Telangana Demands ‘Re-Evaluation’ of Startup Ranking After Getting Zero (Image Source: Treebo)
FIVE THINGS TO KNOW
* Telangana ranked poorly on States’ Startup Ranking 2019
* Incubation support, seed-funding support and venture funding support scored zero
* Telangana asks Centre for re-evaluation of scores
* Telangana houses incubators like T-Hub, We-Hub and CIE
* Hyderabad is among top start-up hubs in India
Shocked by the latest States’ Startup Ranking has stumped the state of Telengana in which it scored Zero. This comes as a shocker for the state which has garnered appreciation for its work in Hyderabad, developing the city as the startup capital. Not believing the score, the state has now registered its protest with the central government and has asked it to re-evaluate its score.
Ever since the TRS govt came to power in 2014, it has continuously showcased its focus on industry and of course, creating a robust infrastructure mechanism in the state. Therefore, it came as an utter shock when the state scored three zeroes in the States’ Startup Ranking 2019 — a zero for incubation support, seed funding support and venture funding support. Other parameters like Awareness and outreach and institutional support were also scored minimally in the report. The state has asked for its scores to be re-evaluated.
The incubation support in the state was shockingly given a zero by the annual report while the state has worked hard to set up several start-up incubators in the last 6-years. The incubators includes T-Hub which houses more than 200 startups, and the women-entrepreneur-focused WE-Hub and CIE. These centres have attracted global companies like Facebook, Intel, Microsoft and Uber to Hyderabad.
Telangana’s IT minister KT Rama Rao spent his years in power developing the start-up infrastructure in the state. Hyderabad itself houses more than 3000 start-ups and comes among the top start-up hubs in the country.
Under other parameters, Telangana scored 1% on awareness and outreach, 15% on institutional support, 37% in simplifying regulations and 34% in easing public procurement.
The start-up India campaign being an initiative launched by the government of India to promote and support start-up initiatives in the country, this incident comes as a discouragement to the efforts put in by the state, investors and the start-ups in Telangana. Like a studious student who believes in his/her efforts, the Telangana government has asked the centre for a re-evaluation of its scores in the annual report.