The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles Piyush Goyal to release the results of third edition of Ranking of States’ to support Start-up Ecosystems on July 4, 2022 in a felicitation ceremony, New Delhi.
The Department for Promotion of Industry and Internal Trade (DPIIT) conducted the third edition of the States’ Start-up Ranking Exercise with the key objective to promote India’s vision of competitive and cooperative federalism. The exercise was launched in 2018 to encourage states and union territories to work towards easing regulations for the growth of start-ups and strengthening the support to the start-up ecosystem.
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A total of 24 states and 7 union territories participated in the exercise this year, an increase from 25 last year and the highest till date. As India becomes one of the leading start-up nations globally, the growth of the entrepreneurship in Tier-II and Tier – III cities in the country has become necessary. There were 4 states and union territories with start-up policies in 2016. Today, there are over 30 states or union territories that have start-up policies, and 27 states or union territories that have their own state start-up portal.
This edition had 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.
Do watch – https://www.youtube.com/watch?v=hAbsk25QiNg
The third edition of the exercise evaluated the support provided by states and union territories over a period from October 1, 2019 to July 31, 2021. Their submissions were evaluated over a six-month period and feedback was gathered from more than 7,200 beneficiaries in 13 different languages. This edition is unique as it highlights the extensive support provided by states and union territories to the start-up ecosystem amid a global pandemic.