On the occasion of National Startup Day, Prime Minister Narendra Modi addressed a special programme marking ten years of the Startup India initiative at Bharat Mandapam in New Delhi. The event brought together startup founders, innovators, policymakers and stakeholders from across the country to celebrate a decade of India’s growing startup ecosystem. The Prime Minister described the day as very special, as it was dedicated to young innovators who represent the future of a new and developing India.

Speaking at the event, PM Modi said that it was inspiring to see startup founders and innovators gathered under one roof. He noted that shortly before his address, he had interacted with several participants working in areas such as agriculture, fintech, mobility, health and sustainability. He said their ideas impressed him, but what stood out even more was their confidence and ambition. The Prime Minister underlined that the most important aspect of India’s startup movement is the focus of young people on solving real and practical problems faced by society. He praised the courage of young innovators who dared to dream differently and work towards new solutions.

Recalling the launch of Startup India ten years ago, the Prime Minister expressed satisfaction with the journey so far. He said that the initiative has grown beyond being just a government programme. According to him, “the journey of Startup India is not merely the success story of a government scheme but the journey of millions of dreams and the realisation of countless imaginations.” He remembered that a decade ago, the environment for innovation in the country was limited, with very little scope for individual efforts. Those circumstances, he said, were challenged through Startup India, which gave young people the freedom to think, create and build.

Highlighting the scale of growth achieved over the past ten years, PM Modi said, “In just 10 years, the Startup India Mission has become a revolution. Today, India is the world’s third-largest startup ecosystem.” He pointed out that ten years ago, India had fewer than 500 startups, whereas today the number has crossed 2 lakh. He also noted that in 2014, India had only four unicorns, while today there are nearly 125 active unicorns. According to the Prime Minister, this transformation has drawn global attention, with the world watching India’s startup success story with amazement.

The Prime Minister expressed confidence that many young innovators present at the event would themselves become examples and case studies in the future when India’s startup journey is discussed. He said that the momentum of Startup India is continuously increasing, with startups turning into unicorns, launching IPOs and creating more employment opportunities. He mentioned that in the year 2025 alone, nearly 44,000 new startups were registered, marking the highest number of registrations in any single year since the launch of Startup India. These numbers, he said, clearly show how startups are contributing to employment generation, innovation and economic growth.

PM Modi said that Startup India has helped create a new culture in the country. He explained that earlier, starting a business was mostly limited to children of large industrial families, as they had easier access to funding and support. For many middle-class and poor families, the idea of entrepreneurship remained only a dream, while stable jobs were seen as the only option. According to him, Startup India changed this mindset. Today, young people from Tier-2 and Tier-3 cities, and even from villages, are starting their own ventures and working to solve local and grassroots problems. He said this spirit of working for society and the nation holds great value for him.

The Prime Minister also highlighted the role of women in India’s startup journey. He said that the daughters of the country have played a major role in this transformation. More than 45 per cent of recognised startups in India have at least one woman director or partner. He further pointed out that India has become the world’s second-largest ecosystem in terms of women-led startup funding. According to him, this inclusive growth is strengthening the country’s overall potential.

Speaking about why startups matter so much for India, PM Modi said there are many reasons. India is the world’s youngest country, one of the fastest-growing major economies, and is building world-class infrastructure. New sectors are also emerging rapidly. While all these factors are important, he said what touches his heart the most is the startup spirit among India’s youth. He observed that young people today do not want to stay in their comfort zones or follow fixed and traditional paths. Instead, they want to create new paths for themselves and achieve new milestones.

The Prime Minister recalled a traditional saying that tasks are accomplished through enterprise, not merely by wishes. He said that courage is the first condition for enterprise and acknowledged the risks taken by young entrepreneurs. He noted that earlier, risk-taking was discouraged in the country. Today, however, it has become mainstream. He said that those who think beyond monthly salaries are now accepted and respected, and ideas that were once considered fringe have become fashionable. As he put it, “Today, risk-taking has become mainstream.”

Sharing his own experience, PM Modi said that risk-taking has always been an important part of his approach. He stated that tasks which were avoided by governments for decades due to fear of losing elections or power were responsibilities he chose to take up. He said that like innovators, he also believes that if something is necessary for the nation, someone must take the risk. He added that while any loss might be his, the benefits would reach millions of families.

The Prime Minister spoke about the steps taken over the past ten years to build a strong innovation ecosystem. He mentioned that Atal Tinkering Labs were set up in schools to encourage innovation among children. Hackathons were launched to motivate youth to find solutions to national problems, and incubation centres were created to ensure that good ideas do not fail due to a lack of resources.

He recalled that earlier, innovation in India was held back by complex compliance requirements, long approval processes and the fear of inspector raj. To address this, the government focused on building trust and transparency. He pointed out that under the Jan Vishwas Act, more than 180 provisions were decriminalised. This, he said, saved valuable time for innovators, allowing them to focus on their work instead of legal issues. He added that startups now benefit from self-certification under many laws, and that processes related to mergers and exits have been simplified.

Highlighting the broad vision of the initiative, PM Modi said, “Startup India is not just a scheme, it is a rainbow vision connecting diverse sectors with new opportunities.” He explained that in areas such as defence manufacturing, startups earlier could not even imagine competing with established players. Through initiatives like iDEX, new procurement pathways have been opened in strategic sectors. He also spoke about the space sector, which was once closed to private participation. Today, nearly 200 startups are working in this field and gaining recognition at the global level.

The Prime Minister also referred to the drone sector, where outdated rules had long restricted growth. With reforms and trust in innovators, the situation has changed significantly. He highlighted the role of the Government e-Marketplace (GeM) in public procurement, stating that nearly 35,000 startups and small businesses are now onboarded on the platform. These enterprises have received around five lakh orders worth approximately ₹50,000 crore. According to him, the success of startups is opening new growth opportunities across sectors.

PM Modi emphasised that access to capital is essential for turning ideas into products. He said that the government has focused on ensuring financial support for innovators. Through the Fund of Funds for Startups, investments of more than ₹25,000 crore have been made. Other schemes such as the Startup India Seed Fund, IN-SPACe Seed Fund and the NIDHI Seed Support Programme are also providing crucial seed funding. He added that a Credit Guarantee Scheme has been introduced so that lack of collateral does not become a barrier to creativity.

The Prime Minister stressed the importance of research and intellectual property. He said that today’s research becomes tomorrow’s intellectual property, and to promote this, a ₹1 lakh crore Research, Development and Innovation Scheme has been launched. He also mentioned the creation of a deep tech fund of funds to support long-term investments in sunrise sectors.

Talking about the future, PM Modi said that India must prepare for emerging domains that are important for economic security and strategic autonomy. He cited artificial intelligence as a key example. He said that countries leading the AI revolution will have a major advantage, and for India, this responsibility lies with its startups. He mentioned that India will host the AI Impact Summit in February 2026, calling it a major opportunity for young innovators.

Acknowledging challenges such as high computing costs, the Prime Minister said that solutions are being provided through the India AI Mission. He noted that more than 38,000 GPUs have been onboarded to make advanced technology accessible to small startups. He emphasised that these efforts aim to ensure that indigenous AI is developed by Indian talent on Indian servers. Similar initiatives, he added, are underway in sectors such as semiconductors, data centres and green hydrogen.

The Prime Minister urged startups to aim beyond participation and work towards global leadership. He said that while India has made significant achievements in digital startups and service sectors, “now is the time for our startups to focus more on manufacturing.” He called for the development of world-class products with unique technological ideas that can lead the future. He assured startups that the government stands firmly with them in every effort.

Concluding his address, PM Modi expressed strong faith in the courage, confidence and innovation of India’s startups. He said these qualities are shaping the country’s future. Reflecting on the past decade, he remarked that India’s capabilities have been proven, and the goal for the next ten years should be for the country to lead the world in new startup trends and technologies.

Union Minister Piyush Goyal and other dignitaries were also present at the event.