In order to boost the start-up ecosystem for aspiring entrepreneurs, the commerce and industry ministry will rank the states and UTs on Monday, according to an official statement released on Friday. The most recent start-up ranking of states were released in September 2020. Gujarat had kept the top spot at that time.
The third iteration of the rating of states’ support for startup ecosystems will be unveiled by Piyush Goyal, minister of commerce and industry.
According to the statement from the ministry, the exercise was carried out by the Department for Promotion of Industry and Internal Trade (DPIIT) with the aim of promoting India’s vision of cooperative and competitive federalism.
The initiative was started in 2018 to nudge states and union territories toward lowering barriers to startup growth and bolstering the ecosystem’s support.
Start-up Ranking : The number of States and UTs with Start-up policies expanded from 4 to 30 in the last six years
The statement said, “A total of 24 states and seven Union Territories participated in the exercise this year, up from 25 last year and the highest to date.”
The growth of entrepreneurship in India’s tier-II and tier-III cities has become essential as the country becomes one of the world’s leading hubs for startups, according to the ministry. It also noted that while there were only four states or UTs with startup policies in 2016 and there are now over 30 states and UTs with startup policies, 27 of them also have their own state startup portal.
The ministry will release the ranking of states and UTs on July 4.
This edition has seven broad reform areas consisting of 26 action points, which are essential in providing regulatory, policy and economic support to startups and stakeholders of the ecosystem.
The reform areas included institutional support, fostering innovation and entrepreneurship, access to market, incubation support, funding support, mentorship support and capacity building of enablers.
This edition has evaluated the support provided by states and Union Territories over a period from October 2019 to July 2021.
Highlights
- 24 States and 7 UTs participated in the 3rd Start-up ranking exercise with 7 reform areas and 26 action points
- Within last 6 years, States/UTs with Start-up policies increased from 4 to 30 with 29 of them having Start-up portals
- Feedback on Start-up ecosystem taken from 7200 beneficiaries in 13 languages
