Announcement of state startup ranking list 2020.

Announcement of state startup ranking list 2020.

The Startup India Initiative of the Government of India and envisages to build a robust Startup Ecosystem in the country for nurturing innovation and providing opportunities to budding entrepreneurs. The department of Industrial Policy and Promotion(DIPP), Government of India, has undertaken an exercise to assess States or United territories on key areas of interventions that are germane to a healthy startup ecosystem.
Indian government has announced the second edition of its state startup ranking in which 22 states and 3 union territories participated in the exercise and Gujarat is declared to be the best performer ranking while Karnataka and Kerala got the top performers’ titles. The Modi government has started the startup rankings to encourage States to have an entrepreneurially conductive environment.
Minister of commerce and industry, Piyush Goyal shared three recommendations for startups:
*Product- startups should focus on how we can re-imagine new products, how products can be used, what is relevant in today’s day and age.
*Processes- startups should look at how we can constantly redesign and reengineer the processes of doing the same thing.
*People- ultimately we need people centric ideas, the consumer at the centre point of all new ideas of the startup ecosystem.
Department for Promotion of Industry and Internal Trade (DPIIT) had done the startup rankings and the states were awarded points according to the performances across seven categories which included institutional support, easing compliances, relaxation in public procurement norms, incubation support, seed funding support, venture funding support and awareness and outreach.
According to the reports provided by the NASSCOM ZINNOV, Indian Tech Startup Ecosystem, India will see 100 unicorns by 2025 and will create over 1.1 million direct jobs.