CURRENT AFFAIRS

Detailed explanation-1: -Noting that Kerala has built the most vibrant startup ecosystem in the country that is comparable to the best anywhere in the world, Chief Minister Pinarayi Vijayan on Thursday assured his government’s full support to startups which have a pivotal role to play in the state’s journey towards a knowledge economy.

Detailed explanation-2: -The Indian startup ecosystem has grown exponentially due to an increasing number of unicorns and a steady rise in venture capital inflow. Since 2014, annual VC funding to Indian startups has grown eightfold (8.4x, to be precise), from $5 Bn in 2014 to $42 Bn in 2021.

Detailed explanation-3: -Union Minister Smriti Irani on Tuesday said India has emerged as the third-largest startup ecosystem in the world with more than 84,400 such businesses operating across 656 districts in the country.

Detailed explanation-4: -Menu. India has about 50,000 startups in India in 2018; around 8,900 – 9,300 of these are technology led startups 1300 new tech startups were born in 2019 alone implying there are 2-3 tech startups born every day.

Detailed explanation-5: -The Indian startup ecosystem has raised a total of $136 billion in funding, of this $5 billion was raised in the seed stage, $32 billion was raised in the growth stage, and $97 billion was raised in the late stage, said the National Startup Day report by Inc42. The funding data is for the period of 2014-2022.