Bhopal
Prime Minister Narendra Modi’s vision is to give more and more incentives to the start-up, so that the youth of India will become more job than the jobbers. In realizing the dream of self -reliant India, the government is working forward under the leadership of Chief Minister Dr. Mohan Yadav to give this vision embodied in Madhya Pradesh. Recently, the approval of Madhya Pradesh Start-Up Policy is the result of this. Chief Minister Dr. Yadav has said that GIS-2025 will prove to be a big opportunity to establish the state as a global start-up hub with the formation of a new start-up policy. Young entrepreneurs will get global platform and millions of jobs will be created.
New policy will strengthen start-up eco-system
Chief Minister Dr. Yadav believes that the dynamic start-up eco system will play an important role in the state’s economic progress and employment opportunities for the youth. The new start-up policy of the state will solve the possible challenges faced by start-up entrepreneurs. The main objective of this policy is to double the number of start-ups in the state. Currently, a target has been set to increase the number of active start-ups from 5 thousand to 10 thousand. This will create more than 1.10 lakh employment opportunities.
Seed capital of Rs 100 crore for initial assistance
The biggest challenge for young entrepreneurs of start-ups is to arrange initial capital. The state government is setting up a seed capital fund of Rs 100 crore to remove this obstacle of youth. This fund will provide financial assistance to emerging start-ups in their early stages. With this, they will be able to expand their start-ups as well as face the challenges of expansion.
Mega Incubation Center and Innovation will get a boost
In the new policy, mega incubation centers are being set up in the state. These will help start-ups in the necessary resources, guidance and reaching the global market. Intellectual property security has also been given priority in the new policy. For this, financial assistance of up to Rs 5 lakh for domestic patent and up to Rs 20 lakh for international patent will be provided. This will help innovation of start-ups and stay ahead in global competition.
Entrepreneur-in-resident EIR Program and Skill Development Assistance
Entrepreneur-in-resident EIR program is being implemented to encourage start-ups in the state. In this, the start-ups selected will be given financial assistance of up to Rs 10,000 per month (for maximum one year) for skill development of employees. Also, a grant of up to 13 thousand rupees will be given on each new employee. Start-ups will be able to invest in training and development of human resources.
Renting subsidy and promoting women entrepreneurship
The rent assistance scheme has been implemented under the policy to reduce the operational expenses of start-ups. Start-ups will be provided rent allowance up to 50 percent (maximum Rs 10,000 per month). Along with this, women entrepreneurs will be specially encouraged. According to the new policy, 47% of women-laid start-ups will be given priority in the state.
Start-ups in strategic fields priority
The policy emphasizes on promoting start-ups in the fields of agriculture, food processing, deep tech, biotack and latest technologies. This will develop diverse and strong start-up eco systems in the state, which will help in the economic development of the state.
Start-Up Advisory Council and Online Portal
“Start-up Advisory Council” will be formed to effectively implement the policy and monitor the implementation, which will include experts from different fields. Along with this, a dedicated online portal and help line have also been made for start-ups. With this, they will get information about financial assistance, government schemes and other resources easily.