Today: Jul 22, 2024

Southern states dominate top five in Startup Awards performance ranking.

6 months ago

TLDR:

  • Southern states Karnataka, Kerala, and Tamil Nadu were among the top performers at the National Startup Day and received recognition at the annual startup awards for 2022.
  • These states were commended for their efforts in fostering a robust startup ecosystem, innovation, and capacity building.
  • The recognition highlights the potential for these states to become knowledge economies and hubs for technology and innovation.

Three southern states in India have been recognized for their performance in the startup ecosystem. Karnataka, Kerala, and Tamil Nadu were among the top performers at the National Startup Day and received recognition at the annual startup awards for 2022. These states were commended for their efforts in fostering a robust startup ecosystem, innovation, capacity building, and supporting women entrepreneurs.

Kerala Chief Minister Pinarayi Vijayan described this as the “proudest moment” for the state and credited it to the government’s unwavering commitment to the startup ecosystem. He highlighted the series of initiatives implemented by the state’s startup mission, which have propelled Kerala’s prospects of becoming a knowledge economy.

Karnataka’s IT/BT Minister Priyank Kharge emphasized the collaborative efforts of various stakeholders in the state’s startup ecosystem. He highlighted Karnataka’s leadership in capacity building, incubation, mentorship, innovation, and institutional integration. Kharge also emphasized the state’s commitment to empowering youth and supporting women entrepreneurs.

Kerala’s Industries Minister P Rajeev acknowledged the recognition as an opportunity for the state to build on its strengths and scale up in the startup space. He highlighted the cutting-edge solutions developed by Kerala’s startups, including in emerging areas such as AI and robotics.

Tamil Nadu Startup and Innovation Mission director Shivaraja Ramanathan hailed the state government’s achievements in elevating Tamil Nadu from the last band to the first band in startup rankings within two-and-a-half years. He described it as a remarkable achievement for the state.

The recognition received by these southern states highlights their potential to become knowledge economies and hubs for technology and innovation. It also demonstrates the success of their initiatives in creating a conducive ecosystem for startups to thrive.

However, fintech firm Zerodha founder Nithin Kamath pointed out that the Indian startup ecosystem still faces challenges in retaining wealth within the country. He highlighted that a significant portion of startup investments comes from foreign venture capitalists, leading to the majority of wealth being generated outside of India. Kamath emphasized the need for inclusive prosperity and generating wealth within India from its own resources.