Piyush Goyal Launches PRABHAAV Factbook and Startup Challenge

The 9th Foundation Day of Startup India, celebrated in New Delhi, marked a significant milestone in India’s journey toward becoming a global leader in innovation and entrepreneurship. Union Minister of Commerce & Industry, Shri Piyush Goyal, launched key initiatives, including the PRABHAAV Factbook and the Bharat Startup Challenge, while emphasizing the transformative role of startups in shaping India’s economic and social landscape. The event highlighted India’s achievements in fostering a thriving startup ecosystem, empowering women entrepreneurs, and supporting Tier II and Tier III city startups.

Key Highlights

Role of Funding Instruments

• Fund of Funds for Startups (FFS), administered by SIDBI, played a pivotal role in mobilizing private capital, especially in Tier II and III cities.
• Startups have received total funding of ₹13 trillion from the government.

Key Launches

PRABHAAV Factbook

• A comprehensive guide to India’s startup ecosystem achievements (2016-2024).
• Highlights regional contributions and the growth trajectory of startups.

Bharat Startup Challenge

• Features 75 challenges across diverse sectors like renewable energy, blockchain, agritech, and semiconductors.
• Offers procurement opportunities, cash prizes, mentorship, and networking.

Startup Ecosystem Growth

• India became the world’s 3rd largest startup ecosystem with 1,59,157 startups (as of January 2025) from 500 in 2016.
• 76 IPOs were launched in 2024.
• Startups have generated 17.2 lakh direct jobs.

Private Equity (PE) and Venture Capital (VC)

• Partnerships with PE/VC firms brought global expertise and networks.
• Accelerated the journey of startups from ideation to execution.

Focus on Women Entrepreneurs

• 43% of India’s STEM graduates are women.
• Women Entrepreneurship Platform provides resources and opportunities for women-led startups.

Upcoming Events

• The second edition of Startup Mahakumbh will begin in April, featuring 2,500 startups.
• Promises to showcase India’s vibrant entrepreneurial spirit to the world.

Broader Contributions of Startups

• Beyond economic growth, startups are addressing critical issues in sustainability, renewable energy, healthcare, and digital transformation.

Future Vision

• India entering the Amrit Kaal (next 25 years of development) with strong macroeconomic fundamentals.
• Startups envisioned as key drivers for a self-reliant, inclusive, and globally competitive India.

Summary/Static	Details
Why in the news?	Piyush Goyal Launches PRABHAAV Factbook and Startup Challenge
Key Launches	PRABHAAV Factbook, Bharat Startup Challenge
Startup Ecosystem Growth	3rd largest globally, 1,59,157 startups, 76 IPOs in 2024, ₹13 trillion funding
Private Capital	FFS(Fund of Funds for Startups) mobilized private funding; PE/VC partnerships brought global expertise
Women in Startups	43% STEM graduates are women; Women Entrepreneurship Platform for women-led startups
Startup Mahakumbh	2nd edition in April 2025 with 2,500 startups participating
Broader Impact	Startups tackling sustainability, healthcare, and digital transformation
Future Vision	Amrit Kaal focus on self-reliant, globally competitive India
Key Participants	Piyush Goyal, Jitin Prasada, SIDBI CMD, and leaders from DPIIT, Accel, Info Edge, ASSOCHAM