Which states provide the best ecosystem for start-ups? Check here
The exponential rise in start-up ecosystem in the country has given opportunities to many to transform their ideas into businesses. And states have played an important role in facilitating the same. Recently, the Department of Industrial Policy and Promotion (DIPP), under the Ministry of Commerce and Industry, released the maiden 'States Start-up Ranking 2018' and Gujarat has emerged as the winner.
Ranking done on basis of performance in six categories
DIPP began the ranking exercise in 2016, and announced the very first States' Start-up Ranking 2018 just recently. The ranking was done on the basis of performance in these categories- Best Performer, Top Performers, Leaders, Aspiring Leaders, Emerging States, and Beginners. Gujarat has topped the list of the States' Start-up 2018 Ranking, becoming the Best Performer in developing start-up ecosystem for budding entrepreneurs.
'Gujarat government's consistent efforts for supporting start-ups recognized'
State has all ingredients to create entrepreneurial ecosystem: NASSCOM executive
Domestic Council NASSCOM's Chairman, Jaimin Shah, said Gujarat has all ingredients to create an entrepreneurial ecosystem, be it government support, entrepreneurial spirit, market or internal funding. "We are increasingly seeing examples here in Gujarat where industries have started sharing their problem statement with start-up ecosystem and with this soon we'll see more and more real-time industry accepted start-up solutions in the market," he said.
Gujarat followed by Karnataka, Kerala, Odisha, and Rajasthan
After Gujarat, the other 'Top Performers' are Karnataka, Kerala, Odisha, and Rajasthan. Some states like Andhra Pradesh, Bihar, Chhattisgarh, Madhya Pradesh, and Telangana, have been identified as 'Leaders,' across various categories such as start-up policy, incubation hubs, seeding innovation, scaling innovation, communication champions, etc. And those which were ranked as 'Aspiring Leaders' include Haryana, Himachal Pradesh, Jharkhand, Uttar Pradesh, and West Bengal.
Delhi, Tamil Nadu and Goa are the 'Emerging start-up states'
In the category of 'Emerging start-up states', eight made to the list and some are pretty surprising, like Goa. Accompanying the coastal state are Assam, Delhi, J&K, Maharashtra, Punjab, Tamil Nadu, and Uttarakhand. Chandigarh, Manipur, Mizoram, Nagaland, Puducherry, Sikkim and Tripura were ranked 'Beginners'.
Ranking idea not to embarrass but to encourage states: DIPP
DIPP Secretary Ramesh Abhishek said, "This exercise will help all the states to improve the ecosystem for promoting start-ups." He added that states need to have special focus in some areas like providing online information, simplifying regulations, preference in public procurement and setting up venture funds. He said the ranking exercise wasn't done to "embarrass" anyone but to encourage states to promote budding entrepreneurs.
27 states, 3 Union Territories participated in ranking exercise
22 states have so far formulated their respective start-up policies. 27 states and three union territories participated in the exercise. The ranking framework covers seven areas of intervention and 38 action points, including policy support, incubation centers, seed funding, angel and venture-funding, and easier regulations.
