Cabinet approves Madhya Pradesh start-up policy

क्षमा करें, यह समाचार आपके अनुरोध की भाषा में उपलब्ध नहीं है। कृपया यहाँ देखें।

Madhya Pradesh has now become a state that formulates and implements its own start-up policy. In line with Prime Minister Shri Narendra Modi’s vision of expanding manufacturing product start-ups, the start-up policy has been implemented by incorporating the resources of Madhya Pradesh in the policy. The new start-up policy was approved in the meeting of the Cabinet held under the chairmanship of Chief Minister Shri Shivraj Singh Chouhan on Friday.

Secretary MSME and Commissioner Industries Shri P. Narhari informed that the MP Start-up Policy and Implementation Plan 2022 cum process and guidelines has been approved by the Cabinet for the promotion of start-ups and innovations in the state. Provision has been made in the policy, for financial, non-financial facilities and assistance and facilitation to start-ups and incubators.

Shri Narhari said that the key provisions of the policy include investment assistance, programme planning assistance, lease rental assistance, assistance for expansion, patent assistance etc. to start-ups and incubators for the development of the start-up ecosystem. According to the vision of the Prime Minister in the policy, for increasing the number of product based start-ups, special facilities like employment generation and skill development assistance, exemption in electricity duty and concession in rates etc. will be provided to them.

The new policy also includes additional 20 percent assistance to start-ups set up by women and special programmess to inculcate the spirit of innovation and start-up among students from school, college level. Entrepreneurship development has been actively included in the academic curriculum, to encourage internships to attract students towards entrepreneurship.

Along with efforts to solve the socio-economic problems of the state through the innovation challenge program in the policy, a special incentive assistance of Rs one crore will be given to selected start-ups and innovators. Apart from this, there is a provision to set up a separate start-up center in Bhopal with a team of experts like finance and project management, marketing and legal matters for facilitation of start-ups and providing assistance under policy.

The policy also includes achieving high growth rate in Government of India recognized start-ups, special focus for development of start-ups in agriculture and food sector, setting up of new incubation centers and capacity building in existing incubation centres. Provision for cooperation in marketing and branding of start-ups to establish them at international and national level has also been included in the policy.

In order to make the policy effective, Madhya Pradesh Venture Finance Limited and Madhya Pradesh Venture Finance Trustee Limited have been merged with Madhya Pradesh Laghu Udyog Nigam, so that a specific Venture Capital Fund can be created for funding support to start-ups in future. He said that a robust online portal would be developed for start-ups, which would act as a contact bridge for all concerned stakeholders. The portal will be integrated with the start-up portal of the Government of India. Priority will be given to providing benefits of facilities through the portal. In order to encourage start-ups and innovation and to provide necessary technical and guidance support, they will get necessary support and participation from national and state level technical and management institutions/universities and other academic institutions. Under the Ease of Doing Business, there will also be a system of post-facto approval for the necessary permissions for start-ups and incubators, and approvals. According to the provision in the Madhya Pradesh Public Service Guarantee Act, 2010, valid approval will also be given.