Ranking of states, Union Territories on startup development to be announced on 20 December

The rankings are based on the initiatives taken to develop startup ecosystem for promoting budding entrepreneurs.

Press Trust of India December 18, 2018 15:22:51 IST
Ranking of states, Union Territories on startup development to be announced on 20 December

New Delhi: The government will announce on Thursday the ranking of states and Union Territories (UTs) on the basis of measures being taken by them to promote startups, a government official said.

"The work is completed for the ranking and we will release it on 20 December," the official added.

The Department of Industrial Policy and Promotion (DIPP), under the ministry of commerce and industry, was working on this exercise.

Ranking of states Union Territories on startup development to be announced on 20 December

Representational image Thinkstock.

The rankings are based on the initiatives taken to develop startup ecosystem for promoting budding entrepreneurs.

The ranking framework covers seven areas of intervention and 38 action points including policy support, incubation centres, seed funding, angel and venture funding and easier regulations.

So far 14,565 startups are recognised by the department. Out of this, maximum are from Maharashtra (2,787) followed by Karnataka (2,107), Delhi (1,949), Uttar Pradesh (1,201), Haryana (765) and Gujarat (764).

These startups are from different sectors including IT services, healthcare, education, food, agriculture, renewable energy, and technology hardware.

The government launched the Startup India Action Plan in January to promote budding entrepreneurs in the country. The plan aims to give incentives such as tax holiday and inspector raj-free regime and capital gains tax exemption.

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