State Government emphasizes CM Startup Scheme to encourage entrepreneurs

By | March 30, 2020

State Government is laying special emphasis on development of b are availing benefits of Chief Minister Startup Scheme. The Scheme aims to turn the educated youth from job seekers to job creator and to give support to the ‘Startup’ and Innovation Projects in the State and to provide skills to the youth and potential investors to develop entrepreneurship. Besides this, the government is providing the facility of hand-holding and mentorship to innovative enterprises from the initial stage to setting up of the industry.

Emphasis is being laid on the creation of innovative ideas based on agriculture, clean technology, food processing, tourism, biotechnology, etc. Directions have been given under the scheme for setting up of eco-system, which involves setting up of incubator, self-attestation of certificates, exemption from any kind of inspection till three years. In this direction, State government has included ten incubators which are mainly modern education institutes in government sector.

Various incentives are also being provided under the scheme. Livelihood allowance of Rs. 25 thousand per month is being provided to innovative projects. After the implementation of the innovative idea, a subsidy of maximum Rs. 10 lakh is being provided for marketing. For filing of National and International patent for Startup, financial assistance of Rs. two lakh and Rs. 10 lakh was being provided respectively. On the same line, a provision of financial assistance was also available for establishing foundation for trainees of incubator.

Land is being available for setting up of micro and small enterprises in industrial area and ghettos. On purchase of land, the stamp duty is determined at 3 percent only. Exemption was also being given in the registration fees of State Pollution Control Board. Interest subvention was being provided at interest rate of five percent until three years for setting up of startup in micro sector with investment of upto Rs. 25 lakh.

Purchase of 30 percent of total order from such startup has been made mandatory for state government.

Under Annual Entrepreneur Award, the prize amount of Rs. one lakh for the first prize, 75 thousand for second prize and 50 thousand for third prize has been provided to encourage entrepreneurs.

As many as 654 applications have been received so far under this scheme, out of which 334 applications have been sent to incubation centers. So far 97 incubatees were selected by incubation centers.

Total 45 incubatees have completed their incubation. As many as 25 incubatees are commercializing their startups and 44 incubatees are under incubation.

Stay updated with us:

Click here to join our Telegram Channel

Click here to Join our Facebook Group

Leave a Reply

Your email address will not be published. Required fields are marked *

The maximum upload file size: 2 MB. You can upload: image. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop file here