Before finalising start-up policy, Chandigarh to set up innovation council

During discussions, it was decided that collaboration between various government departments and the Department of Industries, UT, Chandigarh, will enhance the incubator ecosystem in Chandigarh. “And this initiative will provide early-stage start-ups with a wide range of resources and services, including physical infrastructure, capital, mentoring, networking, and essential services like legal and corporate support, all essential for developing scalable business models and bringing innovative solutions to the market,” the UT said.

Under the proposed start-up policy draft, the UT Administration intends to establish a distinct legal entity, preferrably a Section 8 company under the Companies Act 2013 for implementing and executing the policy. Modalities regarding this set-up will be explored in coordination with relevant ministries of the Government of India.

This meeting was presided over by UT Adviser Dharam Pal.

Presentation of a draft proposal for the start-up policy was made by the Department of Industries, UT, Chandigarh.

The proposed policy is structured around four core pillars: ecosystem mobilisation; mentorship and linkages; funding support and incentives; and academic interventions. The focus was on developing a robust support infrastructure, including incubators, co-working spaces, and mentorship programmes, to nurture soft skills and innovation in emerging start-ups.

Furthermore, the meeting highlighted the importance of strengthening existing incubators within technical education institutes in Chandigarh, emphasising innovation, research, and entrepreneurship.

To ensure adaptability in the ever-evolving start-up landscape, it was decided that the policy’s tenure would be set at five years from the date of notification, with annual revisions.

“The meeting was a pivotal moment in Chandigarh’s journey towards becoming a thriving hub for innovation, start-ups, and entrepreneurial excellence. The progressive initiatives discussed will provide fertile ground for visionary individuals and businesses to flourish and make a lasting impact on the region’s economic and social landscape,” the UT said in the statement.

Start-up policy hanging fire for the last 5 years

It was in 2018 that Chandigarh began drafting the start-up policy — two years after Prime Minister Narendra Modi unveiled the Startup India policy. While unveiling the policy, the PM had directed UTs and states to frame their own policies which are designed as per the needs of the entrepreneurs in their regions.

However, Chandigarh had missed several deadlines since then. Experts believe that “Chandigarh’s loss is Punjab and Haryana’s gain” and it is “high time that Chandigarh implemented its start-up policy”.