Startups incubated by the Department of Science and Technology (DST) generated 65,864 jobs in India and created wealth of Rs 27,262 crore (US$3.71 billion) from 2014 to 2019, according to a DST report published this week.
The report also indicates a fivefold increase in investments raised to support startups as funding from angels, venture capitals, and other stakeholders.
The approach of the National Science and Technology Entrepreneurship Development Board (NSTEDB), a DST institute, has been to leverage the technological strength of higher learning institutes to benefit startups through a network of academic incubators that it seeds and supports. That led to an effective incubation support system and the success of fledgeling startups, the DST said.
The program nurtured 3,681 startups under incubation through the network of 153 incubators created by DST, generated 1,992 intellectual property rights), and created cumulative direct employment of 65,864 over the last five years.
From Express Computer
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