On January 16, 2025, Maharashtra Chief Minister Devendra Fadnavis inaugurated the National Startup Day program at the Bandra-Kurla Complex in Mumbai, themed 'Empowering Innovation, Elevating Maharashtra'. During the event, Fadnavis announced the establishment of an 'Innovation City' in Maharashtra, modeled after Gujarat's GIFT City, with construction expected to commence within a year. He highlighted that Maharashtra leads the nation in women-led startups, boasting the highest number of female directors in the startup sector. The event saw participation from over 1,000 startups, with support from mentors and bankers. Additionally, the Maharashtra government is allocating ₹200 crore to foster innovation and entrepreneurship, further solidifying the state's position as a hub for startups. Fadnavis emphasized Maharashtra's pioneering startup policy and the creation of a fund specifically for the defense sector, aiming to enhance the state's startup ecosystem.