Hyderabad: Two startups from Telangana, Skyroot Aerospace and Autocracy Machinery, both of which are based in the city, are among the 1.54 lakh startups recognised across the country under the Startup India Initiative (SII).
According to a report published on Wednesday, the initiative, launched on January 16, 2016, has propelled entrepreneurship across India, creating 17 lakh direct jobs and promoting innovation nationwide.
Skyroot Aerospace has emerged as a leader in private space technology. Its VIKRAM rocket series has enhanced the country’s position in the global space sector, showcasing the potential of private enterprises in space exploration.
Autocracy Machinery focuses on creating specialised equipment for agriculture and construction. By addressing industry-specific challenges, the startup plays a significant role in modernising traditional sectors.
Startup India Initiative has recognised over 1.54 lakh startups since its launch in 2016. These startups have generated 17 lakh direct jobs, with women leading 48 per cent of them—marking a significant step toward gender equity in entrepreneurship.
The government support has been attributed as the key to this growth. Schemes like the Startup India Seed Fund Scheme have allocated ₹902 crore to incubators and ₹463 crore directly to startups, enabling them to expand operations. The Fund of Funds for Startups has facilitated ₹21,221 crore in investments, especially helping sectors like IT services, healthcare and education.
Telangana too has benefited significantly from these initiatives. Platforms like BHASKAR for investor-startup collaboration and events like the Startup Maha Kumbh 2024, which attracted 48,000 attendees and 1,300 exhibitors, have strengthened the startup ecosystem.
The country’s unicorns have grown from 11 in 2016 to 118 in 2024, showcasing the potential of startups to scale, the report said.
While Skyroot Aerospace contributes to cutting-edge technology, Autocracy Machinery focuses on real-world industry needs.
The report added that the national mentorship platform has provided 16,000 mentorship hours, while the credit guarantee scheme has supported ₹555 crore in loans to 235 startups, including ₹24 crore for women-led businesses.
