Startup policy approved by Uttarakhand Cabinet, Rs 15000 allowance in urban area and Rs 20000 in rural area
The Cabinet has approved the Startup Policy for the development of a strong startup ecosystem in the state, employment generation and promotion of wealth-earning opportunities. Under this, the development of 1000 startups including technology driven enterprises will be promoted in the next five years. Recognized startups or student-entrepreneur startups, whose projects are approved by the task force, will be given a monthly allowance of Rs 15,000 per startup and Rs 20,000 per startup for rural impact startups.
A venture fund of Rs 200 crore has also been set up for startups to have easy access to investors. On Wednesday, the cabinet approved the Uttarakhand Startup Policy. Student-entrepreneur start-ups will be encouraged in the policy to promote innovation and entrepreneurship at the school-college level itself.
One-time seed funding of up to Rs 10 lakh will be given to recognized startups. Seed funding of Rs 12.5 lakh will be given to women entrepreneurs and start-ups having SC, ST, Disabled, transgender and rural impact.
An amount of up to one lakh rupees per patent will be given for patenting the innovation and five lakh rupees per patent for international patent. Rs 10,000 per trademark will be reimbursed on filing a trade mark application. A maximum of Rs 1 crore will be given to new incubation centers and Rs 50 lakh for expansion.
