Odisha Achieves ‘Top Performer’ Status in National Startup Ranking 2022

In a notable feat, Odisha has been recognised as a ‘top performer’ in the Startup Ranking-2022, affirming the state’s significant strides in fostering a vibrant startup ecosystem and supporting entrepreneurial initiatives. The Ministry of Commerce and Industry announced the rankings on Tuesday, underscoring Odisha’s commendable growth in nurturing startups.

Evaluated across seven reform areas encompassing 25 action points, Odisha was acknowledged for its outstanding performance in various categories. Gujarat, Karnataka, Kerala, and Tamil Nadu were declared the ‘best performers,’ while Odisha earned its ‘top performer’ status alongside Maharashtra, Punjab, Rajasthan, and Telangana in the A category of states.

Key Highlights of Odisha’s Ranking:

  1. Funding Support: Odisha secured a perfect score of 100 percentile in the ‘funding support’ reform area, showcasing the state’s robust financial backing for startups.
  2. Institutional Support and Capacity Building: The state earned commendable scores of 89 each in ‘institutional support’ and ‘capacity building of enablers,’ reflecting the collaborative efforts to provide a supportive infrastructure for budding entrepreneurs.
  3. Access to Market and Innovation: With scores of 73 in ‘access to market’ and 71 in ‘fostering innovation and entrepreneurship,’ Odisha demonstrated a commitment to creating an environment conducive to market entry and innovation.
  4. Areas of Improvement: The state’s performance was relatively lower in ‘incubation and mentorship support’ and ‘roadmap to a sustainable future,’ where it scored 44 and 25, respectively. The Ministry recommended focusing on establishing more incubators, creating a robust mentorship network, and offering specific incentives for startups in sustainability, renewable energy, climate change, and circular economy sectors.

Government Initiatives and Future Plans:

Executive Chairman of Startup Odisha, Omkar Rai, highlighted the state’s progressive initiatives and the ongoing consideration of a new startup policy aligning with global best practices. The new policy will particularly focus on environmental, social, and governance (ESG) factors, prioritising women-led entrepreneurship.

Rai expressed the vision to inspire and support promising entrepreneurs on their journey, fostering a conducive startup environment. Odisha has been a pioneer in this regard, having launched one of the first dedicated startup policies in the country.

State’s Previous Successes:

Startup Odisha has been instrumental in supporting and facilitating over 1800 startups across various sectors, with 42% being women-led startups. The state currently boasts 27 incubators and aspires to create a system facilitating 5,000 startups by 2025.

The recognition as a ‘top performer’ in the national startup ranking reaffirms Odisha’s commitment to innovation, entrepreneurship, and creating a conducive environment for startups to thrive. As the state continues to evolve as a hub for startups, collaborative efforts are expected to further bolster its position on the national startup stage.

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