The Delhi Government recently approved the “Delhi Startup Policy”. The government aims to create business leaders and entrepreneurs from among the youth and make Delhi the “startup destination of the world”.
Salient features of the policy –
- The Delhi government also decided to introduce entrepreneurship classes and the “business blasters” programme in colleges after the successful roll-out of these programmes in schools.
- Business Blasters is the Delhi government’s start-up programme where students of Classes 11 and 12 propose business ideas and the government helps them in giving these pitches a shape.
- The policy will also focus on teaching entrepreneurship to students in Classes IX-XII and giving them seed capital under the government’s existing Business Blasters Programme
- Students working on startups, while studying in Delhi government colleges, will be able to seek up to two years leave to work on their businesses.
- The Delhi government will provide both fiscal and non-fiscal incentives to the youth.
- The fiscal incentives for startups include –
- Reimbursement on lease rentals — 50% or up to ₹5 lakh per annum;
- Reimbursement grants for filing patent up to ₹1 lakh per annum (Indian) and up to ₹3 lakh per annum (international);
- Reimbursement for exhibition stall/rental cost — 100% for women/ underprivileged/ differently abled persons and 50% for others up to ₹5 lakh per annum;
- Monthly allowance towards operational/employee cost of up to ₹30,000 per month for one year;
- Financial grants towards capital and operational expenditures in the establishment; and
- Financial support for procurement of key software up to 50% of the total cost.
- A 20-member task force, comprising government officials and experts from business and trade, will help startups with registration and other activities. It will be headed by Delhi’s Finance Minister.
- The state aims to encourage, facilitate, and support 15,000 startups by 2030 and generate new avenues of employment.