Delhi’s Startup Policy

 

Context:

  • To encourage people to start businesses in Delhi by fostering a supportive environment. The government hopes to make Delhi the “world’s startup capital.”

 

About:

  • The government will assemble a task group of 20 individuals to help aspiring entrepreneurs in establishing their enterprises and to decide on startup registration applications.
  • Chartered accountants, lawyers, government officials, academics, and trade representatives will make up the task committee.
  • Education, healthcare, tourism and hospitality, transportation & logistics, automotive, e-governance, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), Software-as-a-Service (SaaS), fintech, e-waste management, robotics & automation, green technology, bio-pharma & medical devices, and information technology are among the key focus areas (IT).

Other Aspects:

  • Startups will receive financial aid from the government in the form of collateral-free loans, rent payments, and employee salaries.
  • For example, the government will cover up to half of the cost of a starting office’s rent.
  • In colleges, the government decided to introduce entrepreneurship classes and the “business blasters” programme.
  • Students at Delhi government-run institutes will also be given 1-2 years off to grow their firms before returning to finish their degree.

Source: THE HINDU.

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