21 May,2025 08:37 PM IST | Mumbai | mid-day online correspondent
The state’s robust infrastructure and conducive policies have made it the country’s number one destination for startups, said Eknath Shinde. PIC/X
Maharashtra Deputy Chief Minister Eknath Shinde said that the state has continued to solidify its position as a national leader in the startup ecosystem and is home to the highest number of startups receiving funding in India.
Speaking at the Startup Conclave 2025 in the Nesco Centre at Goregaon, Mumbai, Shinde said that Maharashtra has emerged as the hub for innovation, financial support, and technological advancements.
The conclave was organised in collaboration with the Council of Scientific and Industrial Research (CSIR) and three major scientific institutions.
During his speech, the Deputy CM highlighted that Maharashtra now houses 24 per cent of the country's total startups, with a staggering 26,686 startups registered within the state, according to the 2025 Economic Survey. He attributed this growth to a "favourable" ecosystem for investors and venture capital funds, which makes Mumbai an ideal location for startup growth.
"The state's robust infrastructure and conducive policies have made it the country's number one destination for startups. Mumbai, with its status as a financial capital, has become the highest recipient of startup funding in India. Startups in the city have raised a remarkable $3.7 billion in 2025, marking a 154 per cent increase from the previous year," he said.
Elaborating on Maharashtra's achievements, the deputy CM also claimed that Mumbai is the top destination for financial capital, not just in India but globally. "The city has emerged as a prime hub for fintech, e-commerce, HealthTech, EdTech, and DeepTech startups. The state's initiatives, such as 'Maharashtra Startup Week', 'Mumbai Fintech Hub', and the 'Punyashlok Ahilyadevi Holkar Women Startup Scheme' have contributed immensely to this transformation," he said.
Speaking about the state's evolving landscape, Shinde said that Pune leads in Information Technology, automotive industries, and biotechnology. Furthermore, Navi Mumbai is set to become a significant innovation hub, with the development of a state-of-the-art âInnovation City' on 300 acres, he highlighted. "This modern facility will focus on fostering startups in areas like science, technology, biotechnology, data science, and advanced manufacturing," said Shinde.
Maharashtra is home to 27 unicorns - companies valued at over $1 billion - which further cements its position as the heart of India's startup revolution. These successes are part of a broader national trend, with India now hosting over 1.5 lakh startups, pointed out Shinde.
He also stated that India is on the path to becoming one of the world's leading startup ecosystems. "With the government's continuous efforts and the increasing support for innovation, India is well-positioned to become the global startup hub of the future," he said.
In his address, the deputy CM expressed his gratitude to the CSIR-National Chemical Laboratory, CSIR-National Institute of Oceanography, and CSIR-National Institute of Science and Technology for organising the conclave. He also appealed to the scientific community to ensure that the benefits of technology and research reach the most marginalised sectors of society.
Before concluding his speech, Shinde paid tribute to eminent Indian astrophysicist Dr Jayant Narlikar, who passed away in Pune on Tuesday, at the age of 86.
