India’s startup ecosystem has been a significant source of job creation, with around 24–25 lakh jobs generated in the past ten years, according to Union Minister Dr. Jitendra Singh. Starting with only 350–400 startups a decade ago, India now boasts nearly 2.3 lakh ventures, positioning it as the world’s third-largest startup ecosystem and signaling a shift towards a full-fledged innovation economy.
Speaking at the ‘RISE Conclave 2026’ in Bengaluru, Dr. Singh attributed many positive changes in the science and technology sector to Prime Minister Narendra Modi’s policies. The ‘Startup India’ initiative launched in 2015 set the stage for a dynamic entrepreneurial environment, with subsequent reforms opening doors for private sector involvement in key industries and encouraging youth to pursue innovation-driven careers.
Dr. Singh emphasized that these efforts have cultivated a supportive environment, leveraging India’s demographic dividend to establish itself as a global innovation hub. The ‘RISE Conclave’ aims to unite Research, Industry, Start-ups, and Entrepreneurship, showcasing the government’s dedication to fostering collaborations among scientists, businesses, investors, academia, and policymakers for a self-reliant and innovation-focused India.
Highlighting the success of the country’s first public-private aerospace incubation center, ‘mach33.aero,’ established by CSIR-NAL in partnership with other organizations, Dr. Singh mentioned that it has nurtured 34 startups in its five years of operation. The ‘RISE Conclave 2026’ has attracted over 125 startups, particularly from the aerospace sector, underscoring the increasing confidence of young innovators in high-tech fields.
