Karnataka tops innovation ranking of states: Niti Aayog

Agencies
October 18, 2019

New Delhi, Oct 18: Karnataka has topped the first-ever innovation ranking of states, followed by Tamil Nadu and Maharasthra, a Niti Aayog sponsored report said on Thursday.

Bihar, Jharkhand and Chhattisgarh, on the other hand, trailed on the list.

The India Innovation Index 2019, developed on the lines of Global Innovation Index (GII), looks into the innovation ecosystem of Indian states and union territories to help policymakers design policies to drive innovation across regions.

The report was released by Niti Aayog Vice Chairman Rajiv Kumar and Chief Executive Officer Amitabh Kant here.

The ranking was done in three categories -- 'Major States', 'North East and Hill States' and 'Union Territories (UTs)/City and Small States'. Sikkim topped in the North-East category, while Delhi was at the top in the UT segment.

Telangana, Haryana, Kerala, Uttar Pradesh, West Bengal, Gujarat and Andhra Pradesh were among the other states that topped the innovation index.

The report, which has captured trends and done deep-drive analyses of various factors that drive innovation at the country, state and pillar levels, envisages to help policymakers and corporates identify some of the issues at a sustainable level in India.

The index has been grouped under two major heads, enablers -- factors that will drive innovation in states and UTs, and performance -- that will measure the actual outcomes in the innovation competitiveness of states.

In terms of attracting investment, the top position was again bagged by Karnataka among major states, followed by Maharashtra, Haryana, Kerala, Tamil Nadu, Gujarat, Telangana, Rajasthan and Uttar Pradesh.

Bihar, Jharkhand and Punjab were the least attractive states for investment.

Among North East and Hill States, Manipur, Arunachal Pradesh and Tripura were the top three states; while among the UTs, Lakshadweep, Delhi and Goa were the top three regions.

"For a country as large as India, the sate of innovation needs to be understood at the regional level for effective policy formulation. A policy just at the national level is not enough. Each state needs to formulate its own policy, based on its unique resources and strengths and which caters to the specific needs," the report said.

Kumar said innovation has always been a driver of change and progress in any economy as it disrupts traditional practices and businesses.

"The first ever India Innovation Index will help create a conducive ecosystem for innovation to flourish across the country. Such an index will not only help to devise their own strategy for fostering an innovation climate, it will also enable them to benchmark their performance with other states," Kumar pointed out.

Amitabh Kant said that India Innovation Index is another initiative that has been launched by the Niti Aayog to analyse and enhance the innovation environment at the state level in India.

"The index will be useful to states and union territories by benchmarking their performance against their peers to understand reasons for differential performance and devise better strategies towards creating an environment that fosters innovation," Kant said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 10,2020

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 8,2020

Bengaluru, Jun 8: The Janata Dal (Secular) on Monday announced that former Prime Minister HD Deve Gowda has decided to contest the forthcoming Rajya Sabha elections.

"Former Prime Minister HD Deve Gowda has decided to contest the Rajya Sabha elections at the request of our party legislators, Congress President Sonia Gandhi and many other leaders of the country. Tomorrow, he will be filing nomination for the election. Thanks to the former PM for agreeing to everyone's consensus," JDS leader HD Kumaraswamy said.

The elections to fill the vacant 18 Rajya Sabha seats from seven states are scheduled to be held on June 19.

Four Rajya Sabha seats are up for grabs in the state, Congress has already nominated senior leader Mallikarjun Kharge as its candidate.

The ruling BJP will field candidates for two seats.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 16,2020

Hassan, Jul 16: In fresh incident of cast killing, a Dalit youth in Alur taluk of Hassan district was shot dead yesterday by the relatives of the girl with whom he was in love. 

The deceased identified as Madhu, a 30-year-old resident of Soppinahalli village. He had taken a 25-year-old girl with him and was planning to marry her after taking her family into confidence.  

The relatives of the girl, who belong to upper caste, claimed that Madhu had kidnapped the daughter of one Ramesh of the same village. The girl's uncle Rupesh had waylaid Madhu when he was on the way to the field and shot at him. 

The body of the deceased as been shifted to a mortuary. The accused Rupesh has gone absconding. Sources said that the family of Ramesh has strongly opposed the inter-caste marriage.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.