States' Start-up Ranking 2021 to be declared on July 4: Centre
The States’ Start-up Ranking 2021, will be declared on July 4, the Union Ministry of Commerce and Industry, announced in a press release on Friday (July 1). The third start-up ranking exercise, saw the participation of 24 states and seven Union territories, across seven reform areas and 26 action points.
The result which ranks states on the basis of support to start-up ecosystems, will be released by Piyush Goyal, Minister of Commerce and Industry; Textiles; and Consumer Affairs, Food and Public Distribution, on July 4, 2022, at 11:30 am at The Ashok Hotel, New Delhi. Senior government officials from all participating states and UTs, will also be present at the ceremony.
Participating states and UTs
A total of 24 states and seven UTs participated in the ranking exercise, a rise from 25 in the previous edition. The number of participants in 2021 is the highest till date.
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According to the ministry’s press release, there were four states/UTs with start-up policies in 2016. Today, there are over 30 states/UTs which have start-up policies, and 27 states/UTs have their own state start-up portal.
Key objectives behind the ranking
The exercise held by the Department for Promotion of Industry and Internal Trade (DPIIT), works towards promoting India’s vision of competitive and cooperative federalism, said the release.
Launched in 2018, the exercise encourages states and union territories to work towards easing regulations for the growth of start-ups and strengthening the support to the start-up ecosystem for growth of the entrepreneurship in Tier-II and Tier-III cities in the country.
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Third edition of the ranking
The third edition of the ranking exercise, was different from the earlier versions of the exercise. “This edition had seven 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,” stated the release by Ministry of Commerce and Industry.
The exercise evaluated the support provided by states and Union territories to enable their start-up ecosystem to flourish. The evaluation period started on October 1, 2019, and extended till July 31, 2021. The submissions were then evaluated for six months, during which, feedback was also gathered from more than 7,200 beneficiaries in 13 languages.
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The government press release, says the edition is unique as it highlights the extensive support provided by states and union territories to the start-up ecosystem amid a global pandemic.
