PANAJI: The results of the 3rd edition of Ranking of States’ on ‘Support to Startup Ecosystems’ will be released by Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles on 4th July, 2022 in a felicitation ceremony in New Delhi.
The Department for Promotion of Industry and Internal Trade (DPIIT) conducted the 3rd edition of the States’ Startup 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 startups and strengthening the support to the startup ecosystem.
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 startup 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 startup policies, and 27 states/UTs have their own state start-up portal.
This edition had 7 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.
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 startup ecosystem amid a global pandemic.
The State Startup Ranking exercise results 2021 and call for mentors for the Mentorship, Advisory, Assistance, Resilience, and Growth (MAARG) Portal will be announced on Monday, 4th July 2022 at 11:30 A.M. at The Ashok Hotel, New Delhi with senior government officials attending from all participating States and UTs.