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J&K acknowledged as ‘Emerging State’ for Startups in India

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Srinagar,Dec 20 CNS: Jammu and Kashmir has been ranked as an ‘Emerging State’ for startups in India, by the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce, Government of India. The DIPP Thursday announced State Startup Rankings of states and Union Territories (UTs) for 2018 on the basis of the environment they have created for the startups. The rankings have been declared on the basis of the startup policy framework that DIPP had released earlier this year.

As per the rankings, the state of Jammu and Kashmir has been awarded a Certificate of Appreciation with recognition as an ‘Emerging State in developing and enabling Startup ecosystem in the State’ and‘As Leader for Seeding Innovation’.

Being the nodal agency for implementation of J&K Startup policy, Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) represented J&K in the State Startup India Rankings-2018. The ranking framework measures and compares the efforts and results of the startup initiatives and exercises undertaken by the State government.

On the occasion, Director JKEDI, Dr. M I Parray was felicitated and awarded a ‘Certificate of Commendation’ for his efforts that have been instrumental in enabling Jammu & Kashmir’s Startup Ecosystem and helping the state being acknowledged as an ‘Emerging State’ in the Startup Rankings.

DIPP has graded the states according to six categories, which are: Beginners, Emerging States, Aspiring Leaders, Leaders, Top Performers and Best Performers. The results, which were announced at an event in New Delhi, saw participation from top officials from different state governments and departments responsible for growing and managing the startup ecosystems in their respective states.

The state of Jammu and Kashmir has been placed in the category of ‘Emerging States’ which have more than 25 percentile but less than or equal to 50 percentile based on scores obtained after evaluation on seven pillars (parameters) with 38 pointers. The seven parameters include Startup policy and implementation, incubation support, seed funding support, funding support: Angel and Venture funding support, simplified regulations, easing public procurement and awareness and outreach. Other states in the list are Assam, Maharashtra, Punjab, Tamil Nadu, Goa, Delhi and Uttarakhand.

With this ranking, the state of Jammu and Kashmir is expected to further strengthen its startup ecosystem.