Karnataka and Kerala have topped the charts in the new States’ startup ranking List. At the same time, Gujarat retained its best performer position announced by the Department for Promotion of Industry and Internal Trade (DPIIT). The startup ranking list was introduced to encourage a conducive entrepreneurial environment and build capacity at the state level to support innovation. 22 states and 3 Union Territories participated in the exercise.
The DPIIT has close to 36,000 registered startups under their ambit. In their report, they also suggested that these startups have employed 4 lakhs jobs across the country.
Talking about the list, Piyush Goyal, Union Ministry for Commerce and Industry, said about the entrepreneurs: Young entrepreneurs in the country have made India truly proud across the world.
In States’ startup ranking list, Gujarat is considered as the best performer amongst the states because of their proactive approach to mechanism to identify the issues and solve it. Also, Gujarat has set up one of the largest incubators in the country called iCreate. Moreover, student startup-friendly policy and its innovation policy increase the capacity of the premier and higher educational institutes.
The reason behind Karnataka’s excellent performance in the States’ startup ranking list is due to its welcoming approach to the investments from foreign investors. Also, Karnataka’s futuristic policies of supporting the startups and adapting new technologies have yielded good results. Apart from all these accolades, Karnataka is recognized as the institutional leader, procurement leader, and incubation hub.
Karnataka’s southern counterpart, Kerala, stands different because of its women-centric approach. The government’s support to the women to start their venture in Kerala is unparalleled across the country. Kerala has a robust venture funding mechanism for startups, along with support from various government departments.
India is currently the third-largest startup hub across the globe. In the times of pandemic, startups are picking the trend and are hiring more than well-established brands. The contribution of startups in the growth of a nation is unmatchable. As per the latest Indian Tech Startup Ecosystem report of NASSCOM-Zinnov, India is likely to create over 1.1 million direct jobs.