Skip to main content

DIPP To Rank States On Basis Of The Success Of Their Startup Policies; Invites Feedback From Ecosystem Stakeholders

The Efforts Taken By The States Before March 2018 Will Be Considered And Final Ranking Will be Announced In June 2018
 
The Department of Industrial Policy and Promotion, DIPP is now inviting feedback from startup ecosystem stakeholders to rank the states and union territories on the basis of the success achieved in implementing their startup policies. A feedback mechanism has been opened on the official website of Startup India.

As mentioned on the Startup India website, the said stakeholders include startups, mentors, investors, accelerators, incubators and the government bodies.

“For this exercise, all actions and initiatives undertaken by states on or before March 2018 will be considered. Some of the parameters, which was essential for states to have a well-defined startup policy running, include having a startup cell or helpline and a mobile or web portal to act as a one-stop-shop for all queries on starting up, the size of the mentor network created by the state government for startups and also the number of key incubators for incubation support to startups,” saidan ET report.

The final ranking of the states is expected to be awarded by June next year. The report further states that the ranking parameters have been made public on the Startup India hub website. This includes:
  • Hand holding and easing compliance with regulations,
  • Infrastructure support,
  • Research and development and human capital development support,
  • Fundraising support and fiscal incentives,
  • Marketing support and promoting international exposure to state startups

To date, 15 startups have announced their startup policies. These include Andhra Pradesh, Goa, Kerala, Rajasthan, Telangana, Karnataka, Odisha, Chhattisgarh, Gujarat, Bihar, Uttar Pradesh, Madhya Pradesh, West Bengal, Assam, and Uttarakhand. Also, recently Haryana state government also announced to launch its startup policy.
Here are some recent announcements from different state governments on implementing new funds and taking new initiatives to boost their startup ecosystem.
  • Banking on its policies, the Andhra Pradesh’s government managed to achieve an 11.72% growth rate as compared to 5.7% in India. Recently, Andhra Pradesh Chief Minister N. Chandrababu Naidu said to allot $15.6 Mn (INR 100 Cr) to create a separate startup fund for budding entrepreneurs.
  • In August 2017, Uttar Pradesh Chief Minister Yogi Adityanath set up a $156.2 Mn (1000 Cr)startup fund for helping entrepreneurs in the state.
  • Launched in April 2017, the North East Venture Fund was the first dedicated venture capital fund for the North-Eastern region. The size of the fund would be about $15.5 Mn (INR 100 Cr).
  • In May 2017, Karnataka’s agriculture department set aside about $1.5 Mn (INR 10 Cr) fund to be administered by the information technology and biotechnology (ITBT) department. In March 2017, Priyank Kharge also announced a fund of $1.4 Mn (INR 10 Cr) for women entrepreneurs of the state.
  • In March 2017, the Government of Bihar set up a startup fund as a trust, with an initial corpus of $76 Mn (INR 500 Cr)


Since the announcement of Startup India Action plan by PM Narendra Modi, the states have been working actively in implementing their startup policies. With DIPP taking into consideration the feedback from startup ecosystem stakeholders, a fair ranking can be expected.

Comments

Readers Choice

Lead Your Team Into a Post-Pandemic World

During the Covid-19 crisis, I’ve spoken with many CEOs who have shared that a key priority for them, naturally, has been the safety and well-being of their employees. And there are many examples of inspiring actions taken by CEOs and companies in support of their employees. But as we’ve come to recognize that this crisis will last more than a few short weeks, companies are now defining their approach for the long haul. I’ve seen two crucial ideas take hold with corporate leaders. One: Given the magnitude of the shock and the challenges that this crisis represents, companies must consider the full breadth of their employees’ needs as people. Safety is essential, of course, but it’s also important to address higher-level needs such as the want for truth, stability, authentic connections, self-esteem, growth, and meaning in the context of the crisis. Two: Many CEOs have begun thinking about this crisis in three phases. They may assign different names or specific lengths to t

4 Ways Google Search Can Help You Achieve Your Marketing Goals

Google Ads Google Ad extensions are a great way to add key descriptive text without taking up space in your actual ad and improve your quality score for even better results. It’s a win-win right? Google Maps Is your business discoverable on Google Maps? For small businesses, adding detailed information and the use of strategic keywords can be helpful for a better location optimization. Google Ranks SEO is vital for moving up in Google rankings. To climb up the ladder, incorporate top keywords in page titles, meta tags and focus on consistently delivering relevant content. Backlinking If SEO is the the only strategy you have, it is the right time to change that. Start adding backlinks to your content. Quality backlinks can further increase your brand authority. 

Twenty Smart Business Buzzwords

Some words may grate on your nerves, but business leaders are still using "disrupt," "synergy" and "ideate." You should too. Spend any amount of time in a corporate environment and you'll likely notice there are some words that seem to come up on a daily basis. Certain verbiage becomes part of the  corporate culture  and soon, you may feel as if you need to use it to fit in. While they can change from one day to the next, most corporate buzzwords have a positive meaning. They're used to boost morale and motivate everyone involved in the conversation. Here are 20 of the top business buzzwords that you should make an effort to work into your vocabulary. 1. Impact Impact is a powerful word that has become a favorite of business professionals.  Grammarians argue  that the word is being used improperly, urging you to use "affect" instead, but businesses love it. 2. Corporate Synergy Half of the people who use this term likely