Results of 2nd edition of Ranking of States on Support to Startup Ecosystems released

Speed Post News Network

New Delhi : The Results of the second edition of Ranking of States on Support to Startup Ecosystems were released by Commerce & Industry and Railways Minister Piyush Goyal on September 11, 2020, through a virtual felicitation ceremony in the presence of Minister of State for Commerce & Industry & Minister of State (Independent Charge) for Civil Aviation, Housing and Urban Affairs Hardeep Singh Puri and Minister of State for Commerce & Industry Som Parkash.

The Department for Promotion of Industry and Internal Trade (DPIIT) conducted the second edition of the States’ Startup Ranking Exercise to foster competitiveness and propel States and Union Territories to work proactively towards uplifting the startup ecosystem.

The States’ Startup Ranking Framework 2019 has 7 broad reform area, consisting of 30 action points ranging from Institutional Support, Easing Compliances, Relaxation in Public Procurement norms, Incubation support, Seed Funding Support, Venture Funding Support, and Awareness & Outreach.

A total of 22 States and 3 Union Territories participated in the exercise. For the purposes of Ranking, States are classified into 5 Categories: Best Performers, Top Performers, Leaders, Aspiring Leaders, and Emerging Startup Ecosystems. While UTs except Delhi and all States in North East India except Assam are placed in Category ‘Y’. All other States and UT of Delhi are in Category ‘X’.

The felicitation ceremony was accompanied by the release of a National Report which highlights the vision, trajectory, methodology and the future roadmap of the States Ranking Exercise. A State Specific Report for each of the 25 participating entities has also been released containing a comprehensive analysis of respective ecosystem, which highlights strengths and priority areas for future.

A ‘Compendium of Good Practices’ adopted by various States in supporting startups has also been released. It identifies 166 good practices, which may be directly used by States to identify and implement newer initiatives. The National Report and Specific Reports for all participating States and Union Territories launched during the session can be downloaded from the Startup India Portal.

Speaking on the occasion, Piyush Goyal said that Startups have Out-of-the-box thinking, and are solution oriented, who look at new ideas. He said that the Prime Minister has been fully appreciative and supportive of promoting entrepreneurs who are important from the point of job creation, expanding economic activity, and for the prosperity of people.

The Minister said that centre and states, coming together in the spirit of cooperation, collaboration and competition to promote startups, is really an important development. Describing the startups as the store-house of talent, knowledge and ideas, Goyal said that the ranking will not help the states and UTs, but also the entrepreneurs, and will help in expansion of the startups and launching of new ventures. He also highlighted the fact that women entrepreneurs are actively into the startups, and this breaking of stereo-typing is an encouraging sign, according to a PIB release.

Goyal expressed happiness on the fact that like the centre’s fund of funds for startups, states are also working on the similar lines. He called upon the High networth individuals, venture capitalists and other funds to also come forward for financing the startup ventures. The Minister recommended that startups should come up with imaginative, relevant and innovative products, undertake re-engineering and reform of processes, and orient their ideas to be people-centric.

He said that Covid pandemic should not be seen as a problem or challenge but as an opportunity to reimagine and reinvigorate India. During COVID period, our Startups have come up with brilliant ideas & solutions to the many problems that the country and  the world face, he added.

States Startup Ranking Results 2019

Category X