06 July, 2022
8 Min Read
The third edition of Ranking of States on “Support to Startup Ecosystems” was released by the Ministry of Commerce and Industry.
Earlier, the Ministry of Commerce and Industry released an Ease of Doing Business Ranking, which is based on the Business Reforms Action Plan report 2020.
State startup ranking
The Start-up India initiative of the Government of India envisages building a robust Start-up ecosystem in the country for nurturing innovation and providing huge opportunities to budding entrepreneurs.
The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry has been formulating the States’ Start-up Ranking Exercise since 2018.
The assessment plays a crucial role in easing the business environment for start-ups in the country.
Classification - States / Union Territories are classified into 5 Categories:
How about the Rankings 2021?
The participants were evaluated across 7 broad Reform Areas which is consisting of 26 Action Points ranging from Institutional Support, Fostering Innovation and Entrepreneurship, Access to Market, Incubation support, Funding Support, and Mentorship Support to Capacity Building of Enablers.
About Startup India Program
Challenges associated with startup initiative
The government initiated a Stand-Up India scheme to encourage entrepreneurial ships by facilitating bank loans between 10 lakh and 1 crore to at least one schedule caste or schedule tribe and at least one woman per bank branch for setting up non -agriculture enterprise.
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