Policy Interventions: A Game Changer For The Growth Of The Startup Ecosystem In India
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Abstract
This study attempts to present an assessment of the different Startup policies implemented in Indian states/Union Territories and their effectiveness in the growth of the startup ecosystem in India. Government policies play a major role in systematically paving the way for the promotion of startups and entrepreneurship in every country. Currently, 31 out of 36 State/Union territory governments of India have their respective startup policies. We collected data and examined the impact of the policies on the growth of the startup ecosystem in India. The results indicate that policies significantly impact the growth of Mentors, Investors, Incubators, and Accelerators, and in return, Mentors, Investors, Incubators, and Accelerators influence the growth of Startups in India. As a result, India is now home to more than 1,00,000 DPIIT-recognized startups as of 31st March 2023 as reported in investmentindia.gov.org. This study makes players in the startup ecosystem aware of the assistance state-owned agencies provide in building entrepreneurial skills, obtaining funding, handholding facilities, and so on.