DPIIT States Startup Ranking- Rajasthan Gets Top Performer Status for 2022

In a commendable achievement, Rajasthan, India’s largest state by area, has once again been recognized as a ‘Top Performer’ in the States’ Startup Ranking Framework (SRF) initiated by the Department for Promotion of Industry and Internal Trade (DPIIT) for the year 2022.

This marks the second occasion that Rajasthan has received this distinction, having been previously ranked as an ‘Aspiring Leader’ in 2021 and a ‘Top Performer’ in 2018.

The announcement of the fourth edition of the Startup Awards & State Ranking Awards for 2022 took place on January 16, 2024, coinciding with National Startup Day.

 

The rankings assess the efforts of states and union territories (UTs) in fostering the growth of their respective startup ecosystems.

During the event, Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Piyush Goyal, highlighted startups’ pivotal role in India’s journey towards becoming a developed nation by 2047.

Rajasthan’s consistent performance in the startup ranking is a testament to the state’s unwavering support for homegrown startups and entrepreneurs.

 

With over 3,700 DPIIT-registered startups, Rajasthan has positioned itself as a thriving hub for innovation. Jaipur, hosting more than half of the state’s startup ecosystem, has been instrumental in this success, driven by the government’s iStart initiative. The cumulative funding raised by Rajasthan-based startups since 2014 has surpassed $307 million.

Inderjeet Singh, Commissioner and Special Secretary of the Rajasthan Government, highlighted the significance of iStart, stating, “Since its inception in 2017, iStart has been pivotal in supporting startups across sectors like agritech, SaaS, health tech, and e-commerce.

It has become a hub for local talent, showcasing Rajasthan’s commitment to driving innovation and entrepreneurship.”

To nurture entrepreneurial spirit from a young age, the Rajasthan Chief Minister announced the ‘iStart School Startup Programme’ in 2021. 

This initiative aims to instil an entrepreneurial mindset in students, offering mentoring, resources, and infrastructural support through incubation centres across 33 districts.

According to reports, iStart has contributed to creating over 29,000 jobs within the state, with over 3,900 startups onboarded, including over 1,100 focusing on cutting-edge technologies.

Singh noted that startups affiliated with iStart have secured over INR 670 crore in additional venture capital funding, showcasing the program’s effectiveness beyond incubation.

The States’ Startup Ranking Framework (SRF), launched in February 2018, evaluates the efforts of Indian states and UTs towards nurturing their startup ecosystems.

It encourages states to implement relevant initiatives and policies, providing a roadmap for growth and identifying areas for improvement.

The latest rankings edition categorized states into two groups based on population size. Category A included states with a population over one crore, while Category B comprised states and UTs with less than one crore.

The evaluation covered seven broad reform areas with 25 action points, including institutional support, innovation and entrepreneurship fostering, market access, incubation and mentorship support, funding support, capacity building, and a sustainable future roadmap.

With the active participation of 33 states/UTs, the fourth edition of the SRF showcased states’ commitment towards creating a conducive environment for startups.

Thirty-one states and UTs have formulated state startup policies, and 3,102 startups received funding totalling INR 392 crore, underscoring the vibrancy of India’s startup landscape.