Gandhinagar, June 12 (IANS) As the Narendra Modi government completes 12 years at the helm in the Centre, Gujarat’s success story is also hogging the headlines because of its fast-emerging start-up ecosystem. The Western state, ruled by the BJP for over decades now, has led the nation in shaping the growth trajectory of the Start-up India mission, an initiative that remains a key hallmark of the Modi government.
Gujarat has made remarkable progress in the field of start-ups and innovation during this period. The state has emerged as one of the country's leading startup hubs, strengthening its position as a hub of industrial development.
Months ago, Gujarat bagged top honours at the national start-up rankings event and was named the best performing state in Startup India Rankings for the fifth consecutive year.
Today, Gujarat is home to more than 19,000 startups, recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). The achievement reflects the state's strong and inclusive startup ecosystem, built through supportive policies, innovation-driven initiatives and sustained efforts to nurture entrepreneurship.
To encourage youth entrepreneurship and nurture innovation, the state government also launched the Student Startup and Innovation Policy (SSIP) in 2017-18 for a period of five years. Following its success, the Student Startup and Innovation Policy (SSIP) 2.0 was introduced in 2022 under the leadership of Chief Minister Bhupendra Patel. The policy promotes startups across traditional sectors as well as emerging and new-age technologies.
A total of 3,287 startups have been provided guidance and incubation support under the policy. SSIP grantee institutions have also utilised Rs 36.43 crore for financial assistance to startups and innovations. Since the launch of SSIP, more than 22.72 lakh students have been encouraged to explore entrepreneurship through startup awareness initiatives.
Additionally, 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. SSIP is fostering a strong culture of innovation in Gujarat by providing students, from school to higher education, with guidance, mentorship, financial assistance and market-connectivity support.
The Gujarat Startup and Innovation Hub (i-Hub), formed under the Student Start-up and Innovation Policy (SSIP), has become the hub of the state's innovation ecosystem. As Gujarat's largest innovation and entrepreneurship facility, it provides startups with legal, financial, technical and strategic guidance through a single-window support system. i-Hub supports startups at the pre-incubation, incubation and acceleration stages, helping meet their ideation, product development and investment requirements.
i-Hub was established in 2019, and since then, around 750 startups have received mentorship, incubation support and financial assistance through i-Hub. Under the Startup Creation Seed Support Scheme, more than 400 startups have received support worth Rs 28 crore. These startups have generated over 4,000 jobs, while their combined market valuation has reached approximately Rs 3,569 crore.
i-Hub has also facilitated over Rs 446 crore in private funding through various venture funds. Through its hub-and-spoke model across more than 20 districts, it has further promoted entrepreneurship and innovation awareness among over 4.5 lakh youths.
--IANS
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