DIPP to rank states on startup ecosystem

Hey startups! Here’s some good news for you!

The startup galaxy gets a pat from the Centre as it takes an initiative to rank states and union territories. This would be on the basis of measures being taken by them to promote budding entrepreneurs, as per Government reports.

“We have discussed the initial framework. Soon, we will be formalising that. By next month, we will be able to prepare that,” the reporting official added.

The main initiation would be taken by the DIPP and ranking would be done by a third party. “We are holding detailed consultations on parameters over which ranking can be done,” the official, who did not wish to be named, said.

Earlier the initiatives taken by the states and Union Territories to promote startups were discussed in the state startup conference. The parameters included a well-defined startup policy, startup cell, portal, network of mentors, participation in the public procurement, number of incubators/accelerators, funding status and tax incentives.

Odisha, Karnataka, Rajasthan have been proactive in promoting the startup ecosystem. The DIPP with some aid from the World Bank has developed an ongoing assessment on ranking states on the measures in laying an easy business environment. Plans like the ‘Startup India Action Plan’ have been launched by the Government to promote budding entrepreneurs in the country. The plan is aimed at giving incentives such as tax holiday and inspector-raj-free regime and capital gains tax exemption.

With this backing from the Centre, do you think the startup world is going to glam up even more?

Do let us know.

Excerpts from PTI.


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