Haryana to emerge an innovation hub on back of Cabinet approved start-up policy

The approved draft policy aims to rope-in Rs 1500 crore for incubation of 500 start-ups; Will facilitate at least Rs 200 crore worth venture capital

Haryana to emerge an innovation hub on back of Cabinet approved start-up policyChief Minister Manohar Lal Khattar -led Haryana Cabinet has approved a start-up policy on September 13 to align the state with Centre’s ambitious Startup India programme and develop the region as an innovation hub on the back of new-age entrepreneurs, according an official press release.

The policy envisions attracting investments to the tune of Rs 1,500 crore in the incubation and start-up ecosystem in Haryana, facilitating venture capital funding of a minimum of Rs 200 crore and encouraging, facilitating and incubating at least 500 start-ups, the release states.

“This is to be done by creating a sustainable ecosystem of innovation, research and development and engineering in the state, aligning Haryana with the ‘Start-up India’, a flagship initiative of the central government, enhancing industry- academia collaboration and linking universities, research institutions and the business community and promoting businesses that are aligned with the region’s unique areas of opportunity,” read the release.

The policy further proposes to establish a start-up hub in Gurugram and at least 22 technology, business incubators or accelerators, one in each district, covering the various sector as mapped with the resource strength of the region. It is proposed to develop incubation space of one million square feet across the state.

Under the approved draft policy, a start-up (as per the definition of DIPP) will be eligible if the company or entity is registered in Haryana under the Haryana Shops and Commercial Establishment Act, 1958 and employs at least 50 per cent of its total qualified workforce in the state itself.

Swastika Tripathi

Two words - Aspirant Storyteller!

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