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

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New Delhi | Published: December 18, 2018 3:59:52 PM

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

ranking of states, DIPP, startups, Maharashtra, IT services, Startup India Action PlanThe rankings are based on the initiatives taken to develop startup ecosystem for promoting budding entrepreneurs.

The government will on Thursday announce 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 December 20,” the official added. The Department of Industrial Policy and Promotion (DIPP), under the ministry of commerce and industry, was working on this exercise. 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.

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The government launched 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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