The Startup India Hub has been able to resolve over 12,000 queries received from startups since it began operations in April this year, the government said on July 6.

“The hub has been able to resolve 12,290 queries received from start-ups through telephone, e-mail and twitter,” the Union Commerce Ministry here said in a status report.

The Startup India Hub was operationalised on April 1, 2016, to resolve queries and provide hand-holding support to startups.

“Startup India Hub would soon be launching an interactive online learning and development module to educate startups and aspiring entrepreneurs, through various stages of their entrepreneurial journey,” the report said.

In order to augment the existing list of incubators, which issue recommendation letters, the ministry has set up a module.

“This shall enable incubators to obtain recognition from the Government of India,” it said.

“Seven proposals for research parks, 16 proposals for TBIs (Technology Business Incubators) and 13 proposals for Start-up Centres have been recommended by the National Expert Advisory Committee formed by the Human Resource Development Ministry,” it said.

“These proposals shall be implemented in the current financial year,” it added.

In this connection, industry organisation Nasscom has said India ranks third globally with the number of startups crossing 4,200.

In its latest report titled “Startup India – Momentous Rise of the Indian Startup Ecosystem”, Nasscom said that there was a 100 per cent growth in the number of private equity, venture capitalists, angel investors, along with a 125 per cent growth in funding last year over 2014.

The total funding in the India-based startups was estimated to be nearly $5 billion by 2015.

India is also the world’s youngest startup nation with 72 per cent founders younger than 35 years, as per the report.

Source: The Economic Times