Startups Current Affairs

Government launches Start-up-India ranking framework

Department of Industrial Policy and Promotion (DIPP) under Commerce Ministry has unveiled Start-up-India ranking framework to rank states/UTs based on measures regions that have taken to foster entrepreneurship. It was launched by Union Minister of Commerce and Industry at a function held in New Delhi.

Startup States and UTs Ranking Framework

The framework aims to foster competitiveness and propel states/UTS to act proactively in startup matters. This ranking will help states to bring progress made in their startup ecosystem and also make different states learn and replicate good practices.

Its objective is to encourage States/UTs to take proactive steps towards strengthening Startup ecosystems at local level. It will also measure impact of each step initiated at local level for building strong Startup ecosystem. It will also enable continuous learning through the dissemination of good practices.

It is based on feedback collected from Startup ecosystem stakeholders, which include startups, mentors, investors, accelerators, incubators and government bodies. The parameters of this feedback focus on all actions and initiatives undertaken by states on or before March 2018.

These parameters include having startup cell or helpline and mobile or web portal for queries, size of startup mentor network created by state government and number of key incubators for incubation support to startups.  It also gives greater thrust like seed funding support, women entrepreneurship.

Background

India is home to about 20,000 startups, with about 1,400 beginning operations every year. They are driving economic growth and also leading to technological innovations and employment generation in every state. Entrepreneurs in these startups are introducing new solutions everyday and also are improving existing processes. Thus, this framework will encourage and help statrups and help government to create policies for ease of doing business for startups.

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Maharashtra becomes first state to unveil Public Cloud Policy

Maharashtra became first state in country to unveil Public Cloud Policy that virtually mandates state government departments to shift their data storage onto cloud.

Earlier in October 2017, State Government had formed four-member committee to draft policy framework on cloud usage, which had submitted a policy document that’s being now adopted as public cloud policy.

Key Facts

The policy will result in additional private sector investments worth US $2 billion for cloud industry as government is one of biggest creators and consumers of data. It will aim to generate 5 lakh jobs in next five years.

The policy is likely to be formally set in motion through detailed government resolution. In coming days, five to six top cloud service providers like Amazon or Microsoft will be empanelled for data storage onto cloud.

Under the policy framework, state government will make mandatory its various departments for storing data within country and to use public cloud in cases wherever Right to Information Act (RTI) is applicable. Later, it will also allow for enhanced security features for private and sensitive data to be stored on the cloud.

State Innovation and Start-up Policy

The State Cabinet headed by Chief Minister also had approved State Innovation and Start-up Policy. Its objective is to attract Rs.5,000 crore investments in development of incubation and start-ups. It will be applicable till 2022.

Under it, on an average three incubators in each of the 12 designated sectors and develop at least 2,000 start-ups will be established in next five years. It will result in development of at least 10 lakh sq ft of incubation space within the state. It will provide Rs.2,500 crore for youth entrepreneurship activities (1% of State Budget).

Under it, an establishment up to 5 years from date of its registration will be considered as start-up. Its annual turnover must be up to Rs. 25 crore. It should be based on innovative concept, innovative commercialisation of products and services or it can also be based on innovative production methods and processes.

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