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Punjab fares better in start-up ranking

Punjab fares better in start-up ranking

Developing ecosystem pays off | Will attract more entrepreneurs

The state has jumped one spot up in the third edition of the States’ Startup Ranking 2021, released by the Department for Promotion of Industry and Internal Trade (DPIIT) today.

20 incubators in state

We have created ‘Innovation Mission Punjab’, a unique public-private partnership, to promote entrepreneurship. The state has simplified the process of registration of new start-ups, besides creating a network of over 20 incubators. Sibin C, director, industries & commerce

Punjab has emerged as the “Leaders” in a category of states, including Assam, Tamil Nadu, Uttar Pradesh and Uttarakhand in developing the start-up ecosystem for entrepreneurs. In the 2019 ranking, the state was recognised as the “Aspiring Leaders”.

The ranking assumes significance as it would help in attracting new start-ups. A total of 24 states and seven UTs participated in the exercise, which ranked them under five categories.

In an interaction with The Tribune, Sibin C, Director, Industries & Commerce, who is also the start-up Nodal Officer, said, “We have jumped one spot this time due to the sustained multi-prolonged work done by the startup team. Firstly, we have created ‘Innovation Mission Punjab’, a unique public-private partnership to promote entrepreneurship. Secondly, we have implemented the policy fully to promote budding entrepreneurs. The state has simplified the process of registration of new start-ups, besides creating a network of over 20 incubators.”

At present, 42 start-ups have been registered with Start-up Punjab and more than 350 Start-ups from the state have been registered with the DPIIT.

For the purpose of the ranking, the states and the UTs were classified into five categories—Best Performers, Top Performers, Leaders, Aspiring Leaders and Emerging Start-up Ecosystems. Gujarat, Karnataka and Meghalaya have been ranked as the best performers, among the states and the UTs for developing a conducive start-up ecosystem.

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