Startup ecosystem yet to gain momentum in Punjab
Vijay C Roy
Tribune News Service
Chandigarh, December 21
Punjab, known as land of entrepreneurship, has failed to live up to the expectations of startups as the ecosystem for startups is yet to gain momemtum in the state. It is a notch above north-eastern states like Manipur, Mizoram, Nagaland, Sikkim, Tripura, which are ranked at the bottom as per the State Startup Ranking Report released by the Department of Industrial Policy and Promotion (DIPP).
The state startup ranking framework measures and compares the efforts and results of the startup initiatives and exercises undertaken by the respective state governments.
The ranking is based over three dozen action points divided across seven broad categories which include the states’ startup policy and implementation, incubation support, seed funding, angel and venture funding, simplification of regulations, easing public procurement, and awareness and outreach.
On the basis of performance in these categories, states have been recognised as the best performer, top performers, leaders, aspiring leaders, emerging states, and beginners.
“Having received feedback, we are going to intensify our efforts to boost the startup ecosystem in the state. We are working with the industry, academia and industry bodies to develop the ecosystem and foster new ventures and help them grow. Taking a step forward, we have already signed an MoU for setting up a startup in Software Technology Park of India (STPI’s) incubation centre in Mohali and also supporting the centre in setting up the second centre in Amritsar,” Punjab Additional Chief Secretary, Industries & Commerce, Vini Mahajan told The Tribune.
In the northern region, Himachal Pradesh took the lead by introducing the startup policy in 2017. Later on Haryana unveiled the policy, followed by Punjab in 2017. Jammu & Kashmir introduced its startup policy in September this year.
Also, in terms of registered startups with the DIPP, Punjab is much below than other states and occupies 20th place. Around 102 startups from Punjab are registered. Youths get startups registered with the Department of Industrial Policy & Promotion (DIPP) to avail incentives offered by the Central government.
According to a government official, the objective of the ranking was to encourage the states and union territories to take proactive steps towards strengthening the startup ecosystems in their states.
Where states stand
Best performer Gujarat
Top performer Karnataka, Kerala, Odisha, Rajasthan
Leaders Andhra, Bihar, Chhattisgarh, MP, Telangana
Aspiring Leaders Haryana, HP, Jharkhand, UP, WB
Emerging states Assam, Delhi, Goa, Punjab, J&K
