Gujarat, Kerala, Karnataka, and Tamil Nadu earned top ranks in the States’ Startup Ranking 2022, showcasing their proactive efforts in fostering the startup ecosystem. The Department for Promotion of Industry and Internal Trade (DPIIT), under Union Commerce Minister Piyush Goyal, released the States’ Startup Ranking Framework (SRF) 2022 results on Tuesday. Maharashtra, Odisha, Punjab, Rajasthan, and Telangana secured positions as top performers. Himachal Pradesh secured the top position among Union territories and smaller states.
Union Commerce Minister Piyush Goyal is scheduled to engage with representatives from approximately 40 unicorn startups on Wednesday, focusing on strategies to further advance sustainable growth within the sector.
Piyush Goyal Releases States’ Startup Ranking
Union Commerce Minister Piyush Goyal unveiled the latest startup ranking on Tuesday. The Department for Promotion of Industry and Internal Trade (DPIIT), a division under the Commerce Ministry, conducted the ranking of states and union territories.
Simultaneously, the minister is set to engage in discussions on Wednesday with senior representatives from approximately 40 unicorn startups, including Lenskart, Zerodha, CarDekho, EasyMyTrip, Boat, and others. The aim is to explore ways to further boost sustainable growth in the sector, understand associated risks, and discuss plans for domestic capital mobilization, according to a senior official.
33 States and UTs Ranked Across Five Categories
The DPIIT report reveals that 33 states and Union Territories actively participated in the ranking exercise, categorized into best performers, top performers, leaders, aspiring leaders, and emerging startup ecosystems.
During the release of the startup hub ranking report, Goyal emphasized that startups will shape the nation’s journey toward development in the Amrit Kaal. He urged people of all age groups to join the startup ecosystem and contribute to research and innovation. Goyal stated, “New-age skills, futuristic technology, artificial intelligence, and innovation will chart the roadmap for the future of India.”
Startup India Initiative
On 16 January 2016, Prime Minister Narendra Modi initiated the Startup India initiative, aiming to establish a robust ecosystem fostering innovation, supporting startups, and promoting investments in the country’s startup landscape.
Currently, the government recognizes over 117,000 startups, all of which are entitled to pursue specific tax incentives.