India Startup Grand Challenge

Why in News?

Piyush Goyal, Union Minister of Commerce and Industry, Government of India has launched "Improv Factbook and India Startup Challenge" on the 9th Foundation Day of Startup India.

Improv Factbook:

It is a digital platform aimed at showcasing the social and economic impact of Indian startups.
This platform will serve as an evidence-based database to share the innovation, change in society, and development efforts of startups.
It will collect the social contribution of startups, sustainability initiatives, and work done for the betterment of society.

India Startup Grand Challenge will provide startups an opportunity to find solutions in various industries and technological fields by collaborating with 20 big companies.
By collaborating with these companies, startups can solve the latest problems, such as-
- Sustainability and environmentally friendly solutions in the field of renewable energy
- Technological innovations for agriculture in Agritech.
- Better health facilities and technological solutions in Healthcare.
- Development of new systems in robotics and cleantech.
- Advanced technological solutions in blockchain and semiconductors.
- Creation of new opportunities for businesses in social commerce and e-commerce
It motivates Indian startups to develop beneficial solutions for the society.
It provides all the necessary resources and support to make them competitive at a global level.

This initiative of the Government of India was launched on 16 January 2016.
It aims to promote innovation, business opportunities and employment opportunities in India as well as strengthen the startup ecosystem.
Achievements of Startup India:
- India has become the third largest startup ecosystem in the world with 1,59,157 startups as of January 15, 2025.
- The number of startups was around 500 in the year 2016.
- It is generating 17.2 lakh direct jobs.
- Startups have received a total funding of Rs 13 trillion from the government so far.