Aims to rank the States/UTs for establishing a robust ecosystem for supporting Startups
After the successful first edition of States' Startup Ranking in 2018, where 27 States and 3 Union Territories participated, Department for Promotion of Industry and Internal Trade (DPIIT) has released second edition of Startup Ranking for 2019.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.
The Ranking Framework 2019 comprises of 7 pillars and 30 action points. The pillars will assess States'/UTs efforts across institutional support, simplifying regulations, easing public procurement, incubation support, seed funding support, venture funding support and awareness and outreach related activities. The ranking exercise aims to evaluate measures taken by States/UTs during the assessment period from 1 May 2018 to 30 June 2019.
DPIIT 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. The States/UTs are to submit their reforms on the State Startup Ranking dashboard hosted on www.startupindia.gov.in.
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/UT Governments.
The launch of the ranking framework in 2018 galvanized the States/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 Startup Ranking 2019 is expected to take forward the Startup ecosystem in the country and give impetus to the vision of India becoming a Startup Nation.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
