Uttarakhand aims to recognize 1000 startups in next 5 years
New startups will gain momentum in Uttarakhand. A target has been set to create 1000 new startups in the next five years. The state government will become the support of young entrepreneurs to set up these startups. The new startup policy will play an important role in this. Recently the state cabinet has approved the startup policy.
In the first phase, the government has recognized 144 startups. The government also plans to provide a new environment to the youth of the state to make them entrepreneurs. The Central Government has also prepared a plan in its budget to bring forward new start-ups in the agriculture sector. In view of this, the state government has also made provisions in its startup policy.
200 crore venture fund will be formed
To promote startups, the state government will create a venture fund of 200 crores. With this, young entrepreneurs will be able to get funds at the government level to start business on innovative ideas. Till now only venture investors used to provide financial assistance to startups.
Government departments will be able to purchase from startups up to 10 lakhs
The government will not only help in creating startups but will also provide them a market. If a startup company is registered in the Purchase Preference Policy, then government departments can buy directly from that startup up to 10 lakhs. Recognized startups will be given free incubation facility for one year.
Financial assistance on patents
If a start company wants to patent two of its products, then the government will provide financial assistance ranging from Rs one lakh to Rs five lakh. Along with this, an assistance of Rs 10,000 per trademark will be given by the government to get the trade mark for the product of the startup company. In order to get products designed, an arrangement was made to provide assistance of Rs 10,000 in the policy.
