Context:

• Himachal Pradesh has recently garnered national recognition by being awarded the "Best Performer" title in the "State's Start-up Ranking ".

Key Points:

• Himachal Pradesh has won the title among Category B states, which includes those with a population of less than one crore. This accolade positions Himachal Pradesh as a formidable contender in the start-up ecosystem, competing with established states like Gujarat and Karnataka. The award was presented during the "State's Start-up Ranking " event organized by the Department for Promotion of Industry and Internal Trade (DPIIT) in New Delhi.

Understanding the State's Start-up Ranking initiative

• The States' Start-up Ranking is a strategic initiative launched by the DPIIT in February 2018, aimed at evaluating the efforts of states and union territories in fostering a conducive environment for start-ups.
• The ranking system assesses the startup ecosystem through the lens of state policy interventions, identifying best practices that promote growth and development. By tracking the progress of these policies annually, the initiative encourages states to implement dedicated start-up policies and enhance their overall ecosystem-building efforts.
• The fourth edition of the ranking exercise involved a comprehensive evaluation of 33 states and union territories, based on seven reform areas and 25 action points.
•  The total score for the evaluation was 85 marks, with an additional 15 marks available through a feedback exercise, culminating in an overall score of 100. To ensure a standardized ranking process, states and union territories were categorized based on their population size.

Himachal Pradesh's performance and recognition

• Himachal Pradesh's impressive performance in the ranking can be attributed to its robust start-up ecosystem, which was evaluated across seven reform areas and 27 action points.
• The state was recognized for its multifaceted contributions, earning titles such as Capacity Building Pioneer, Funding Leader, Sustainability Promoter, Incubation Hub, Mentorship Champion, Innovative Leader, and Institutional Champion.
• Notably, Himachal Pradesh boasts the highest number of incubation centers per capita among the top-performing states, reflecting its commitment to nurturing start-ups.
• The state was also acknowledged as an "Outstanding Performing" State under the Pradhan Mantri Formalization of Micro Food Processing Enterprises at the World Food India event in November 2023. This recognition underscores the state's efforts in building a strong ecosystem that supports micro and small enterprises.

Initiatives and future plans

• The Himachal Pradesh government has taken significant strides to enhance its start-up ecosystem. The establishment of an interactive start-up portal serves as a vital resource for all stakeholders, including incubators, accelerators, mentors, and start-ups. This platform facilitates networking and collaboration, providing start-ups with opportunities for showcasing their innovations and marketing their products.
• In addition to these initiatives, the state government is planning to introduce a new start-up policy that will include special provisions for rural-based and women-led start-ups. This forward-thinking approach aims to empower marginalized groups and promote inclusive growth within the start-up ecosystem.
• Furthermore, the government is set to onboard new incubation centers at prestigious institutions such as the Indian Institute of Management, Sirmaur, and the All India Institute of Medical Sciences, Bilaspur. These centers will play a crucial role in fostering innovation and entrepreneurship among students and aspiring entrepreneurs.