Delhi takes the crown of startup capital of India from Bengaluru: Economic Survey 2021-22
Bengaluru has been the home of most startups in India for some time now. However, the title of the startup capital of India has now been taken by the national capital Delhi. The news was revealed in the Economic Survey 2021-22, which was tabled in Parliament on Monday.
According to the Economic Survey, 4,514 startups were added in Bengaluru between April 2019 and December 2021, whereas, Delhi saw a number of over 5,000 startups.
Congrats Delhi for yet another achievement
Delhi with 5,000 start-ups replaces Bengaluru as start-up capital: Economic Survey- The New Indian Express https://t.co/RDET4oEkVg
— Arvind Kejriwal (@ArvindKejriwal) January 31, 2022
Maharashtra has the highest number of recognised startups in the country with a total of 11,308 startups.
The report also revealed that India recorded 44 startups reaching the unicorn status in 2021, overtaking the UK to become the third-highest country in the number of unicorns after the US and China which added 487 and 301 unicorns, respectively in 2021. Currently, India has a total of 83 unicorns with a total valuation of $277.77 billion.
“Most of India’s startups are in the IT or knowledge-based sector. Intellectual property, specifically patents are key to this knowledge-based economy. There has been a gradual increase in the filing and granting of patents in India,” the survey noted.
The survey also revealed that the number of patents filed in India rose from 39,400 in 2010-11 to 45,444 in 2016-17 to 58,502 in 2020-21. The patents granted in the country went up from 7,509 to 9,847 to 28,391, respectively. Notably, the number of patent applications are increasingly coming from Indian residents, rather than MNCs.
The share of Indian residents in total applications has increased from 20 percent in 2010-11 to around 30 percent in 2016-17 and 40 percent in 2020-21.
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