Odisha has earned the prestigious title of a ‘top performer’ in the Startup Ranking, affirming its remarkable strides in fostering a robust startup ecosystem and promoting entrepreneurial initiatives. The Ministry of Commerce and Industry announced the rankings at an event in New Delhi on Tuesday, recognizing Odisha’s exceptional growth and support for budding entrepreneurs.
The comprehensive evaluation covered seven reform areas, spanning 25 action points, including institutional support, innovation, entrepreneurship, market accessibility, incubation support, funding assistance, capacity building, and a roadmap for a sustainable future.
While Gujarat, Karnataka, Kerala, and Tamil Nadu secured the status of ‘best performers,’ Odisha was lauded as a ‘top performer,’ standing alongside Maharashtra, Punjab, Rajasthan, and Telangana in the A category of states. Odisha achieved a perfect score of 100 percentile in the crucial ‘funding support’ reform area, demonstrating the state’s commitment to providing financial backing to startups. Additionally, the state garnered scores of 89 each in institutional support and capacity building, 73 in market access, and 71 in fostering innovation and entrepreneurship.
However, Odisha faced some challenges in the incubation and mentorship support, as well as the roadmap for a sustainable future reform areas, where it scored 44 and 25, respectively. Recognizing these areas for improvement, the Ministry recommended that the Odisha government establish more incubators, foster mentorship networks, conduct cross-mentoring sessions, and offer specific incentives for startups contributing to sustainability, renewable energy, climate change, and the circular economy.
Omkar Rai, the Executive Chairman of Startup Odisha, highlighted the state’s commitment to empowering aspiring entrepreneurs. He mentioned ongoing initiatives, including a new startup policy aligning with global best practices, with a focus on environmental, social, and governance (ESG) factors. Rai emphasized prioritizing women-led entrepreneurship, with the goal of inspiring and supporting promising entrepreneurs on their journey.
Notably, Odisha was among the first states in India to introduce a dedicated startup policy. Startup Odisha has played a pivotal role in supporting and facilitating 1800 startups across diverse sectors, with 42 percent being women-led startups. With 27 incubators in operation, the state aims to foster 5,000 startups by 2025, reinforcing its commitment to entrepreneurial growth and innovation.
Prasanta Patnaik