Top Ecosystem Rankings for Startups in Gujarat, Karnataka and Meghalaya
BENGALURU: Gujarat, Karnataka and Meghalaya were the ‘best performers’ in developing startup ecosystems for entrepreneurs last year, according to the latest ranking of countries and union territories by the Center’s Department of Industry Promotion and Internal Trade (DPIIT). Kerala, Maharashtra, Odisha, Telangana and Jammu and Kashmir were in the next category of ‘best performers’.
In the previous report for 2019, Gujarat, Andaman and Nicobar Islands were in the ‘Best Performer’ category, Karnataka and Kerala were in the ‘Best Performer’ category.
There are three other categories: Leaders, Aspiring Leaders, and Startup Startup Systems. Tamil Nadu, UP, and Punjab are among the eight states and UTs in the leaders category. Tamil Nadu and UP were in the emerging emerging ecosystem category in the 2019 study.
Rajasthan, Delhi and Madhya Pradesh are among the 11 states and UTs in the category of aspiring leaders. Among the major states, Andhra Pradesh and Bihar fall into the emerging ecosystem category.
The study looks at areas such as institutional support for start-ups, market access, incubation support and funding support. This year, three areas were added to the framework, including capacity building for enablers, mentorship support and fostering innovation and entrepreneurship. India has the third largest startup ecosystem in the world, after the United States and China. Minister of Trade and Industry Beyush JoyalWhile releasing the latest report, he said that India should aspire to be No. 1.
He said the government has made 52 regulatory changes to support the ease of doing business for start-ups and facilitate their growth. Indian startups raised $42 billion in funding during calendar year 2021, exceeding funding raised in any other calendar year previously. And that momentum forward continued into 2022, with startups raising more than $11 billion in the first quarter of 2022 itself.”
State-specific reports for each of the 31 participating entities include a comprehensive analysis of the respective ecosystem and an overview of strengths and priority areas for the future.
Political interventions were high on the government’s agenda. For example, the Ministry of Electronics and Information Technology has formulated the National Policy for Software Products for the all-round growth of the IT industry. The policy aims to provide a vegetative ground for software startups, encourage research, development and innovation, and improve domestic demand to develop India as a software producer. Through this policy intervention, the software products industry is estimated to grow at a compound annual growth rate of 40% to reach Rs 500,000 to 6,00,000 crore by 2025 and provide direct and indirect employment to 3.5 million people by 2025.
Karnataka’s Minister of Higher Education, Information Technology, BT, Science and Technology Ashwathnarayan CN tweeted, “Great news! Nama Karnataka Startups are leading the way. We have now been declared one of the top performing companies for the startup ecosystem in the DPIITGoI States’ Startup Ranking – 2021.”
Karnataka was ranked as a top performer for launching engineering research and development policy to attract sector-focused incentives, and setting up regulatory sandboxes for startups to take advantage of exemption from state and municipal laws.
In the previous report for 2019, Gujarat, Andaman and Nicobar Islands were in the ‘Best Performer’ category, Karnataka and Kerala were in the ‘Best Performer’ category.
There are three other categories: Leaders, Aspiring Leaders, and Startup Startup Systems. Tamil Nadu, UP, and Punjab are among the eight states and UTs in the leaders category. Tamil Nadu and UP were in the emerging emerging ecosystem category in the 2019 study.
Rajasthan, Delhi and Madhya Pradesh are among the 11 states and UTs in the category of aspiring leaders. Among the major states, Andhra Pradesh and Bihar fall into the emerging ecosystem category.
The study looks at areas such as institutional support for start-ups, market access, incubation support and funding support. This year, three areas were added to the framework, including capacity building for enablers, mentorship support and fostering innovation and entrepreneurship. India has the third largest startup ecosystem in the world, after the United States and China. Minister of Trade and Industry Beyush JoyalWhile releasing the latest report, he said that India should aspire to be No. 1.
He said the government has made 52 regulatory changes to support the ease of doing business for start-ups and facilitate their growth. Indian startups raised $42 billion in funding during calendar year 2021, exceeding funding raised in any other calendar year previously. And that momentum forward continued into 2022, with startups raising more than $11 billion in the first quarter of 2022 itself.”
State-specific reports for each of the 31 participating entities include a comprehensive analysis of the respective ecosystem and an overview of strengths and priority areas for the future.
Political interventions were high on the government’s agenda. For example, the Ministry of Electronics and Information Technology has formulated the National Policy for Software Products for the all-round growth of the IT industry. The policy aims to provide a vegetative ground for software startups, encourage research, development and innovation, and improve domestic demand to develop India as a software producer. Through this policy intervention, the software products industry is estimated to grow at a compound annual growth rate of 40% to reach Rs 500,000 to 6,00,000 crore by 2025 and provide direct and indirect employment to 3.5 million people by 2025.
Karnataka’s Minister of Higher Education, Information Technology, BT, Science and Technology Ashwathnarayan CN tweeted, “Great news! Nama Karnataka Startups are leading the way. We have now been declared one of the top performing companies for the startup ecosystem in the DPIITGoI States’ Startup Ranking – 2021.”
Karnataka was ranked as a top performer for launching engineering research and development policy to attract sector-focused incentives, and setting up regulatory sandboxes for startups to take advantage of exemption from state and municipal laws.
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