Taking forward the Indian Startup Ecosystem, State Startup Ranking boost up the domain..!

With a wide expectations to take forward the Startup ecosystem in the country and give impetus to the vision of India becoming a Startup Nation, the Department for Promotion of Industry and Internal Trade (DPIIT) today has released the second edition of Startup Ranking for the year underway.

This is after the successful first edition of States Startup Ranking in 2018, where 27 States and 3 Union Territories had participated encouraging the participants to identify, learn and replicate good practices from each other.

The launch of the ranking framework in 2018 galvanized the States and the UTs into action, thereby giving impetus to the Startup movement across the country. Till date, 25 States and UTs have launched their dedicated Startup policies to incentivize Startups in their jurisdiction.

“The Ranking Framework 2019 comprises of 7 pillars and 30 action points. The pillars will assess States and UTs efforts across institutional support, simplifying regulations, easing public procurement, incubation support, seed funding support, venture funding support and awareness and outreach related activities”, stated the report meanwhile.

The department has prepared the framework after several rounds of consultation with State and UT Governments. The framework has evolved distinctly as compared to last year with major emphasis on collecting feedback from Startups and other important stakeholders from the Startup ecosystem, it added further.

DPIIT also proposes to recognise States and UTs for their exemplary performance in seven pillars of the ranking framework. As part of the Ranking 2019 exercise, DPIIT will recognize innovative Startup programs and initiatives from State and UT Governments.

COURTESY :- NEWS BHARATI