A proactive mechanism to identify regulatory issues from disruptive sectors; iCreate, one of the largest startup incubators in the country; and its ‘Student Startup and Innovation’ policy helped Gujarat top the list, according to the DPIIT.
The state achieved this feat for the first time in 2018.
The state is seen as a hub for the textile, pharma and more recently auto industries. With more than 4,000 startups in the state, Ahmedabad, which houses the most startup incubators, is seen as one of the best places in the country to launch startups. From FMCG, pharma, IT, solar to agriculture, the state has seen a burst of activities for new ventures in last few years.
CIIE.CO, set up by the Indian Institute of Management, Ahmedabad, in association with the state government and Centre, is one of the most prominent incubators in the country which has accelerated over 500 startups across various sectors.
Startups are normally identified as a newly emerged, fast-growing business that aims to meet a marketplace need by developing a viable business model around innovative product, service, process or a platform. Gujarat was among the first few states that launched the State Startup Policy in 2015.
The notified Startup Policy under industries and mines department offers benefits and incentives across various areas of intervention. Additionally, the state has announced separate policies with sector-specific focuses and one specifically for student innovators.
The state government has also instituted a scheme for assistance of startups and innovations, allowing startups to leverage financial support of up to Rs 40 lakhs as seed support. More than 260 startups have benefited from this policy, the government said in a media statement.
The pivotal Student Startup and Innovation Policy (SSIP), spearheaded by the education department, is the only dedicated policy for supporting Student Innovation and Startups, the statement said. The policy extends financial grants to support student innovators and startups. SSIP has helped 137 institutions and led to 671 IP fillings, 3,472 proofs of concept, 817 startups, 109 pre-incubation labs and 47 Fab Labs till date. In the citation for Gujarat as announced during the ceremony, the state was deemed to be an “awareness and outreach champion”.
“SSIP is a one-of-its-kind policy in the country and Gujarat has taken monumental strides in leading the student startup movement of the country. The ranking results emphasises the success of models implemented by the state government for extending end-to-end support to the ecosystem and addressing issues at all levels of the startup ecosystem pipeline,” said Anju Sharma, principal secretary, higher and technical education.