The States’ Startup Ranking Framework 2019 is based on seven broad reform areas consisting of 30 action points ranging from institutional support, easing compliances, relaxation in public procurement norms, incubation support, seed funding support, venture funding support, and awareness and outreach. Based on these categories, the states have been recognized as best performer, top performers, leaders, aspiring leaders.
As per the Department for Promotion of Industry and Internal Trade (DPIIT), the exercise is useful to develop innovation capacity of states and provide support in policy formulation and implementation. A total of 22 states and three UTs participated in the exercise.
The last 2018 edition ranked Gujarat as the best performer in developing the startup ecosystem for budding entrepreneurs. Other top performers were Karnataka, Kerala, Odisha and Rajasthan
“I am keen that industry, high net worth individuals, mutual funds and pension funds also participate in startups’ funding,” said commerce and industry Piyush Goyal while releasing the state rankings on Friday.
Goyal added that after states, there can be innovative ideas from start ups to look at challenges such as on the nutrition front at village and panchayat level.
Currently, 36,614 startups are recognized by the DPIIT and around 600 start up centric reforms were reported in one year by all states and UTs.
An Evaluation Committee comprising independent experts from the startup ecosystem, carried out a detailed assessment of responses across various parameters. As per the statement, many parameters involved getting feedback from beneficiaries which was gathered through more than 60,000 calls made in 11 different languages to ascertain the real pulse at the implementation levels.