How does DPIIT really help startups?

Learn how DPIIT (Department for Promotion of Industry and Internal Trade) helps startups in India with recognition, incentives, and resources. Explore the benefits of DPIIT registration and how it fosters a favourable environment for innovation and growth.

There’s no doubt that startups are the next big opportunity in India. Over a decade, India has been able to create the third-largest startup ecosystem in the world by size, according to Startup India. 

Naturally, the next question is how do you keep the momentum going? While funding is one piece of that puzzle, fostering that ecosystem with access and support can help complete that picture.

That’s where the Department for Promotion of Industries and Internal Trade (DPIIT) comes in. According to the Economic Survey, there are three key areas in which the government—or DPIIT—in specific, can help boost your business– filing patents, innovation, and fostering ecosystem culture.

Since being reconstituted in the year 2000, this arm of the government has also been equally involved in all matters related to supporting startups and its subsequent ecosystem.

Till October last year, there were nearly 1,12,718 DPIIT-recognised startups across 763 districts of the country. Yet, there are several others who still are unaware of how the process of getting recognised works or what benefits there are to actually signing up for the process.

The good news is that most startups are catching up to registering themselves with DPIIT now. There was an increase in 1.2 lakh new registrations under the DPIIT in March this year, according to the Economic Survey. These recognised startups are reported to have created over 12.42 lakh direct jobs creating significant economic impact, according to the survey. From this new base of startups, more than 45% of the recognised startups belong to cities from Tier-II and Tier-III India.

In fact, at WeWork Labs, we helped bolster these registration numbers along with DPIIT and Karnataka Digital Economic Mission (KDEM) recently with a startup registration drive at WeWork Galaxy, Bengaluru.

“I think as a founder this [registering for DPIIT] is something that is always at the back of your mind, it is something that you need to get done,” Aashika Abraham, the Founder of Mama Miya told WeWork Labs at a DPIIT drive at WeWork Galaxy. “Most of the time we are so caught up in doing our work that we forget to recognise the benefits that the government gives us.”

So how does the government help?

According to the Economic Survey, there are three key areas in which the government—or DPIIT—in specific, can help boost your business– filing patents, innovation, and fostering ecosystem culture.

In the realm of patents, the government notified the Patent (Amendment) Rules 2024 with the aim of easing the process of acquiring and getting patents. According to data from the government, the number of granted patents increased seventeen-fold from 5,978 in 2014-15 to 1,03,057 in 2023-24.

Perhaps the biggest area of support that the government offers is funding. Under Fund of Funds for Start-ups, more than ₹10,500 Crore has been committed to more than 135 Alternative Investment Funds, which invested more than ₹18,000 Crore in startups by the end of FY24.

Of course having a registration with DPIIT can have far-reaching benefits beyond just funding and ecosystem support.

For startups that operate in the emerging technologies space, having a DPIIT registration can help with recognition. “For me registering with DPIIT at least helps me add a face to the name for now and it helps me find sources where I can bring blockchain technology to the government,” said Rashmi V Abbigeri, founder of Sunflora, at the WeWork Labs registration drive.

If you’re a founder looking for greater access to DPIIT and perhaps registering your startup with this arm, check out the guidelines, process, and eligibility here.

Learn More About: WeWork Startup Ecosystem - WeWork Labs

That’s all from us for now. See you in the next WeWork Labs blog!