GG News Bureau
New Delhi, 1st July. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, will release the results of the third edition of the Ranking of States’ Support to Start-up Ecosystems on July 4, 2022, at a felicitation ceremony in New Delhi.
The third edition of the States’ Start-up Ranking Exercise was held by the Department for Promotion of Industry and Internal Trade (DPIIT), with the primary goal of promoting India’s vision of competitive and cooperative federalism.
The exercise was launched in 2018 to encourage states and union territories to work on easing regulations for start-up growth and strengthening support for the start-up ecosystem.
This year, a total of 24 states and 7 union territories took part in the exercise, an increase from 25 last year and the highest number to date.
As India becomes one of the world’s leading start-up nations, the expansion of entrepreneurship in Tier-II and Tier-III cities has become important. In 2016, there were four states/UTs with start-up policies. There are now over 30 states/UTs with start-up policies, and 27 of them have their own state start-up portal.
This edition included 7 broad Reform Areas with 26 action points that are critical in providing regulatory, policy, and economic support to startups and ecosystem stakeholders.
Institutional Support, Fostering Innovation and Entrepreneurship, Market Access, Incubation Support, Funding Support, Mentorship Support, and Enabler Capacity Building were among the reform areas.
The third edition of the exercise assessed the assistance provided by states and union territories from 1 October 2019 to 31 July 2021. Over a 6-month period, their submissions were evaluated, and feedback was gathered from over 7,200 beneficiaries in 13 different languages.
This edition is unique in that it highlights the extensive support provided to the start-up ecosystem by states and union territories in the midst of a global pandemic.
The results of the State Start-up Ranking Exercise 2021 and the call for mentors for the Mentorship, Advisory, Assistance, Resilience, and Growth (MAARG) Portal will be announced on Monday, July 4, 2022 at 11:30 a.m. at the Ashok Hotel in New Delhi, with senior government officials from all participating States and UTs in attendance.
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