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Gujarat: Rs 22 crore aid to 175 startups in two years, says Govt

In the Electronic & IT/ITES Start-up Policy (2016-21), the state government had set a target to facilitate establishment of about 2,000 startup firms during the five-year period.

By: Express News Service | Ahmedabad | Updated: July 19, 2018 9:43:55 am
Gujarat, Gujarat governemnt, Vijay Rupani, Gujarat companies, Gujarat startups, Gujarat jobs, India news Currently there are about 35 incubators in Gujarat against a target of 50 set under the 2016 policy.  (In Picture: Gujarat CM Vijay Rupani)

The state government has in two years provided Rs 22 crore as financial assistance to 175 startups in the state. It had set a target of facilitating 2,000 startups by 2021.

“We have disbursed Rs 22 crore to 175 startups in Gujarat,” said M K Das, Principal Secretary to the Chief Minister. He was giving details of the ‘Vibrant Gujarat: Start-up and Technology Summit 2018’, which will be held on October 11-13 to project the “start-up revolution in the state”.

In the Electronic & IT/ITES Start-up Policy (2016-21), the state government had set a target to facilitate establishment of about 2,000 startup firms during the five-year period. When asked if 175 startups was too small a number, Das said, “These are the ones that the state government is funding. Several others have received private funding.” Gujarat stood third after Karnataka and Delhi in nurturing startups, he added.

According to Sunil Parekh, chairman of the startup committee of FICCI, apart from the 175 government-funded startups there are 26 startups in the state. “These startups have been funded by HNIs (high net-worth individuals),” he said.

Currently there are about 35 incubators in Gujarat against a target of 50 set under the 2016 policy. Apart from incentives offered under this policy, the state also has a Gujarat Startup/Innovation Scheme 2015 and Student Startup and Innovation Policy 2017.

Earlier, while speaking about the proposed startup event that will kickstart the Vibrant Gujarat 2019 campaign, Das said, “The startup ecosystem is getting bigger in Gujarat… We want to change the perception that Gujarat does not figure on the national scene.”

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