‘Startups in Bengal witness fourfold increase since 2019’

Kolkata: Bengal is home to 1,170 startups as of December 2023, marking a fourfold increase from 276 startups in 2019, according to a report by the department for Promotion of Industry and Internal Trade (DPIIT).

The state’s startup growth assumes importance with the country poised to celebrate the 4th National Startup Day on January 16 which was announced by Prime Minister Narendra Modi in 2022 to mark six years of the ‘Startup India’ initiative.

According to a Nabanna official, the surge can be attributed to an expanding skilled workforce and robust support from both the government and private investors, unlocking the state’s untapped potential. The Bengal government has actively fostered entrepreneurship through policy interventions, such as the ‘West Bengal Startup Policy’ which provides financial assistance, infrastructure support and mentorship programmes. Kolkata, in particular, has become a hotspot for tech startups, with a growing number of incubators and co-working spaces. The city’s dynamic ecosystem is attracting entrepreneurs from sectors like fintech, healthtech, edtech and e-commerce, with Kolkata’s IT sector witnessing over 70 per cent annual growth.

“Bengal is also witnessing a shift, with more startups emerging in agritech, cleantech and social enterprises. The startup ecosystem in Bengal is also expanding beyond Kolkata, with a growing focus on tier 2 and tier 3 cities. This decentralisation of entrepreneurship is helping spread the benefits of innovation across the region, creating new opportunities for growth,” said Sandeep Kumar, chairman, CII West Bengal State Council.

CII is working in collaboration with the state government for pushing start ups, thanks to its Centre of Excellence for Innovation,

Entrepreneurship and Startups.