Policies framed by Chief Minister, financial assistance, subsidies to incubators and Institutional support from iCreate help
Gandhinagar, Tuesday: Even as India becomes the third largest Start-up nation in the world in 2018-19, Gujarat alone corners 43 per cent share of the 150 funded Start-ups in operating in India in 2018-19, as per a study by India’s prestigious NASSCOM.
Out of nearly 9,000 start-ups set up in India between 2014 and 2019, Gujarat accounts for 1,500 registered start-ups and 222 funded start-ups.
Gujarat achieved this status owing to Chief Minister Vijay Rupani in a first introducing innovative start-up policy to encourage talented entrepreneurs from university level itself, to let them set up units here extending financial assistance, online application with monitoring and tracking facilities and developing a start-up eco-system.
As per the state’s policy, incubators are extended raw material and research materials worth Rs.10-lakh, up to 50 per cent subsidy, guidance assistance up to Rs. 5-lakh, concession in power tariff and electricity duty. Gujarat has extended assistance worth Rs.140-crore to start-ups till 2016, providing employment to 4,000 people.
One of the prime reasons is setting up iCreate as a centre of excellence by Prime Minister Narendra Modi in collaboration with Israel. Acknowledging India’s potentials, the next BIMSTEC Start-up Convention will be held in India. It is a group of Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal and Bhutan.