Udyamee Reporter, Ahmedabad:
The Gujarat government’s proactive and sustained efforts have positioned the state as a trailblazer in the Indian startup ecosystem. Gujarat’s success stems from implementing innovative policies and initiatives, resulting in over 12,500 startups being recognized within the state as of December 2024. Its impressive performance is further underscored by winning the “Best Performer” award in the State Startup Rankings for four consecutive years.
Key factors contributing to this success include:
Strategic Initiatives and Financial Support
- Gujarat Young Entrepreneurs Venture Fund: With an allocation of Rs. 350 crore, this fund empowers budding entrepreneurs by providing financial assistance to foster innovation and self-reliance.
- iCreate and i-Hub: The state has established pioneering platforms such as iCreate (Innovation, Creativity, and Entrepreneurship) and i-Hub to nurture startups.
- iCreate has financially supported 553 startups and manages an Angel Fund of Rs. 100 crore.
- i-Hub, inaugurated in 2023 with an investment of over Rs. 60 crore, has registered 700 startups and facilitated financial disbursements of Rs. 10 crore.
Sectoral Focus and Economic Impact
Startups in Gujarat operate in top sectors such as healthcare and life sciences (1,343 startups), IT services (1,186 startups), and agriculture (819 startups). This sectoral diversity reflects the state’s adaptability and responsiveness to emerging industries. Ahmedabad leads with 5,269 startups, followed by Surat, Vadodara, Rajkot, and Gandhinagar.
National and Global Recognition
The “Startup India” initiative, launched by Prime Minister Narendra Modi in 2016, has significantly bolstered Gujarat’s efforts. The state received the “Prime Minister Award for Excellence in Public Administration” in 2017 and has consistently maintained its leadership position in the national startup rankings.
Ecosystem Building
Under the guidance of Chief Minister Bhupendra Patel and Industries Minister Balwantsingh Rajput, Gujarat has fostered a supportive ecosystem involving nodal institutions, incubators, accelerators, mentors, investors, and government agencies. The collaborative efforts of these stakeholders have made Gujarat a major contributor to India’s startup growth.
National and Global Impact
India, now the third-largest startup ecosystem globally, boasts 118 unicorns and over 1.5 lakh startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). Gujarat’s robust contribution to this growth cements its status as a leading state driving innovation and economic empowerment.
By leveraging a combination of financial incentives, infrastructural development, and sector-specific focus, Gujarat continues to serve as a model for other states aspiring to replicate its success in the startup domain.
