“State wise Policies for Startups in India which will help promote startups in all states “
Influenced by startup action plan by the Government of India, which allows entrepreneurs to easily setup business ventures, the state governments have also taken initiatives to promote startup culture .Many states are now focusing to pave their way for becoming the state with highest number of startups.
Let us have a look at the states which have their own startup policies to boost economic growth and promote startups
West Bengal: West Bengal has framed policies which will be effective until December 2021.It will provide a single platform community to have a smooth and easy ongoing process to launch startups in the state. The state has launched a website by name ‘startupbengal.in’ for stakeholders, investors, service providers to boost startup platform. The state will invest a huge sum amount of 1500 million.
Uttar Pradesh: The state has decided to focus mainly on IT startups. The government is going to set up IT parks. To focus on bringing success to the ideas framed, they have invested to provide world class facilities across the state. The plan will be effective for at the least 5 years. In Uttar Pradesh, the IT industry has recently invited inputs from industry bodies for formulating its own startup policy
Odisha: Odisha has focused goals on investment aspects. The government has a vision to be one of the top three investment destinations in India. The policies framed definitely are highly capable to promote startups as they have been in constant touch with “Make In India” policies. They have focused on employment factor as well and will remain effective for a minimum of 10 years.
Rajasthan: Rajasthan was ahead with the lookout of promoting startups .It had well planned policies back in October last year. They have immensely focussed on setting up 500 startups within 5 years. Since Rajasthan has been effective for a long time in startup policies they are looking to get funds from 5 billion and set up 50 incubators
Gujarat: Gujarat has a very well planned list of frames and policies. They have a threefold strategy for innovators, institutions and government committee. Innovators come up with the idea, which will be facilitated by the institution and then approved and financed by the government committee.
Karnataka: The state is currently focusing to promote new business ventures. Karnataka has set up a 5 year plan with specific goals and targets. They are setting up 25 technology startups, to solve social problems faced by the state. They want to set up 6000 startups entirely focusing on products and 20000 startups just on technology. Karnataka is focusing on promoting new business ventures.
Jharkhand: Jharkhand is the most recent entrant with the policies set up. The government has decided to invest nearly 100 million for promotion, setting up ventures, and moreover for innovation and incubation centers in different part of states. An innovation lab would also set up with the help of IIM