State's Startup Ranking 2022- Gujarat, Karnataka, Kerala Emerged Best

Utkarsh Classes Last Updated 18-01-2024

State's Startup Ranking 2022- Gujarat, Karnataka, Kerala Emerged Best

Report 5 min read

The State’s Startup Ranking Framework 2022 report was released by the Department for Promotion of Industry and Internal Trade (DPIIT). According to this report, Gujarat, Karnataka, and Kerala are the best-performing states in terms of startup ecosystem development.

Commerce and Industry Minister Piyush Goyal gave these awards to the states on January 16, 2024.
Punjab, Rajasthan, Telangana, Orissa and Maharashtra were given top performance awards.
The Startup Leader category award was bestowed upon Uttar Pradesh, Uttarakhand, Madhya Pradesh, Assam, and Andhra Pradesh.
On this occasion, Piyush Goyal said that startups are playing a very important role in making India developed by the year 2047.

Key points of State’s Startup Ranking Framework 2022 report:

India has the third-largest startup ecosystem in the world.
The exercise saw the active involvement of 33 states and union territories in total.
Nearly 1,800 recognized startups have been granted patents. The number of such recognized startups has exceeded 1.17 lakh.
The report ranked states and union territories in five categories. Mainly among these:
- Best performing states: Gujarat, Karnataka and Kerala
- Top performing states: Punjab, Rajasthan, Telangana, Orissa and Maharashtra
- Leading states: Uttar Pradesh, Uttarakhand, Madhya Pradesh, Assam and Andhra Pradesh
- States with Ambitious Leadership: Bihar and Haryana
- States developing emerging startup ecosystems: Chhattisgarh, Delhi, and Jammu and Kashmir
The ranking is determined by assessing the efforts made to foster the startup ecosystem and support emerging entrepreneurs through various initiatives.

Objective of State’s Startup Ranking Framework:

The States’ Startup Ranking aims to empower states and union territories to develop their startup ecosystem. And also to help learn from each other's best practices.

Number of startups exceeds one lakh:

According to the DPIIT report, the number of startups has grown at a rate of 120 percent annually over the last seven years.
The number of startups has crossed one lakh.
The startup has a presence in almost all 670 districts of the country.

112 Unicorn Startups in the Country:

Currently, there are a total of 112 unicorn startups in the country. Their total value is Rs 30 lakh crore.
In 2021, a total of 45 unicorns emerged with a combined valuation of Rs 8.5 lakh crore, contributing to the overall count of unicorns. Whereas 22 unicorns with a total valuation of about Rs 2.5 lakh crore were born in 2022.
The startup has given jobs to more than 10 lakh people.
According to Union Minister Goyal, startups are making important contributions in various sectors ranging from pharma, finance, agriculture to aviation and drones.
There are immense opportunities for startups in the tourism sector and they should take advantage of it.

Basis of evaluation of states:

The ranking framework evaluates states and union territories based on seven reform areas spread across 25 action points. The areas of improvement are:
- Institutional Support
- Fostering Innovation and Entrepreneurship
- Market Access
- Incubation and Mentorship Support
- Funding Support
- Capacity Building of Capable People and
- Roadmap to a Sustainable Future.
For the first time since the introduction of the ranking framework, the important dimension of sustainability has been included in the assessment of State and Union Territory ecosystems.