The Gujarat state government is planning to come up with a separate policy for start-ups in the field of electronics, information technology and nano technology. This is indeed very good news as the government it plannijng to give out many incentives also when they release the policy in a couple of weeks time.
It is expected that the proposed policy which is being prepapred by the department of science and technology will target close to 2,000 start-ups over the next five years, and only those will be targetted who has received atlease one round of venture capital (VC) funding.
“Under the policy the government aims to establish 100 incubators in Gujarat and develop one million sq ft of incubation space besides facilitate investment of $1 billion to start-ups through VC funding over next five years,” said Gujarat’s IT, science and technology secretary Dhanajay Dwivedi on the sidelines of a day long `Start-up Summit’ organized by the Internet and Mobile Association of India (IAMAI) and supported by Google.
India has been enouraging start-ups as it wants to encourage young entrepreuners to come up with new initiatives which are not only innovative but also path-breaking.
By Atanu Kumar Das