startup policy: State To Provide ₹ 15 Lakh Financial Aid For Startups | Indore News

Indore: Unveiling the curtain raiser of Madhya Pradesh Startup Policy, MSME Minister Omprakash Saklecha on Monday said that the recognized business ideas will be provided financial assistance of up to Rs 15 lakh for four times in its incubation period along with grant for rent and salary of the staff.
“Prime Minister Narendra Modi, in a program to be organized in Indore on May 13, will virtually launch MP Startup Policy while chief minister Shivraj Singh Chouhan will mark his presence as special guest,” Saklecha said, adding that MP Startup Policy, which has been formed within three-months of the Prime Minister’s declaring January 16 as National Startup Day, aims to provide alternate fields for the investors to invest in and they should not be remain strict only to gold and real estate while the startups should also get all the resources. and opportunities.
“The detailed policy has been prepared after discussion and based on suggestions of all the stakeholders” he said, adding on the launching, funds will be raised for many new startups, while Indore will be made the state’s headquarter while a Startup Hub will be developed. in 22 acres of land on the Economic Corridor.
According to the MSME Minister, efforts will also be made for matchmaking of business ideas of young entrepreneurs and resources of others further to boost the country’s economy. “We are aiming to give around 10-folds growth to sustainable startup ideas this year” he said, adding that the investors will themselves assess the risk-factor involved in the success of any business idea while the state government will not promote any individual startup. “MP Startup Policy will have new features, which were earlier not available for nurturing of new business ideas” MSME Commissioner P Narahari said, adding that Startups, which have already managed to attract some investment, should be recognized and to be registered at the central government Startup India Portal, will be provided additional support by MP Government as the policy will help in developing such an ecosystem.
He claimed in a relative comparison of startup policies of other states, a better policy has been prepared for Madhya Pradesh for Startups to grow by providing highest financial assistance. “We are also working to make available venture capital for business ideas, in which the state government will be partner,” he said.


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