GUJARAT TO SUPPORT 2K IT STARTUPS IN THE NEXT FIVE YEARS

Isn’t it great news that the Gujarat Govt. has decided to support two thousand startups in the coming five years! It’s very supportive of the government to help encourage entrepreneurs grow in the state of Gujrat. This move of the government also shows its involvement to add to growing startup ecosystem of the state. So, hurry up and prepare yourselves to be one amongst the 2k startups and bag yourself financial assistance.

The honorable Chief Minister of Gujarat, Anandiben Patel has announced to support the new emerging ideas from the beginners. She has mentioned about various offers which would help them increase their efficacy in the productivity of their work.

She added saying that she will get 50 incubators developed to help the start-ups enhance themselves with a financial aid around INR 2 lakhs and INR 5 lakhs to obtain national and international patents. The other benefits offered alongside the financial aid include the power tariff subsidy of INR 1 per unit along with 50% electricity duty or five years, 25% equity-linked financial assistance, 100% discount on stamp duty, free registration, product development and marketing assistance for 7 years.

Their aim is to attract an investment of INR 7,000 crore through the policy of start-ups, which includes distribution of around 10 lakh sq feet of land for development of the incubators, along with 50% capital investment assistance for setting up an incubator.

The assurance of the startups getting their work experience with big companies was also promised by the CM, which would help them enhance their technical and professional standards. A fringe benefit of about 5-10% work in Gujarat’s government project work would also be offered to those who register their start-ups in Gujarat.

The incubators set up by various premier educational institutions will be a part of the incubators yet to be developed.

Among others, Telangana is also supporting startups to grow.