Ranking of states, UTs in startup ecosystem likely to be announced in July

The government is likely to announce the ranking of states and union territories (UTs) on the basis of measures being taken by them to promote startups in July, a government official said. "The work is going on for the ranking. Hopefully, we will release it by early July," the official said. The department of industrial policy and promotion under the commerce and industry ministry is working on this exercise.

These rankings would be on the basis of initiatives taken to develop startup ecosystem. The ranking framework covers seven areas of intervention and 38 action points including policy support, incubation centres, seed funding, angel and venture funding and easier regulations.

"All the states are taking series of steps to promote startups. The launch of the ranking framework has galvanised the states and UTs into action, thereby giving impetus to the startup movement across the country," the official added.

The government has launched the Startup India Action Plan to promote budding entrepreneurs in the country. The plan is aimed at giving incentives such as tax holiday and inspector raj-free regime and capital gains tax exemption.

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The department in April has stated that a total of 8,765 startups have been recognised since January 2016 and, out of that, 88 startups have been certified for claiming tax exemptions by the inter-ministerial board.