New Delhi: Prime Minister Narendra Modi on Thursday said India's youth are focused on solving real problems and asserted that the Startup India initiative has transformed into a nationwide movement over the past decade, making the country the world's third-largest startup ecosystem.

Addressing a programme marking 10 years of Startup India at Bharat Mandapam here on National Startup Day, Modi said the initiative was not merely a government scheme but a journey of millions of dreams. “In just 10 years, Startup India has become a revolution,” he said, noting that the number of startups has grown from fewer than 500 in 2016 to over two lakh today.

He said India had only four unicorns in 2014, compared to nearly 125 now, adding that startups are increasingly creating jobs, launching IPOs and driving innovation. Modi said nearly 44,000 startups were registered in 2025 alone, the highest in a single year.

The Prime Minister said risk-taking, once discouraged, has now become mainstream, with entrepreneurship gaining social acceptance beyond traditional business families. He highlighted the growing participation of women, noting that over 45 per cent of recognised startups have at least one woman director.

Modi said the government has built a supportive ecosystem through reforms such as easing compliances, decriminalising over 180 legal provisions under the Jan Vishwas Act, and expanding access to funding through schemes including the Fund of Funds for Startups and the Startup India Seed Fund.

Describing Startup India as a “rainbow vision” connecting diverse sectors, he cited opportunities in defence production, space, drones and public procurement. He urged startups to focus more on manufacturing and develop world-class products, while stressing the role of startups in emerging areas such as artificial intelligence, semiconductors and green technologies.

Union Minister Piyush Goyal was among those present at the event.