The States/UTs will be ranked based on parameters like- a well defined startup policy, startup cell, portal, network of mentors, participation in the public procurement, number of incubators/accelerators and kind of funding support and tax incentives.
According to a source, the offiial said, “We have discussed the initial framework. Soon, we will be formalising that. By next month, we will be able to prepare that,” The Department of Industrial Policy and Promotion (DIPP) will facilitate the process of ranking and it would be done by a third party. “We are holding detailed consultations on parameters over which ranking can be done,” the official added.
The government has also launched the Startup action plan in 2016, in order to help start-ups of the country in terms of- providing funding support through a fund of funds, tax exemption to start-ups fpr 3 years, relaxed norms of public procurement for start-ups, credit guarantee fund for start-ups etc.
The DIPP with the help of World Bank already ranks states in terms of measures they are taking to promote ease of doing business.