Gujarat set to unveil separate policy for tech-based start-ups:

8The state government is all set to come up with a separate policy for technology driven start-ups in the field of electronics, information technology (IT) and nanotechnology in a couple of weeks. A slew of incentives has also been planned to encourage start-ups in Gujarat.

The proposed policy , being prepared by the department of science and technology, will target more than 2,000 tech-based start-ups over the next five years that have received at least one round of venture capital (VC) funding.

“Under the policy the government aims to establish 100 incubators in Gujarat and develop one million sq ft of incubation space besides facilitate investment of $1 billion to start-ups through VC funding over next five years,“ said Gujarat’s IT, science and technology secretary Dhana jay Dwivedi on the sidelines of a day long `Start-up Summit’ organized by the Internet and Mobile Association of India (IAMAI) and supported by Google here on Friday .

The state government had earlier announced a policy in January 2015 for start-ups with an emphasis on manufacturing and services sector.“The 2015 policy was launched by industries department and is focused on manu facturing sector. This will be a different policy with a specific focus on technology-based start-ups and it will be announced soon,“ Dwivedi explained.

Gujarat government also plans to hold two major summits and a conference later this year to promote the technology-driven start-up policy and other policies. Both these summits and conference will be part of pre-Vibrant Gujarat 2017 events.“A national summit on technologies will be held in second week of August, where over 3,000 start-ups from the state will participate. We will also be calling VCs, incubators and accelerators from across the country and give them a platform to interact,“ he added.Under the existing policy meant for manufacturing start-ups, over 100 start-ups are being provided assistance through 18 incubators and the government is in process of identifying 18 more incubators.

Courtesy : The Times of India

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