Bangalore has been home to the largest number of startups in India for some time now. However, the title of startup capital of India has now been taken over by the national capital Delhi. This news came out in the Economic Survey 2021-22 tabled in Parliament on Monday.
According to the Economic Survey, Bengaluru saw 4,514 startups added between April 2019 and December 2021, while Delhi saw over 5,000 startups.
Congratulations to Delhi for another achievement
Delhi Places Bengaluru As Start-up Capital With 5,000 Start-ups: Economic Survey – The New Indian Express https://t.co/RDET4oEkVg
— Arvind Kejriwal (@ArvindKejriwal) 31 January 2022
https://platform.twitter.com/widgets.js
Maharashtra has the highest number of recognized startups in the country with a total of 11,308 startups.
The report also revealed that India recorded 44 startups reaching unicorn status in 2021, overtaking the UK to become the third largest country 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 the startups in India are in the IT or knowledge-based sector. Intellectual property, especially patents, is the key to this knowledge-based economy. There has been a gradual increase in the filing and grant of patents in India,” the survey said.
The survey also revealed that the number of patents filed in India increased from 39,400 in 2010-11 to 45,444 in 2016-17 and 58,502 in 2020-21. Patents granted in the country increased from 7,509 to 9,847 to 28,391 respectively. Notably, the number of patent applications is increasingly coming from Indian residents rather than from multinational companies.
The share of Indian residents in the total applications has increased from 20 per cent in 2010-11 to about 30 per cent in 2016-17 and 40 per cent in 2020-21.
Delhi Takes Crown of India’s Startup Capital from Bengaluru: Economic Survey 2021-22 First appeared on BGR India.
