The Chief Minister (CM) of Punjab, Captain Amarinder Singh, signed a Memorandum of Understanding (MoU) with Department of Industries, STPI, Indian School of Business (ISB) and Punjab Technology University (PTU) yesterday (16/01/2018) to incubate the startups in the state. All of Punjab’s startups will be incubated at Software Technology Parks of India (STPI). This has become India’s largest government-supported Startup Hub. ISB and PTU will act as knowledge partners of the startups.
According to United News of India (UNI), the Chief Minister of Punjab, Captain Amarinder Singh, attended an event on 16/01/2018 in the state’s capital, Mohali, with the theme, ‘Mohali as next big IT hub in the North’. The Chief Minister announced a package of Rs. 100 crores, in collaboration with PTU, to incubate the startups in Punjab, during the event. STPI will allocate 45,000 sq. ft. of its campus area to the Startup Hub and Startup Incubation Centre as a part of the MoU it signed with the Government of Punjab. This announcement and signing of MoU by Captain Amarinder Singh is part of the Government of Punjab’s policy to promote startups and entrepreneurship in the state.
Ever since the ‘Startup India Stand up India’ scheme was launched by PM Modi in 2015, a number of Indian states like Karnataka, Seemandhra, Telangana, Kashmir, Kerala, Odisha, Bihar, Rajasthan, Delhi, etcetera have launched their own schemes to promote entrepreneurship in their state. This MoU signed by Captain Amarinder Singh falls in line with that trend. India is a land of youthful talent. There are many talented and hardworking youth in India who have started a business of their own and whose startups provide essential products or services to the society. If all the remaining states in India take cue from the above-mentioned states and launch schemes to fund, incubate and promote startups in their state, the startups in India will become MNCs and make India proud in the global stage.