New Delhi: The results of the 3rd edition of ranking of States’ on support to start-up ecosystems will be announced on July 4th. Minister of Commerce and Industry Piyush Goyal is scheduled to release the states’ ranking as per performance of the start-ups at a function in New Delhi.
The Department for Promotion of Industry and Internal Trade (DPIIT) conducted 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.
A total of 24 States and seven UTs participated in the exercise this year, which is the highest so far. As India becomes one of the leading start-up nation globally, the growth of the entrepreneurship in tier-II and tier – III cities in the country has become necessary. There were 4 states/UTs with start-up policies in 2016. Today, there are over 30 states/UTs who have start-up policies, and 27 states/UTs have their own state start-up portal.
This edition of assessment had 7 broad reform areas consisting of 26 action points, which are essential in providing regulatory, policy and economic support to start-ups 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.
The third edition of the exercise evaluated the support provided by states and union territories over a period from 1st October 2019 to 31st July 2021. Their submissions were evaluated over a 6-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.