You are here: Home » PTI Stories » National » News
Business Standard

DIPP seeks stakeholders' views on draft methodology for states' startup ranking 2019

Press Trust of India  |  New Delhi 

The Department of Industrial Policy and Promotion (DIPP) has sought views of various stakeholders on its draft methodology to rank states and union territories this year on the basis of measures being taken by them to promote startups.

In the last ranking announced in December 2018, Gujarat has emerged as the best performer in developing startup ecosystem for budding entrepreneurs.

"We have drafted the methodology for states startup ranking 2019 with suggested pillars, action points and proposed weight for feedback. DIPP is seeking inputs on the proposed methodology," said a tweet by Startup India.

This twitter handled is managed by the department, which is under the commerce and industry ministry.

The draft discussion document has enlisted five broad principles for ranking.

It includes more emphasis to be given on feedback from actual beneficiaries; the framework shall be designed to inspire states so that they can target newer and higher goals; different yardsticks may be used for evaluation for states with mature startup ecosystems; and distinction may also be made on the basis of large States and small states.

The framework would evaluate progress made from May 1, 2018 to May 31, 2019.

The six pillars over which the department wants to rank states include awareness and outreach; easing public procurement; angel and venture funding support; seed funding support; incubation centres; and institutional support.

There are 28 action points suggested in the draft under these six pillars. These points include clear definition of startups, support from various departments, special incentives for women entrepreneurs, online systems, startup registration process, mentor network, R&D facilities, and systems to avail funds.

Further, it has also enlisted feedback questions such as whether startup is aware of the startup policy in the state; whether they are aware of initiatives and programs by other states; contact details of nodal officer and department; and whether they are aware of seed funding guidelines provided by the state.

As many as 22 states have so far formulated their respective startup policies.

A total of 27 states and three union territories participated in the last year's ranking exercise.

Last year, the ranking framework covers seven areas of intervention and 38 action points, including policy support, incubation centres, seed funding, angel and venture funding and easier regulations.

The government launched Startup India Action Plan in January to promote budding entrepreneurs in the country. The plan aims to give incentives such as tax holiday and inspector raj-free regime and capital gains tax exemption.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, January 10 2019. 21:06 IST