Mumbai: The economic survey revealed that the state has the highest share of about 24% among the start-ups recognised by the Centre’s Department for Promotion of Industry and Internal Trade (DPIIT) as of Jan 23.
There are at least 15 start-ups in each district of the state. Up to Oct, from the 117 unicorns (a company with a valuation of more than $1 billion) start-ups in India, 27 are in the state. Maharashtra is the only state to have a fintech policy and has a dedicated supporting team, the ‘Mumbai Fintech Hub’, for fintech startups, said the survey report.
Maharashtra State Innovation Society
(MSInS) serves as the nodal agency for start-ups and innovation in the state. It is responsible for implementing initiatives under the ‘Maharashtra State Innovation Startup Policy-2018′. With the presence of several major investors and a network of more than 125 incubators, the state created a favourable environment for start-ups. The state allocated venture funding of Rs 500 crore for start-ups and MSMEs through three venture funds.
Maharashtra Start-up Week
is the initiative platform through which 24 start-ups with innovative solutions get a work order of Rs 15 lakh each. From five events organised so far, innovative solutions worth Rs 18 crore were procured from start-ups. Maharashtra Start-up Week pilots were deployed in 30 districts in the state.
The report pointed out that the Punyashlok Ahilyadevi Holkar Women’s Start-up Scheme was launched in 2024 to address the need to provide financial support to women-led start-ups and innovative start-ups for business growth and expansion. The objective of the scheme is to make women start-ups self-reliant and independent, promote job creation to reduce unemployment, and establish the state having the highest number of women start-ups in the country. The scheme offers one-time financial assistance ranging from Rs 1 lakh to Rs 25 lakh based on start-up turnover. Under the scheme, 25% of the total allocated funds are reserved for women from marginalised and economically disadvantaged backgrounds. In the first phase, Rs 74 lakh was distributed among the 20 women start-ups, and in the second phase, Rs 55 lakh was distributed among the 11 women start-ups.
The report pointed out that the state was authorised to organise a national-level Start-up Mega Conference/Conclave to connect start-ups with investors and mentors to facilitate the exchange of knowledge and experiences, provide investment opportunities, market linkages, and foster collaboration between the state’s startup ecosystem, investors, and stakeholders across the co
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