Mumbai hub of startups, receives most funding: Maha Dy CM

Mumbai, May 21 (IANS) Maharashtra Deputy Chief Minister Eknath Shinde on Wednesday said that Maharashtra is the first state to formulate a fintech policy to provide financial support to startups and industries, asserting that Mumbai has become the hub of startups that receive the most funding in the country.

He added that 24 per cent of the total startups in the country are in Maharashtra.

“Maharashtra is number one in the country in terms of startups, and according to the Economic Survey 2025, there are 26,686 startups in Maharashtra, which is 24 per cent of the total startups in the country,” said Deputy Chief Minister while addressing the Startup Conclave 2025, jointly organised by CSIR and three major scientific institutions.

He pointed out that Mumbai is becoming the most suitable place for startups due to the availability of investors and venture capital funds.

“The state has created 'Maharashtra Startup Week', 'Mumbai Fintech Hub' and 'Punyashlok Ahilyadevi Holkar Women Startup Scheme'. Due to this, Mumbai has become a hub of financial and technological innovation,” he claimed.

The Deputy Chief Minister added that Fintech, e-commerce, healthtech, edtech and deep tech startups are developing rapidly, and Maharashtra has the highest number of unicorn companies in the country (about 27).

Eknath Shinde further claimed that Mumbai is the country’s most funded startup hub, adding that this year, startups received a total of $ 3.7 billion in funding, which is 154 per cent more than last year.

“Pune is at the top in the fields of information and technology, the automotive industry and biotechnology. Now the construction of the country's most modern 'Innovation City' is underway on 300 acres in Navi Mumbai, where here startups in the fields of science, technology, biotechnology, data science and advanced manufacturing will develop,” he said.

He said that there are currently more than 1.5 lakh startups operating in India, and in the future, India can become the best startup hub in the world.

--IANS

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