Tamil Nadu, Karnataka, Kerala, and Gujarat were ranked the best performing states in India at the startups awards function held in New Delhi on January 16. According to reports, Tamil Nadu scored 94th percentile in incubation and mentorship, 79th percentile in innovation and entrepreneurship and 75th percentile in drawing up a road map for sustainable futures. StartUp TN initiatives such as the TAN Seed Fund, SC/ST Startup Fund and others have received mention, The Hindu reports. According to DT Next, the areas where Kerala received commendation were in resource development, investment and procurement leadership, sustainable development, incubation, mentorship and innovation.
Addressing the startup awards and state ranking awards function, Commerce and Industry Minister Piyush Goyal said startups are playing a pivotal role in India's journey towards becoming a developed nation by 2047.
He highlighted the diverse sectors in which startups are making substantial contributions, ranging from MedTech, FinTech, AgroTech to the aviation sector, drones, and simulators. He identified tourism as a sector with untapped potential, encouraging startups to explore innovative ideas around sustainable tourism. He also recalled that PM Modi had said at the Vibrant Gujarat summit that the priority is New Age Skills, Futuristic Tech, AI & Innovation.
Expressing appreciation for the achievements in sectors like millets and food processing, Goyal urged startups to focus on new areas such as artificial intelligence (AI). He encouraged them to come up with ideas that make life easier and revolutionise existing ways of working.
The Minister commended the significant progress made in the startup sector over the last eight years, stating that what was once a novelty has now become an integral part of the national mainstream.
Goyal expressed confidence in the entrepreneurial spirit of both the young and old, urging them to contribute their unique perspectives and ideas to the startup ecosystem. He reiterated that age should not be a barrier to engage with new ideas and foster innovation.
The Minister noted that India has emerged as the third-largest startup ecosystem globally, realising the dreams of countless entrepreneurs and introducing innovative ways of doing business.
During his address, Goyal outlined key initiatives that will be taken to further support startups, including the categorisation of startups into different sectors for more focused interactions, the sanitisation of data to identify their locations and track development stage of the startups, and efforts to ensure all startups are registered on the Department for Promotion of Industry and Internal Trade (DPIIT) portal.
The Minister called for greater collaboration and mentoring through the MAARG portal - Mentorship, Advisory, Assistance, Resilience and Growth of Startup India. He emphasised the importance of outreach and on-boarding startups with the Government e-Marketplace (GeM) as the process for onboarding of startups has been simplified. He encouraged startups to register for patent, copyright, and trademark protections as the fees have been reduced for them.
Goyal announced that ‘Startup Maha Kumbh’ is scheduled to be organised in March 2024. He assured continued government support for the startup ecosystem, inviting entrepreneurs to leverage the vast consumer market and work collaboratively to transition from an emerging to a developed startup system.