/Next edition of states’ startup ecosystem ranking to be released on Sept 11

Next edition of states’ startup ecosystem ranking to be released on Sept 11

NEW DELHI: Ministry of Commerce and Industry will release the next edition of ranking of states and union territories (UTs) based on their startup ecosystem on September 11, an official said.

The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs. The ranking framework covers seven pillars and 30 action points, including policy support, incubation centres, seed funding, angel and venture funding and easier regulations.

“The ranking is ready. It will be released on September 11,” the official added.

The startup ranking framework aims to rank the states/UTs for establishing a robust ecosystem for supporting startups. The framework also encourages states and UTs to identify, learn and replicate good practices from each other.

In the last 2018 edition of the ranking, Gujarat emerged as the best performer in developing the startup ecosystem for budding entrepreneurs. Other top performers that followed the western state were Karnataka, Kerala, Odisha and Rajasthan.

The government had launched Startup India Action Plan in January 2016 to promote budding entrepreneurs in the country. The plan aims to give incentives such as tax holiday and inspector raj-free regime and capital gains tax exemption.

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Small Biz-Economic Times