Gujarat tops states' Start-up Ranking-2018

Gujarat on Thursday bagged the best performer award in Start-up Ranking 2018 conducted by the Union Ministry of Commerce and Industry's Department of Industrial Policy and Promotion (DIPP).

The award was received by Mamta Verma, Industries Commissioner, Gujarat, from Ramesh Abhishek, Secretary, DIPP at a function held here.

DIPP conducted the study to assess States and Union Territories on key areas of interventions that are fundamental to a healthy start-up ecosystem.

The aim of the rankings is to help bring notice to the progress that various States have made for promoting Start-ups and at the same time foster a spirit of competition between the States.

 

"The government of Gujarat has taken proactive steps in key areas such as incubation support, seed funding support, simplified regulations, and easing public procurement," said an official statement.

"Gujarat also scored exceedingly well on the awareness and outreach parameters, an example of which is the Vibrant Gujarat Start-Up and Technology Summit organised earlier this year," added the statement.

According to the statement, the state government currently supports 196 start-ups and provided incentives in form of sustenance allowance, product development assistance, and marketing assistance. It has also recognised 34 nodal institutes for supporting start-ups.

"Apart from offering assistance, Gujarat government also gives preference to start-ups in public procurement. Gujarat is particularly recognised for seed funding support, policy formulation and implementation, incubation hubs, outreach events of national and international level, venture funding, public procurement etc," added the statement.

After receiving the award, Mamta Verma said: "It has been a learning experience for all the stakeholders. The reforms suggested by DIPP were very practical and constructive and have definitely added to the momentum for further evolution of the start-up ecosystem in Gujarat and the nation as a whole.