2022 10:26 AM GMT
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Creatives : Devyani Madaik
A media enthusiast, Devyani believes in learning on the job and there is nothing off limits when it comes to work. Writing is her passion and she is always ready for a debate as well.
The figures were revealed in the Economic Survey 2021-22. The survey noted that there had been a gradual increase in the filing and granting of patents.
The national union territory has replaced Bengaluru as the country's startup hub, with more than 5,000 ventures that were established between April 2019-December 2021. The figures are of the Economic Survey 2021-22 that was tabled in the parliament, on Monday.
It's an annual report of the economy, which examines the performance of several sectors and provides feedback accordingly. It also puts forward a GDP growth projection. This year, most of the ventures are in the IT or knowledge-based sector.
Maharashtra With Maximum Recognised Startups
As per the reports, after Delhi with 5,000 recognised ventures, Bengaluru stood second with nearly 4,514 startups between 2019-2021.
Surpassing all of them was Maharashtra on the top list, with 11,308 startups, the highest number of recognised ventures in the country.
Chief Minister Arvind Kejriwal took to Twitter, congratulating the entrepreneurs and people working towards their dream of establishing a firm.
According to the Economic Times report, India had a record number of startups (44) reach unicorn status in 2021. It overtook the United Kingdom to emerge as the third highest country, after the US and China, which added 487 and 301 unicorns the same year, respectively.
This year, the country has 83 unicorns with a total valuation of USD 277.77 billion, up till January 14.
Rise In Patent Filings, Sanctions
The survey noted that there had been a gradual increase in the filing and granting of patents.
Between 2010-11, there were 39,400 patents filed; 45,444 were filed in 2016-17, and 58,502 in 2020-21. The approvals have also gone up from 7,509 to 9,847 to 28,391 during the same period.
The survey revealed that the indian residents were more in number than the Multinational National Corporations in filing for patents. The share of applicants has increased from 20 percent in 2010-11, 30 percent in 2016-17, to 40 percent in 2020-21.
Intellectual property and patents remain the basis of the knowledge-based economy.
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