Start-up Ecosystem In India

[pib] Second edition of States’ Ranking on Startup Initiatives

Note4students

Mains Paper 3: Economy | Development and Employment

From UPSC perspective, the following things are important:

Prelims level: States’ Start-up Ranking 2019

Mains level: Boosting the startup ecosystem in India


News

  • The Department for Promotion of Industry and Internal Trade (DPIIT) has released second edition of Startup Ranking for 2019.

States’ Start-up Ranking

  1. The DPIIT launched this exercise to rank states and UTs on the basis of measures being taken by them to promote startups, and added that it was consulting states for their ranking framework.
  2. Erstwhile DIPP began this exercise from January, 2016.
  3. The State Startup Ranking Framework is aimed at bringing to fore progress made by States/UTs for promoting startup ecosystem.
  4. The report intends to foster competitiveness and propel the states/UTs to work proactively while facilitating states/UTs to identify learn and replicate good practices.

About 2019 Framework

  1. The Ranking Framework 2019 comprises of 7 pillars and 30 action points.
  2. DPIIT has prepared the framework after several rounds of consultation with State and UT Governments.
  3. DPIIT also proposes to recognise States and UTs for their exemplary performance in seven pillars of the ranking framework:
  • Institutional support
  • Simplifying regulations
  • Easing public procurement
  • Incubation support
  • Seed funding support
  • Venture funding support
  • Awareness and outreach related activities
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