A study made by a government agency has revealed that Indian startups have raised $42 billion in funding during 2021 which is an all-time high. This momentum has continued in 2022 with startups raising over $11 billion in the first quarter of 2022.

Karnataka was ranked as the best performer for launching an engineering research and development startup. This is on account of the State government’s policy to attract investments and creating a regulatory ecosystem to enable new enterprises to avail exemption from the State and Municipal laws. The other two States which have a high score are Andhra Pradesh and Bihar.

The study made by the government agency factors in areas like institutional support to startups, incubation support, access to markets, and funding of investments. Three more areas are being added to this framework. These are capacity building of enablers, membership support and fostering innovation and entrepreneurship.

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