Current Affairs

DIPP Launches States’ Rankings on Start-ups Initiatives

The Minister of Commerce and industry Suresh Prabhu launched the 'States' Startup Ranking 2018' at an event organised at the Pravasi Bhartiya Kendra, New Delhi.
  • The event was attended by Hon’ble Minister of State for Commerce and Industry, Shri C. R. Chaudhary, delegates from 19 States across the country, many Venture Capitalists, angel investors and Start-ups.

Aim of the initiative

The States Startup Ranking framework, launched by the Department of Industrial Policy and Promotion, aims at ranking states for establishing a robust ecosystem for supporting start-ups. The framework will evaluate states on parameters such as start-up policy and implementation, incubation support, seed funding support, angel and venture funding support, simplified regulations, easing public procurement, awareness and outreach. The key objective of the Startup States Ranking framework is to encourage states to take proactive steps towards strengthening the enabling start-up ecosystems at the state level.

Highlights of the event

  • A compendium of good practices for strengthening Startup ecosystem was also released by Mr Suresh Prabhu in the event.
  • The handbook identifies 95 good practices implemented by Central and various State Governments.
  • Mr Prabhu in his speech mentioned that the ranking framework would promote healthy competition among the states and enable them to further learn, share and adopt best practices across the seven identified key parameters.
  • It would generate collaboration amongst all the stakeholders to turn the Hon'ble Prime Minister's vision to have start-ups in every district and every block a reality.
  • This initiative will foster learning and healthy entrepreneurship spirit in all the states and facilitate all policy makers in formulation of policies and scheme for overall development of start-up ecosystem in the country.
  • The DIPP start-up list includes Andhra Pradesh, Goa, Kerala, Rajasthan, Telangana, Karnataka, Odisha, Chhattisgarh, Gujarat, Bihar, Uttar Pradesh, Madhya Pradesh, West Bengal, Assam, Haryana, Punjab, Jharkhand, and Uttarakhand.
  • Of these, nine states, including Delhi, Haryana, UP, Gujarat, Maharashtra, Karnataka, Kerala, Tamil Nadu and Telangana, cover over 82 per cent of the total 6,875 DIPP-recognised start-ups.
DIPP Launches States’ Rankings on Start-ups Initiatives DIPP Launches States’ Rankings on Start-ups Initiatives Reviewed by Aman Bhatia on February 08, 2018 Rating: 5

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