On 75th Republic Day of India, a celebration of India's democratic spirit, we delve into the success stories of the best states shaping the country's startup landscape. The 'States Startup Ranking 2022,' released by the Department for Promotion of Industry and Internal Trade (DPIIT), revealed the frontrunners in the race for the best startup ecosystems.
On this Republic Day lets celebrate the Amrit Kal of 5 Best Performing States in the startup ecosystem. We will see the burgeoning startup ecosystems of these states and the Tableaus of these states during the Republic Day Parade.
Gujarat, Karnataka, Kerala, and Tamil Nadu emerged as the best performers among large states, with Himachal Pradesh claiming the top spot among states with a population of less than 1 crore.
The government is taking all measures to nurture the startup ecosystem across the country. With this, not only is innovation acknowledged and promoted, but also the means of employment generation are cultivated. Startups are now integral to the formal economy in the country.
The Startup India initiative was launched by Prime Minister Narendra Modi on 16 January 2016 to build a strong ecosystem for nurturing innovation, boosting startups, and encouraging investments in the startup ecosystem of the country.
As of now, over 117,000 startups are recognized by the government. All the recognized ones are eligible to seek certain tax incentives.
.@indiannavy tableau highlights the themes of #NariShakti' and #Atmanirbharta showcasing strength, resilience, and maritime prowess in a vibrant display during the #RepublicDay2024 Parade.#75thRepublicDay pic.twitter.com/ZX23IkC4xN— PIB India (@PIB_India) January 26, 2024
While the entire country has a robust startup ecosystem, with each state having its own startup policy, let's take a look at the five best-performing states in the country according to the State Startup Awards 2022.
Southern States Shine Bright
The announcement, made by Commerce Minister Piyush Goyal on January 16, 2024, showcased the prowess of southern states, with three out of the top five positions secured by Karnataka, Kerala, and Tamil Nadu at the National Startup Day. This marked the fourth edition of the awards, with an impressive participation from 33 states and union territories.
Gujarat: A Beacon of Excellence
Gujarat, a stalwart in India's startup ecosystem, retained its top position as the 'Best Performer.' Since 2018, Gujarat has consistently bagged the prestigious award. The DPIIT report commended Gujarat's initiatives, including the GVFL Startup Fund for early-stage startups, capacity-building programs for government departments, and incubation programs like "Startup Grow."
The tableau of Gujarat takes part in the #RepublicDay2024 parade.— PIB in Gujarat 🇮🇳 (@PIBAhmedabad) January 26, 2024
Theme of the tableau is 'Dhordo: Global Icon of Gujarat's Tourism Development'.#RepublicDay2024 #26January2024 @GujaratTourism pic.twitter.com/89zFwK9wPw
Gujarat's Startup Ecosystem Highlights
Capacity Building Pioneer: Gujarat has established itself as a pioneer in capacity building at both national and international levels.
Funding Leader: The state's dynamic ecosystem is reflected in the GVFL Startup Fund, fostering early-stage startups.
Procurement Forerunner: Gujarat excels in supporting startups through tailored incentives and schemes.
Sustainability Promoter: Initiatives like the Drone Usage and Promotion Policy showcase the state's commitment to sustainability.
Incubation Hub and Mentorship Champion: With over 200 incubators and 300 mentors, Gujarat nurtures innovation.
Innovative Leader: Gujarat stands out as an innovative leader, with its Science, Technology, and Innovation Policy.
The state boasts close to 13,000 startups, a testament to its robust policies and initiatives. Gujarat's Startup Policy aims to further accelerate startup promotion and ecosystem strengthening.
Karnataka: The Silicon Valley of India
Karnataka, a stalwart in the software industry, secured the 'Best Performer' recognition, showcasing its prowess in innovation and technology. With a new Startup policy in place, Karnataka aims to support deep-tech startups throughout their lifecycle, contributing significantly to the nation's startup funding.
Karnataka's Startup Ecosystem Highlights
Capacity Building Pioneer: Karnataka leads in building capacities through programs like Young Entrepreneurship.
Funding Leader: Bengaluru alone accounted for 62% of the USD 41.7 billion funding raised by Indian startups in 2021.
Procurement Forerunner: The state facilitates streamlined approvals and a dedicated Startup Cell.
Sustainability Promoter: Karnataka focuses on renewable energy, sustainability, and climate change.
Incubation Hub and Mentorship Champion: With over 15,000 startups, Karnataka excels in incubation and mentorship.
Innovative Leader: Bengaluru ranks 8th in the Global Startup Ecosystem Index.
Karnataka's Startup Policy 2022 offers comprehensive support, including dedicated funds, simplified regulatory environments, skill development initiatives, and sector-specific clusters.
Kerala: The Entrepreneurial Hub
Kerala, with its diverse economy, secured the 'Best Performer' title, highlighting the state's commitment to fostering innovation and entrepreneurship. The Kerala Startup Policy 2022 provides a comprehensive framework to bolster the state's startup ecosystem.
Kerala's Startup Ecosystem Highlights
Capacity Building Pioneer: Kerala supports entrepreneurs, students, and women through knowledge dissemination.
Funding Leader: The state provides a dedicated fund for early-stage startups and tax breaks for private investors.
Procurement Forerunner: Kerala streamlines regulatory approvals and supports innovation hubs.
Sustainability Promoter: Initiatives focus on rural impact, contributing to around 65% of the state's GSVA.
Incubation Hub and Mentorship Champion: Kerala boasts multiple incubators, innovation zones, and accelerators.
Innovative Leader: The state aims to create 15,000 startups by 2027.
The state's policy emphasizes funding and financial support, a simplified regulatory environment, skill development, sector-specific clusters, market access, and networking.
Tamil Nadu: A Hub of Innovation
Tamil Nadu, with a rich history and diverse economy, is rapidly emerging as a vibrant hub within India's startup ecosystem. Recognized as the 'Best Performer,' Tamil Nadu is making strides in fostering innovation and entrepreneurship.
Tamil Nadu's Startup Ecosystem Highlights
Capacity Building Pioneer: Tamil Nadu establishes initiatives like TANSEED and sector disruptive funds.
Funding Leader: The state has a wide network of incubators and supports innovation voucher programs.
Sustainability Promoter: Initiatives focus on green-tech, women-led, and rural impact startups.
Incubation Hub and Mentorship Champion: Tamil Nadu emphasizes building a wide network of incubators.
Innovative Leader: The state promotes innovation through various funds and programs.
Tamil Nadu's Startup and Innovation Policy 2018 underlines individual-based subsidies, unemployment mitigation, and incentives for new industries and startups.
Himachal Pradesh: Scaling New Heights
Himachal Pradesh, known for its picturesque landscapes, has been recognized as the 'Best Performer' among states with a population of less than 1 crore. The state's proactive approach to promoting entrepreneurship is evident in the Chief Minister’s Startup/Innovation Projects/New Industries Scheme.
Himachal Pradesh's Startup Ecosystem Highlights
Capacity Building Pioneer: The state focuses on building an interactive portal and effective outreach mechanisms.
Funding Leader: Initiatives include awareness and outreach in higher education institutes.
Sustainability Promoter: The state supports startups with showcase and marketing opportunities.
Incubation Hub and Mentorship Champion: Himachal Pradesh emphasizes creating an effective mechanism for awareness.
The Chief Minister's Startup Scheme aims to promote self-employment, innovation, and the establishment of incubation centers in educational institutions.
The States Startup Ranking 2022 showcases the diversity and vibrancy of India's startup ecosystem. As the states continue to evolve and adapt to the changing landscape, the nation's entrepreneurial spirit remains resilient. The success stories of Gujarat, Karnataka, Kerala, Tamil Nadu, and Himachal Pradesh underscore the importance of sustained efforts, innovative policies, and collaborative ecosystems in shaping the future of startups in India.
As the #RepublicDay2024 parade wraps up at #KartavyaPath, Prime Minister @narendramodi takes a moment to personally greet and express gratitude to the spirited crowd that gathered to witness this momentous occasion#75thRepublicDay pic.twitter.com/gl9kdi2pWL— PIB India (@PIB_India) January 26, 2024
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