Union Minister for Commerce and Industry (Independent Charge) Nirmala Sitharaman said that Kerala, Karnataka, Telangana and Gujarat have established institutional mechanism for the complete process of startups to avail the benefits.   

She cleared that other states too are doing good and there is no intention of the central government ranking the states.

She was speaking to the media on the side-lines of Startup India Conference here in New Delhi.

She further said that success rate of startups is not very high but that’s the nature of the business because lot of ideas are worked out. 

"Lot of ideas get formalised. They can get themselves patented, commercial operations. So the rate of success is beyond the government," she said.

“What can the government do is to give a chance to every idea to reach at some stage which otherwise would have been impossible”, she added

She said that government is committed to give them all the facilitation like tax break, easy funding, venture capital, speedy registration, but the market will determine which of the ideas is going to be commercial success and that off course is something which we cannot predict.

When asked about which startups are doing good, she informed that technology based Startups are doing good but innovation possibilities are seemed to be in medical sector as new groups are coming.

“Startups are taking the agricultural practices towards the innovation”, stated minister. (KNN Bureau)