Gujarat, Karnataka, top performing start-up ecosystems, funding increased 7x in eight years

Gujarat and Karnataka are ranked as the top performing states in the Startup States Ranking 2021. Among the smaller states, Meghalaya tops the list.

Between 2015 and 2022, the number of investors in start-ups increased ninefold, total start-up funding increased sevenfold and the number of incubators saw sevenfold growth, according to the report . India has 70,809 recognized startups with 648 districts with at least one recognized startup. The start-ups employ around 7.5 lakh people in the country.

A total of Rs 85.47 million work vouchers have been provided to 299 start-ups by 15 states/union territories, and 31 states/union territories have a start-up policy in place. According to the report, 47% of start-ups have at least one female director.

The awards were announced by Piyush Goyal, Union Minister for Trade, Industry and Textiles. Divided into three categories such as Best Performers, Top Achievers, Leaders and Aspiring Leaders, the third edition of the awards saw the participation of 31 States/Union Territories.

Gujarat and Karnataka have been named as an Institutional Champion, Capacity Building Pioneer, Sourcing Pioneer, Incubation Center and Funding Leader for its various start-up initiatives. Programs such as herSTART, a targeted program to enable growth in the number of women entrepreneurs, and the establishment of the Gujarat State Biotechnology Technology Mission (GSBTM) fund for biotechnology start-ups, were among the new initiatives in Gujarat. Karnataka has been credited for developing modernist policies including an engineering research and development policy to attract industry incentives and regulatory sandboxes for start-ups to benefit from exemptions from state and municipal laws.

Among Category B, which are states and union territories with a population of less than 1 crore, Meghalaya was the only state to find a place among the list of top performers. The state has been recognized for creating strong programs such as “From Idea to Execution” for building capacity in higher education institutions, supporting local women and entrepreneurs through the PRIME Kickstart grant, and Scaleup Innovation Loan, and provided comprehensive mentoring through PRIME Acceleration Coaching.

Kerala, Maharashtra, Odisha and Telangana were ranked in the “best performing” category A and Jammu and Kashmir was the only category B inclusion.

Uttarakhand, Assam, Tamil Nadu, Uttar Pradesh and Punjab were ranked as “leaders”, while Goa, Arunachal Pradesh and the Andaman and Nicobar Islands were included as small states. Rajasthan, Chhattisgarh, Himachal Pradesh, Madhya Pradesh, Delhi, Chandigarh and Nagaland are among the 11 states and union territories classified as ‘Aspiring Leaders’.

Bihar, Andhra Pradesh, Mizoram and Ladakh are on the list of emerging start-up ecosystems.

The state start-up ranking framework is broken down into seven focus areas with a total of 26 action points. Capacity building of facilitators, mentorship support, institutional support, financial support, promotion of innovation and entrepreneurship, incubation support and market access are part of the framework. Evaluation.