Outlook Business Desk
Health and life sciences startups were the second-largest job creators in India, following the IT services sector. Under the Startup India initiative, these startups collectively generated 16.7 lakh direct jobs across 55 industries as of October 31, 2024
Other sectors that contributed significantly to job creation included Professional and commercial services, Education, and Construction
Agriculture startups made a notable impact, contributing 83,307 direct jobs. This placed the agriculture sector among the top ten job providers in India’s startup ecosystem
Despite the growing buzz around augmented reality (AR) and virtual reality (VR) technologies, startups in this field generated only 5,848 direct jobs. Job creation in this sector was relatively low compared to other industries
Dating and matrimony startups were among the lowest job contributors, creating only 717 direct jobs. This indicates that the sector had a smaller impact on employment compared to other startup areas
The Startup India initiative, launched by the Union Government in January 2016, aims to foster innovation, encourage high-quality startups, and attract more investments to India's startup ecosystem. This initiative has been crucial in driving the growth of the startup sector and generating jobs across various industries
Indian startups have made a significant contribution to job creation, particularly in the health, IT, education, and agriculture sectors. While sectors like AR/VR and dating startups have not generated many jobs, the overall impact of the Startup India initiative on job growth remains substantial