Maharashtra is India’s startup capital in terms of both number of startups and implementation
Mumbai, September 2026 : Maharashtra, which is leading the country in finance, industry, entrepreneurship and technology, has now emerged as India’s startup capital in terms of both the number of startups and their implementation. The strength of the state’s startup ecosystem, combined with the research and innovation capabilities of its youth, will certainly help Maharashtra become a global innovation hub in the future, Chief Minister Devendra Fadnavis said.
Fadnavis was speaking at the award ceremony for the winners of the fourth edition of ‘The Governance Challenge’, organised in collaboration with the Gates Foundation and Samagra at the Jamshed Bhabha Theatre of the National Centre for the Performing Arts (NCPA). Chief Secretary Rajesh Aggarwal and MITRA Governing Council member Deepak Karanjikar were present on the occasion. Samagra CEO Gaurav Goyal briefed the gathering about the competition, following which six shortlisted teams presented their ideas.
The theme of this year’s competition was innovation aimed at developing Maharashtra as a research-driven state by 2035.
Youth to play key role in shaping Maharashtra’s future
Chief Minister Fadnavis said the initiative was not merely a competition but an effort to identify talent and ideas capable of shaping the future administrative framework of Maharashtra and the country.
The government aims to bring the perspective of the new generation into areas such as artificial intelligence, data analytics, digital governance, urbanisation, agriculture, healthcare, education, climate change and innovation ecosystems.
“Youth will play an important role in building a developed India and a developed Maharashtra by 2047,” Fadnavis said.
Opportunities for young researchers across Maharashtra
Young researchers from every part of the state, including Nagpur, Nashik, Kolhapur, Nanded and Amravati, should have access to mentors, technology, incubation facilities and markets, the Chief Minister said.
He said Maharashtra was building a complete innovation chain — from ideas emerging in classrooms to global companies, and from conceptualisation to actual implementation and international expansion.
The success of a hackathon should not be measured merely by the distribution of certificates, but by whether the ideas generated through it are actually implemented, Fadnavis said.
Maharashtra emerges as India’s startup capital
Fadnavis said Maharashtra accounts for 18 per cent of the country’s total startups. With more than 30,000 startups, the state has the highest number in the country.
He said startups, industries and educational institutions must work together to research, test and implement new ideas.
The state is developing ‘M-Hub’ as its first dedicated startup incubator. An ‘Innovation City’ focused on artificial intelligence and advanced technologies will also be established across 300 acres in Navi Mumbai.
Under the Maharashtra Artificial Intelligence Policy 2026, two lakh youth and professionals will be trained. AI incubators will also be established to promote AI-based research. The Chief Minister expressed confidence that government data would provide a foundation for new research by young innovators.
Maharashtra offers a strong startup ecosystem
Maharashtra has 87 universities, around 5,500 colleges and more than 4.5 million students, all of whom have the potential to contribute to the state’s future, Fadnavis said.
He assured that the government would continue to encourage young people who come forward with innovative ideas.
Since 2015, seven batches of young professionals from different fields under the Chief Minister’s Fellowship programme have been given an opportunity to work directly with senior government officials.
Maharashtra has set a target of becoming a USD 1 trillion economy by 2030 and a USD 2 trillion economy by 2035. Innovation will be a key driving force in achieving these goals, Fadnavis said.
He added that the state’s objective was to develop advanced technologies and technological infrastructure in Maharashtra for the benefit of the world.
Government, industry and markets must work together for innovation: Chief Secretary
Chief Secretary Rajesh Aggarwal said the government, corporate sector and market must play complementary roles to address diverse requirements.
Innovations should be capable of becoming self-sustaining, he said.
The government is not only providing funding for the development of the innovation ecosystem but is also playing the role of a facilitator. At the same time, innovations that have demonstrated market potential should be allowed to develop without unnecessary government intervention, Aggarwal said.
MITRA member Deepak Karanjikar and Gates Foundation Deputy Director Arnav Kapoor also shared their views on the competition.
Additional Chief Secretaries, Principal Secretaries and Secretaries from various government departments, along with a large number of students, attended the programme.
Six teams present innovative ideas
Six teams reached the final round of The Governance Challenge and presented innovative ideas across different sectors.
Shubham Patil, Varun Damle and Sanhita Mhatre of IIM Mumbai presented an idea in healthcare.
Ayush Mehta and Nilesh of J.J. Mehta School of Business, Mumbai, presented an idea in agriculture.
Arisha Batala, Hrithik Jain and Taran Puri of the Indian School of Business presented an education-focused innovation.
Shrestha Bhat, Tarun Shekhawat and Apoorva Sharma of BITS School of Management presented an idea in finance.
Himanshu Patil, Mazhar Sheikh and Mohak Chandak of IIM Ranchi presented an innovation in governance.
Ankita Shirke, Siddharth Rajpal and Gurupasad Shetty of Masters’ Union School of Business presented an idea focused on urban development.
Winners announced
The first prize of Rs 5 lakh was won by Ankita Shirke, Siddharth Rajpal and Gurupasad Shetty of Masters’ Union School of Business for their innovation in urban development.
The second prize of Rs 3 lakh went to Arisha Batala, Taran Puri and Hrithik Jain of the Indian School of Business for their presentation on education.
The third prize of Rs 1 lakh was awarded to Shubham Patil, Varun Damle and Sanhita Mhatre of IIM Mumbai for their innovation in healthcare.
