Gujarat announced New Policy for Start Tech based New StartUps

How to Start a Tech Startup in Gujarat

Anandiben Patel, Chief Minister of Gujarat, declared states new policy to promote IT and electronic start-ups. This was done as a part of Modi’s “Make in India” and “Startup India”. On the occasion of the launch of the new policy, CM said that the policy will be applicable to IT and electronic start-ups. She also said that youth should apply their minds to constructive work instead of engaging in ‘andolans’.

The CM, in a press conference, announced that the policy will bring around Rs 7,000 crore of investment to Gujarat and will also bring lots of employment. 50 new incubators will be set up and will also guide 2000 new startups. For incubators, around 10 lakh square feet of space will be developed. The government also announced incentives for incubators and start-ups.

This included the financial assistance of up to 50 lakh for fixed capital investment and up to 5 lakh per annum for the guidance of start-ups. Under the policy, 100 percent waiver on stamp duty and registration will be given. 100 percent amount of electricity duty for five years and 50 percent assistance for software purchase up to 1 crore to incubators will also be given. Rs 2 lakh and Rs 5 lakh will be given for obtaining national and international assistance.

Under the new policy, 50 incubators would be set up in the state. This will include incubators that have been already set up by some educational institutes like Entrepreneurship Development Institute (EDI), IIT-Gandhinagar, National Institute of Design (NID) etc. the Indian Institute of Management Ahmedabad (IIMA), Gujarat Technological University (GTU) etc.

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According to the new policy, the start-ups registered in Gujarat will get 5 to 10 percent of work in Gujarat government’s E-Governance project work. Due to this policy, the new startups will start getting work and will also get a chance to work with big companies. This will improve new start-ups skills and standards.

The government of Gujarat will also hold two summits and conference to promote technology-driven start-ups policy and other policies, later this year. Dhananjay Dwivedi, secretary of IT, Science and Technology said “A national summit on technologies will be held in the second week of August this year in which over 3,000 startups from the state will participate. We will also be calling VCs, incubators and accelerators from around the country and give them a platform to interact”.

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