Gujarat, Karnataka best performing start-up ecosystems, funding grew 7x in eight years
Among category B, which are states and union territories with population of less than 1 crore, Meghalaya was the only state to find a place among best performer list, as per the Commerce Ministry's State Start-up Ranking of 2021.
- Jul 4, 2022,
- Updated Jul 4, 2022 5:05 PM IST
Gujarat and Karnataka are ranked as the best performing states in the State Start-up Ranking of 2021. Among smaller states, Meghalaya topped the list.
Between 2015-2022, the number of start-up investors grew nine times, total start-up funding increased seven times, and number of incubators saw 7x growth, the report said. India has 70,809 recognised start-ups with 648 districts with at least one recognized start-up. Start-ups employ about 7.5 lakh people in the country.
A total of Rs 85.47 crore work orders were provided to 299 start-ups by 15 states/union territories, and 31 states/union territories have a start-up policy in place. As per the report, 47 per cent of start-ups have at least one women director.
The awards were announced by Union Commerce, Industry and Textile Minister Piyush Goyal. Split into three categories such as best performers, top performers, leaders and aspiring leaders, the third edition of the awards saw participation of 31 States/Union Territories.
Gujarat and Karnataka have been raked as an institutional champion, capacity building pioneer, procurement forerunner, incubation hub and funding leader for its various start-up initiatives. Programs such as herSTART, a focused program to enable growth in the number of women entrepreneurs, and creating Gujarat State Biotechnology Technology Mission (GSBTM) fund for biotechnology start-ups, were part of Gujarat's new initiatives. Karnataka has been acknowledged for developing modernistic policies including Engineering Research and Development Policy to attract sector-focused incentives and Regulatory Sandboxes for start-ups to avail exemptions from state and municipal laws.
Among category B, which are states and union territories with population of less than 1 crore, Meghalaya was the only state to find a place among best performer list. The state was awarded for creating robust programs such as “From Idea to Execution” for capacity building for higher education institutes, supporting Women and grassroot entrepreneurs through the PRIME Kickstart Grant and Innovation Scaleup Loan, and providing comprehensive mentorship through PRIME Acceleration Coaching.
Kerala, Maharashtra, Odisha, and Telangana were ranked as Category A ‘top performers’ and Jammu and Kashmir was the only inclusion from Category B.
Uttarakhand, Assam, Tamil Nadu, Uttar Pradesh, and Punjab were ranked as ‘leaders’ while Goa, Arunachal Pradesh, and Andaman and Nicobar Islands have been included from smaller states. Rajasthan, Chhattisgarh, Himachal Pradesh, Madhya Pradesh, Delhi, Chandigarh, and Nagaland are among 11 states and union territories categorized as ‘aspiring leaders’.
Bihar, Andhra Pradesh, Mizoram and Ladakh make the list of emerging start-up ecosystems.
The states’ start-up ranking framework is spread across seven areas of intervention with a total of 26 action points. Capacity building of enablers, mentorship support, institutional support, funding support, fostering innovation and entrepreneurship, incubation support, and access to market are among the evaluation framework.
Gujarat and Karnataka are ranked as the best performing states in the State Start-up Ranking of 2021. Among smaller states, Meghalaya topped the list.
Between 2015-2022, the number of start-up investors grew nine times, total start-up funding increased seven times, and number of incubators saw 7x growth, the report said. India has 70,809 recognised start-ups with 648 districts with at least one recognized start-up. Start-ups employ about 7.5 lakh people in the country.
A total of Rs 85.47 crore work orders were provided to 299 start-ups by 15 states/union territories, and 31 states/union territories have a start-up policy in place. As per the report, 47 per cent of start-ups have at least one women director.
The awards were announced by Union Commerce, Industry and Textile Minister Piyush Goyal. Split into three categories such as best performers, top performers, leaders and aspiring leaders, the third edition of the awards saw participation of 31 States/Union Territories.
Gujarat and Karnataka have been raked as an institutional champion, capacity building pioneer, procurement forerunner, incubation hub and funding leader for its various start-up initiatives. Programs such as herSTART, a focused program to enable growth in the number of women entrepreneurs, and creating Gujarat State Biotechnology Technology Mission (GSBTM) fund for biotechnology start-ups, were part of Gujarat's new initiatives. Karnataka has been acknowledged for developing modernistic policies including Engineering Research and Development Policy to attract sector-focused incentives and Regulatory Sandboxes for start-ups to avail exemptions from state and municipal laws.
Among category B, which are states and union territories with population of less than 1 crore, Meghalaya was the only state to find a place among best performer list. The state was awarded for creating robust programs such as “From Idea to Execution” for capacity building for higher education institutes, supporting Women and grassroot entrepreneurs through the PRIME Kickstart Grant and Innovation Scaleup Loan, and providing comprehensive mentorship through PRIME Acceleration Coaching.
Kerala, Maharashtra, Odisha, and Telangana were ranked as Category A ‘top performers’ and Jammu and Kashmir was the only inclusion from Category B.
Uttarakhand, Assam, Tamil Nadu, Uttar Pradesh, and Punjab were ranked as ‘leaders’ while Goa, Arunachal Pradesh, and Andaman and Nicobar Islands have been included from smaller states. Rajasthan, Chhattisgarh, Himachal Pradesh, Madhya Pradesh, Delhi, Chandigarh, and Nagaland are among 11 states and union territories categorized as ‘aspiring leaders’.
Bihar, Andhra Pradesh, Mizoram and Ladakh make the list of emerging start-up ecosystems.
The states’ start-up ranking framework is spread across seven areas of intervention with a total of 26 action points. Capacity building of enablers, mentorship support, institutional support, funding support, fostering innovation and entrepreneurship, incubation support, and access to market are among the evaluation framework.