Entrepreneurship And Innovation

Abstract

Entrepreneurship and innovation have emerged as critical drivers of economic development and
structural transformation in India's rapidly evolving economy. This study examines the current
state of entrepreneurship and innovation ecosystem in India, analyzing growth patterns,
challenges, and opportunities characterizing this dynamic landscape through comprehensive data
analysis spanning 2018-2023. The research objectives focused on assessing startup growth,
evaluating innovation performance, analyzing funding trends, and examining gender participation
in entrepreneurship. Employing descriptive research design utilizing secondary data from
government reports, Global Entrepreneurship Monitor, Global Innovation Index, and industry
databases, the study analyzed quantitative data through statistical methods. Key findings reveal
India achieved recognition of 100,000+ startups by 2023, retained 40th position in Global
Innovation Index 2023, and emerged as third-largest startup ecosystem globally with Total Earlystage
Entrepreneurial Activity at 12%. However, challenges persist including funding decline to
$11.3 billion in 2023 representing 60% reduction, gender disparity with only 20% women-owned
enterprises, and regional concentration. Government initiatives like Startup India, Atal Innovation
Mission, and Digital India have substantially contributed to ecosystem development. The study
concludes that sustained policy support, enhanced capital access, improved infrastructure, and
inclusive growth strategies are essential for realizing India's full entrepreneurial potential in
driving economic prosperity and global competitiveness.