Guj eyes 2,000 start-ups, $1 bn investment: To come up with a policy for technology start-ups in 15 days

Ahmedabad: Gujarat is eyeing 2,000 technology start-ups, $1 billion in investments and 100 incubators in five year, said a top state official. The state will soon come up with a policy to encourage technology start-ups. The government is viewing these start-ups as job creators on a massive scale, thereby contributing to local economy.

Talking to media personnel here on Friday at the sidelines of a Start-up Summit organised by Internet and Mobile Association of India (IAMAI) and Google, Dhananjay Dwivedi, principal secretary, department of science and technology said the state government will declare the policy in about 15-20 days.

Likely incentives to these start-ups include 100% reimbursement of stamp duty and registration fee, lease rental subsidy, interest subsidy of 9% with an annual limit of Rs2 lakh, patent assistance of up to Rs5 lakh, Rs20,000 bandwidth subsidy for two years, HR skilling grant of Rs1 lakh per annum and matching funds from GVFL within six months.

Likely incentives to incubators include 50% of Gross Fix Capital Investment with a ceiling of Rs50 lakh, mentoring assistance of Rs5 lakh per annum, sustenance assistance of up to Rs1 crore per annum, 50% software cost up to a limit of Rs1 crore, 100% reimbursement of stamp duty and registration fee, power subsidy of Rs1 per unit and 100% reimbursement of electricity duty paid over a period of five years.

The government wants local start-ups to scale globally. The policy is necessary as Gujarat is lags far behind other start-up hubs in the country. The modern start-up ecosystem is led by Bengaluru, followed by NCR, Chennai, Pune, Mumbai, Kolkata and Ahmedabad.

Courtesy :DNA

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