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  Business   In Other News  20 Feb 2019  DPIIT begins work on ranking states/UTs on startup initiatives

DPIIT begins work on ranking states/UTs on startup initiatives

PTI
Published : Feb 20, 2019, 2:35 pm IST
Updated : Feb 20, 2019, 2:35 pm IST

The exercise aims to evaluate measures taken by states/UTs to boot startup ecosystem.

The pillars will assess efforts of states/UTs across institutional support, simplifying regulations, easing public procurement, incubation, seed funding, venture funding and awareness and outreach related activities. (Photo: PTI)
 The pillars will assess efforts of states/UTs across institutional support, simplifying regulations, easing public procurement, incubation, seed funding, venture funding and awareness and outreach related activities. (Photo: PTI)

New Delhi: The commerce and industry ministry on Wednesday said it has started the exercise for ranking states and union territories for 2019 based on initiatives taken for startups.

The exercise aims to evaluate measures taken by states/UTs to boot startup ecosystem during the period from May 1, 2018 to June 30, 2019, the ministry said.

 

"Ranking framework 2019 comprises seven pillars and 30 action points," it said in a statement.

The pillars will assess efforts of states/UTs across institutional support, simplifying regulations, easing public procurement, incubation, seed funding, venture funding and awareness and outreach related activities.

"The startup ranking framework aims to rank 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," it added.

The Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry, has prepared the framework after several rounds of consultations.

 

It said the framework has evolved distinctly as compared to last year with major emphasis on collecting feedback from startups and other important stakeholders.

"As part of the 2019 exercise, DPIIT will recognize innovative startup programmes and initiatives from state/UT governments," it said.

Till date, 25 states and UTs have launched their dedicated startup policies to incentivise budding entrepreneurs in their jurisdiction.

"The startup ranking 2019 is expected to take forward the ecosystem in the country and give impetus to the vision of India becoming a startup nation," it said.

In 2018, Gujarat emerged as the best performer in developing startup ecosystem for budding entrepreneurs.

 

Tags: commerce and inudtsry ministry, commerce ministry, suresh prabhu, dpiit
Location: India, Delhi, New Delhi