In yet another announcement of "Start-up India" initiative promotion, the state Chhattisgarh today launched 'Start-up Chhattisgarh' initiative in Raipur to foster entrepreneurship and promote innovation.

A website www.startupcg.com was also launched for handholding and to support to start-ups in the state.

As part of the initiative, 14 special camps will be set up in Chhattisgarh, which would be used as a platform to present ideas and the best out of them would be selected for incubation, he said.

The state government, under this initiative, has also announced for bootcamps covering all 27 districts of the State. The boot camp would be a State wide campaign to identify potential start-up ideas which can be incubated
and turned into successful business ideas.

"At least 3000 ideas would be collected through these camps and in the first phase, 36 startup units selected of these ideas will be developed in next four months," the CM said.

Moreover, the state government under it startup policy has also offered a major tax relief to the first 36 startups in the state. The tax relief would be a major incentive to attract investment in the state. The number (36) seems to be taken out from the state’s name, which denotes 36 forts (Chhattis garh in Hindi).

Under a slew of sops incorporated in the policy, start-ups would get a subsidy of 75 per cent on term loans up to Rs 70 lakh for six years, fixed capital subsidy of 35-40 per cent up to Rs 3.5 crore, electricity duty exemption for 10 years, stamp duty exemption for land purchase or lease, besides assistance in preparing project report, quality certifications, technical patent costs.

The micro, small and medium enterprises (MSME) startups shall be eligible for 60 percent subsidy on land premium in state-run industrial parks. The units shall be given the facility to self-certify for various state laws.

Just few days back, Bihar had launched its startup policy, and before that Karnataka approved new startup policy with an aim to nurture 26,000 startups in the state. Jharkhand and its adjoining state of UP had already came up with their respective startup policy, in April this year.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.