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StartupShala Flagship Accelerator Program

January 30, 2024

GS Paper II Indian Economy

Context:

StartupShala has been introduced by the Department for Promotion of Industry and Internal Trade (DPIIT).

What is the StartupShala Flagship Accelerator Program?

  • Aim: To accelerate the development and success of early-stage startups by providing resources and opportunities to accelerate one’s startup journey to the next level.
  • In this program an extensive network of partners from different incubation centers, educational institutions, and large corporate entities come together to offer startups diverse facilities and resources.

Eligibility Criteria For Startups to Apply for Program

  • It should be a DPIIT-recognised startup.
  • It is important for the startup to work in the sustainability sector.
  • The startup should generate revenue.
  • The startup should be a growth stage startup.

Significance of StartupShala Flagship Accelerator Program

  • Programs like StartupShala drive innovation and create wealth.
  • The StartupShala Flagship Accelerator program will help to kick-start the engine of economic growth by encouraging growth-stage startups to lead the market.

Additional Reading: Startup Ecosystem in India

  • As of May 31st 2023, India has emerged as the world’s third-largest startup ecosystem.
  • In the Global Innovation Index 2023, India ranks 40th out of 132 economies. This has been better than the past ranking of 2015 which was 81.
  • As of May 2023, India boasts 108 Unicorns with a combined valuation of USD 340 billion.

 

Also Read: Startup Ecosystem In India

News Source: PIB

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