Bengaluru, NFAPost: The second edition of the Department for Promotion of Industry and Internal Trade (DPIIT) organised ‘States Startup Ranking Exercise’ found that Karnataka is the topmost state in all para metres for the second consecutive time.
The second edition of the ranking of states on support to startup ecosystems was released by Minister for Communications, Electronics & Information Technology and Law & Justice Shri Ravishankar Prasad.
The DPIIT conducted the second edition of the States’ Startup Ranking Exercise with the key objective to foster competitiveness and propel States and Union Territories to work proactively towards uplifting the startup ecosystem. It has been envisioned as a capacity development exercise to encourage mutual learning among all states and to provide support in policy formulation and implementation.
Karnataka is adjudged as the Top Performer and recognised as:
- An Institutional Leader,
- A Procurement Leader,
- A Regulatory Change Champion and
- Incubation Hub
The government launched the first edition of States Startup Ranking framework in the year 2018 and witnessed participation from 27 States and 3 Union Territories. The framework was aimed at ranking the States/UTs for establishing a robust ecosystem for supporting Startups. Karnataka was recognised as one of the ‘Top Performers’ in the States’ Startup Ranking 2018.
The Ranking Framework 2019 did comprise of 7 pillars and 30 action points. The pillars were designed to assess States’/UTs efforts across institutional support, simplifying regulations, easing public procurement, incubation support, seed funding support, venture funding support and awareness and outreach related activities.
Expressing happiness over the development, Karnataka Deputy Chief Minister and Minister for IT and BT Ashwath Narayan stated Karnataka is immensely proud of success stories budding out of Startup Ecosystem.
“We graciously accept the Top Performer recognition awarded by DPIIT. Government of Karnataka is happy and proud of the startups who have taken massive strides in their innovations and ventures. The government will continue its efforts to nurture and catalyse the growth of startups in the State. DPIIT’s Startup Ranking framework has helped the State unlock different potential areas for startups and reach out to the grass-root level innovationS,” said Karnataka Deputy Chief Minister and Minister for IT and BT Ashwath Narayan
Karnataka Deputy Chief Minister and Minister for IT and BT Ashwath Narayan said Karnataka has one of the most mature Startup ecosystems in the country and that’s the reason why Bengaluru is known as the Startup capital of India.
“Government of Karnataka has taken numerous initiatives to support Startups and build a conducive ecosystem for entrepreneurs in the State. Karnataka was also the first State to launch a dedicated policy for Startups. I thank DPIIT for recognizing us efforts in promoting ecosystem,” said Karnataka Deputy Chief Minister and Minister for IT and BT Ashwath Narayan.
The ranking exercise aims to evaluate measures taken by States/UTs during the assessment period from May 1, 2018 to September 30, 2019. The whole process has been conducted essentially as a capacity development exercise for States and Union Territories in the true spirit of cooperative federalism.
The Government of Karnataka has taken several exemplary initiatives in developing the startup ecosystem. The state government came up with futuristic policies to support new and disruptive technologies and regulatory committee for reviewing the challenges faced by startups working in emerging technologies.
Also, the state government-sponsored ELEVATE, a unique concept providing comprehensive entrepreneurship platform for startups, including idea validation, funding and space, has made deep impact across the state.