Punjab: From ‘emerging state’ in 2018 to ‘top performer’ in 2022

Vijay C Roy

Chandigarh, January 28

Maharashtra, Odisha, Punjab, Rajasthan and Telangana have been ranked as ‘top performers’ in the fourth edition of the States Startup Ranking 2022, released by the Department for Promotion of Industry and Internal Trade (DPIIT) recently. The ‘best performer’ states are Gujarat, Karnataka, Kerala and Tamil Nadu.

From ‘emerging start-up ecosystem’ to ‘top performer’, Punjab has gradually improved its ranking in the startup rankings over the years. In the first edition of the States Startup Ranking 2018, it was recognised as ‘emerging state’. In the second edition in 2019, it jumped one spot up and was recognised as ‘aspiring leader’. Similarly, in third edition in 2020, it managed to jump one more spot up and emerged as ‘leader’. Now, in the fourth edition in 2022, it has been recognised as ‘top performer’ state, again one spot up.

This edition’s ranking exercise saw the highest-ever participation with 33 states and UTs participating. According to DPS Kharbanda, Director, Industries and Commerce, State Startup Nodal Officer, Administrative Secretary & CEO Invest Punjab, there has been constant improvement in rankings due to the sustained multi-prolonged work done by the Startup Punjab team.

The key initiatives which led to improvement in its ranking includes undertaking capacity building programmes for key stakeholders and enablers, funding and institutional support, access to market, incubation and mentorship support.

Also, the state has supported state startups amounting to more than Rs 3 crore during the period of consideration i.e August 1, 2021 to December 31, 2022. Also, initiative to connect potential investors with startups through various programmes was also taken. The ranking assumes significance for the state as it will help in attracting new startups.

Presently, more than 1,280 startups from the state are registered with Startup India-Department of Promotion of Industry & Internal Trade.

For the purposes of ranking, states and UTs were classified into five categories – best performer, top performer, leader, aspiring leader and emerging startup ecosystems.