Gandhinagar: Gujarat is home to more than 19,000 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) and has been ranked the Best Performing State in the Startup India Rankings for five consecutive years, according to an official release.
The figures were highlighted as Prime Minister Narendra Modi completed 12 years in office on May 26. The release said Gujarat has emerged as one of the country's leading startup hubs and has strengthened its startup ecosystem through policy support, innovation initiatives and entrepreneurship-focused programmes.
According to the release, the Student Startup and Innovation Policy (SSIP), launched in 2017-18, was aimed at promoting entrepreneurship and innovation among students. Following the completion of the first phase, SSIP 2.0 was introduced in 2022. The policy supports startups across traditional sectors as well as emerging and new-age technologies.
Under SSIP 1.0 and 2.0, more than 13,047 student projects have received support at the Proof of Concept (PoC) stage. The release stated that over 4,043 Intellectual Property Rights (IPRs) have been filed, while 3,287 startups have received guidance and incubation support under the policy.
The release further stated that SSIP grantee institutions have utilised Rs 36.43 crore towards financial assistance for startups and innovations. More than 22.72 lakh students have participated in startup awareness initiatives conducted under the programme since its launch.
According to the release, more than 1,948 startup proposals from school students have been registered on the SSIP 2.0 portal, of which around 1,141 proposals have been approved.
The Gujarat Startup and Innovation Hub (i-Hub), established in 2019 under SSIP, has provided mentorship, incubation support and financial assistance to around 750 startups. The release described i-Hub as a facility providing legal, financial, technical and strategic guidance through a single-window support system while supporting startups at the pre-incubation, incubation and acceleration stages.
Under the Startup Creation Seed Support Scheme, more than 400 startups have received assistance worth Rs 28 crore. These startups have generated over 4,000 jobs and have a combined market valuation of approximately Rs 3,569 crore, according to the release.
The release further stated that i-Hub has facilitated more than Rs 446 crore in private funding through various venture funds and has promoted entrepreneurship and innovation awareness among over 4.5 lakh youth through its hub-and-spoke model operating across more than 20 districts.
According to the release, 269 women-led startups have received support under the WEstart initiative, which provides financial assistance, mentorship and networking opportunities to women entrepreneurs. The release also stated that 471 startups have received seed support assistance under provisions of the Gujarat Industrial Policy.
This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.