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Vijay C Roy
Chandigarh, November 15
After approval from the state Cupboard, the Business Division will take a name on whether or not to introduce the startup coverage as a separate coverage or as part of the brand new Industrial Coverage.
Aiming to spice up and nurture the colourful startup ecosystem within the state, the proposed coverage is more likely to be launched by the year-end.
The sooner startup coverage was part of the Industrial and Enterprise Improvement Coverage, 2017, which lapsed final month. It’s value noting that after finding out startup insurance policies of varied states akin to Karnataka, Telangana and Kerala, the Business Division has included many finest practices within the coverage to observe a proactive strategy to facilitate ease of doing enterprise for startups within the state.
In keeping with the draft coverage, the eligible startups shall be offered an curiosity subsidy of 8 per cent each year for a interval of 5 years on the speed of curiosity paid on loans obtained from scheduled banks or monetary establishments. Additionally seed grant as much as Rs 3 lakh per startup shall be offered for validation of concept, prototype growth, help in direction of travelling prices and finishing up area or market analysis. Additional, reimbursement of 25 per cent of lease rental subsidy to eligible startup items established within the state, working from incubators, IT parks, industrial clusters or another notified location shall be eligible for a interval of 1 yr.
Additional, the state intends to help cluster particular backside up strategy to construct and strengthen startup and entrepreneurship ecosystem within the state.
As well as, it could additionally handhold girls who’ve enterprise concepts and have an interest to start out their enterprise ventures. The state will present particular schemes to advertise girls entrepreneurship. At the moment, over 400 startups from the state are registered with Begin-Up India-Division of Promotion of Business & Inner Commerce and Begin-Up Punjab.
Salient options
- An curiosity subsidy of 8% each year for 5 years on the speed of curiosity paid on loans from scheduled banks or monetary establishments
- Seed grant as much as Rs 3 lakh per startup shall be offered for validation of concept, prototype growth, help in direction of travelling prices and finishing up analysis
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