Gujarat ranked best state for startups in India, Maharashtra has the largest number

Gujarat ranked best state for startups in India, Maharashtra has the largest number

News:

Department of Industrial Policy and Promotion (DIPP) has awarded Gujarat as the best performer in Start-up Ranking 2018.

Important Facts:

• The Department of Industrial Policy and Promotion (DIPP) announced results of the first ever States’ Start-up Ranking 2018. DIPP began this exercise from January, 2016.
• Gujarat has been ranked as the best state in developing startup ecosystem for budding entrepreneurs.
• Other states ranked top performers were Karnataka, Kerala, Odisha, and Rajasthan.
• States have been identified as leaders across various categories such as Start-up policy leaders, incubation hubs, seeding innovation, scaling innovation, regulatory change champions, procurement leaders, communication champions, North-Eastern leader, and hill state leader.

Objective of the Exercise:

• The key objective of the exercise was to encourage States and Union Territories to take proactive steps towards strengthening the Start-up ecosystems in their states. The methodology has been aimed at creating a healthy competition among States to further learn, share and adopt good practices.

Additional Facts:

• The Startup India Action Plan was launched by the Modi government in January 2016 to promote entrepreneurs in the country. The plan aims to give incentives such as tax holiday and inspector raj-free regime and capital gains tax exemption.