In a significant development for India’s burgeoning startup ecosystem, Gujarat, Kerala, Karnataka, and Tamil Nadu have emerged as the best-performing states in the 2022 startup ranking. The ranking, which is based on initiatives taken to foster the startup ecosystem and promote budding entrepreneurs, also categorised Maharashtra, Odisha, Punjab, Rajasthan, and Telangana as top performers.
The new ranking was unveiled by Union Commerce Minister Piyush Goyal on Tuesday. The Department for Promotion of Industry and Internal Trade (DPIIT), a department under the commerce ministry, ranked the states and union territories.
In a bid to further stimulate the sector’s sustainable growth, the minister is slated to meet senior representatives of about 40 unicorn startups, including Lenskart, Zerodha, CarDekho, EasyMyTrip, and Boat, on Wednesday. The meeting aims to understand risks and domestic capital mobilization plans, according to a senior official.
The DPIIT report revealed that a total of 33 states and UTs participated in the exercise, which ranked them under five categories — best performers, top performers, leaders, aspiring leaders, and emerging startup ecosystems.
While releasing the startup ranking report, Goyal emphasized that startups will play a crucial role in India’s journey towards becoming a developed nation during the Amrit Kaal. He urged people of all age groups to join the startup ecosystem and contribute towards research and innovation. “New-age skills, futuristic technology, artificial intelligence, and innovation will lay the roadmap for the future of India,” he stated.
The Startup India initiative, launched by Prime Minister Narendra Modi on January 16, 2016, aims to build a robust ecosystem for nurturing innovation, boosting startups, and encouraging investments in the country’s startup ecosystem. Currently, over 117,000 startups recognized by the government are eligible to seek certain tax incentives.
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