New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) has started working on State Ranking Framework 2020 for startups and it will take into account the feedback of the participating states and UTs, according to a report.
The ranking based on the 2019 framework was released by Commerce and Industry Minister Piyush Goyal on Friday in which Gujarat bagged the top position.
The DPIIT’s report said the next framework delves deeper into policies and incentives and builds on comprehensive accounts of states in the process of the ranking exercise of 2019.
“State Ranking Framework 2020 aims to address challenges, comprehensively incorporate feedback and portray the all-encompassing growth trajectory on a state and national level,” it said.
The report noted that State Ranking Framework 2020 is underway so as to facilitate continuity in the exercise that has led to growth of the startup ecosystem on a micro and macro scale.
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The 2019 framework, it said, was an effort to identify key actions undertaken by various states to help and scale up startups and related ecosystems.
The DPIIT report also stated that moving forward, governments would have to invest heavily in Research and Development (R&D) and upcoming technologies, to ensure first mover advantage and build further on their competitive value addition to this exercise.
As part of this collective initiative, it said, the Centre and states would need to work together and build required infrastructure, a dedicated system, pool of intellect and financial resources for all age groups across the country.
The 2019 framework had seven broad reform areas, consisting of 30 action points ranging from institutional support, easing compliances, relaxation in public procurement norms, incubation support, seed funding support, venture funding support, and awareness and outreach.
Further, it said while conducting the assessment exercise and interacting with states, some of the major challenges highlighted were access to funding and the need for simplification of regulations, specifically for disruptive technologies.
