CHENNAI: Tamil Nadu emerged as a ‘best performer‘ state for the year 2022 in Startup India’s State Startup Rankings announced on Tuesday.
From occupying the bottom rung of the ranks in 2018 and 2019 categorized as an ’emerging startup ecosystem’, the state was adjudged as a ‘leader’ for the year 2021, and based on developments in 2022, it emerged in the top most ranking level as ‘best performer’.
Gujarat, Karnataka, Kerala and Himachal Pradesh were also adjudged as best performers in the current ranking exercise. Maharashtra, Odisha, Punjab, Rajasthan and Telangana were ranked as ‘leaders.’
The state revamped its nodal startup agency StartupTN in 2021. It has also made budget allocations towards launch of new funds such as Tamil Nadu Startup Seed Fund (TANSEED), Emerging Sector Seed Fund and Tamil Nadu SC/ ST Fund. As per latest counts, TN has over 7,600 startups registered under the Startup India scheme with more than 2250 startups registered in 2022 under the period of consideration alone.
Speaking to TOI, StartupTN CEO Sivarajah R said that measures such as launch of new funds, networks to connect entrepreneurs to investors, global outreach, inclusivity goals, and other such reforms helped the state climb the ranks.
“Though we released the new startup policy only in 2023, we have been doing most of the measures mentioned in it already,” he said. “The aim is to become one of the top 20 global startup destinations by 2032,” he added.
Among the seven pillars of evaluation, Tamil Nadu emerged in the 100th percentile in three areas- offer of institutional support to startups, funding support, and capacity building of entrepreneurs. The state scored 79th percentile in fostering innovation, 64th in market access creation, 94th in incubation support and 75th in its sustainability roadmap.
Procurement by the government and its agencies from startups is an area that needs work, the report notes. TN has given over 60 work orders to startups with the total value of all work orders worth more than Rs 15 crore in the period of the ranking.
“The state may give mandate to each state departments and State PSUs to compulsorily procure a certain percentage of required goods or services from registered startups,” the report recommends.
Launched in 2018, the states startup ranking is released by the Department for Promotion of Industry and Internal Trade (DPIIT) and evaluates India’s states and Union territories on their efforts to build a startup ecosystem. The evaluation period for the 2022 ranking spans from August 2021 to December 2022.
From occupying the bottom rung of the ranks in 2018 and 2019 categorized as an ’emerging startup ecosystem’, the state was adjudged as a ‘leader’ for the year 2021, and based on developments in 2022, it emerged in the top most ranking level as ‘best performer’.
Gujarat, Karnataka, Kerala and Himachal Pradesh were also adjudged as best performers in the current ranking exercise. Maharashtra, Odisha, Punjab, Rajasthan and Telangana were ranked as ‘leaders.’
The state revamped its nodal startup agency StartupTN in 2021. It has also made budget allocations towards launch of new funds such as Tamil Nadu Startup Seed Fund (TANSEED), Emerging Sector Seed Fund and Tamil Nadu SC/ ST Fund. As per latest counts, TN has over 7,600 startups registered under the Startup India scheme with more than 2250 startups registered in 2022 under the period of consideration alone.
Speaking to TOI, StartupTN CEO Sivarajah R said that measures such as launch of new funds, networks to connect entrepreneurs to investors, global outreach, inclusivity goals, and other such reforms helped the state climb the ranks.
“Though we released the new startup policy only in 2023, we have been doing most of the measures mentioned in it already,” he said. “The aim is to become one of the top 20 global startup destinations by 2032,” he added.
Among the seven pillars of evaluation, Tamil Nadu emerged in the 100th percentile in three areas- offer of institutional support to startups, funding support, and capacity building of entrepreneurs. The state scored 79th percentile in fostering innovation, 64th in market access creation, 94th in incubation support and 75th in its sustainability roadmap.
Procurement by the government and its agencies from startups is an area that needs work, the report notes. TN has given over 60 work orders to startups with the total value of all work orders worth more than Rs 15 crore in the period of the ranking.
“The state may give mandate to each state departments and State PSUs to compulsorily procure a certain percentage of required goods or services from registered startups,” the report recommends.
Launched in 2018, the states startup ranking is released by the Department for Promotion of Industry and Internal Trade (DPIIT) and evaluates India’s states and Union territories on their efforts to build a startup ecosystem. The evaluation period for the 2022 ranking spans from August 2021 to December 2022.