Startup India Innovation Week 2024
Context:
The Department for Promotion of Industry and Internal Trade (DPIIT), recently hosted Startup India Innovation Week 2024 from January 10th to January 18th. This event was a testament to the vibrancy and achievements of the Indian Startup Ecosystem, with a special focus on the National Startup Day scheduled for January 16, 2024.
Relevance:
GS-03 (Economy)
Main Highlights:
- Participants: The week-long celebration aims to bring together a diverse array of stakeholders, including startups, entrepreneurs, investors, policymakers, and industry experts.
- National Startup Day Highlights: As part of the festivities on National Startup Day, the DPIIT will conduct the result declaration and felicitation ceremony for the National Startup Awards 2023. This initiative seeks to recognize and reward exceptional startups and ecosystem enablers. The focus is on entities showcasing innovation in their products or solutions, building scalable enterprises, and exhibiting high potential for employment generation and wealth creation. Moreover, these startups are expected to demonstrate measurable social impact.
- States’ Startup Ranking Framework: Simultaneously, the DPIIT will unveil the outcomes of the 4th edition of the States’ Startup Ranking Framework. This framework serves as a comprehensive evaluation tool for States and Union Territories, gauging their efforts in creating a conducive ecosystem for startup growth.
- Objectives of States’ Startup Ranking: The primary objectives of this ranking exercise are threefold. Firstly, it facilitates States and UTs in identifying, learning, and implementing successful practices. Secondly, it sheds light on the policy interventions made by States and UTs to promote the startup ecosystem. Lastly, the ranking framework fosters healthy competitiveness among states, encouraging continuous improvement in their startup support mechanisms.
