Hon’ble Minister for Commerce and Industry, Shri
Suresh Prabhu launched the States’ Startup Ranking 2018 at an event organised 6 February 2018t at the Pravasi Bhartiya
Kendra, New Delhi, says a release from the Ministry of Commerce.
The event was attended by Hon’ble Minister of State
for Commerce and Industry, Shri C. R. Chaudhary, delegates from 19 States
across the country, many Venture Capitalists, angel investors and Startups.
The States Startup Ranking framework launched by
Department of Industrial Policy and Promotion is an exercise aimed at ranking
States for establishing a robust ecosystem for supporting Startups. The
framework will evaluate States on parameters such as Startup policy and
implementation, incubation support, seed funding support, angel and venture
funding support, simplified regulations, easing public procurement, awareness
A compendium of good practices for strengthening
Startup ecosystem was also released. The handbook identifies 95 good practices
implemented by Central and various State Governments.
Speaking on the occasion, Shri Suresh Prabhu said, “I
am confident that the ranking framework would promote healthy competition among
the States and enable them to further learn, share and adopt best practices
across the seven identified key parameters. I am sure the exercise would generate
collaboration amongst all the stakeholders to turn the Hon’ble Prime Minister’s
vision to have Startups in every district and every block a reality”.
Shri C. R. Chaudhary Hon’ble Minister of State for
Commerce and Industry said, “This compendium of good practices will foster
learning and healthy entrepreneurship spirit in all the States and facilitate
all policy makers in formulation of policies and scheme for overall development
of Startup ecosystem in the country.”
Shri Ramesh Abhishek, Secretary, Department of
Industrial Policy and Promotion, mentioned that, “The key objective of the
Startup states ranking framework is to encourage States to take proactive steps
towards strengthening the enabling Startup ecosystems at the State level.
Selection of the right parameters to effectively cover all aspects was one of
the major challenges faced while developing the framework. Benchmarking studies
and extensive stakeholder feedback have helped us arrive at a well-balanced
framework. Our aim is not only to measure the extensive efforts made at the
State level towards building a strong Startup ecosystem, but also to enable an
environment of constant learning through dissemination of good practices.”