Odisha Startup Policy a dream comes true.
Odisha aims to emerge amongst the top 3 “Startup Hubs” in India by 2020.
This startup policy would provide incentives and exemptions over and above the Startup policy of Government of India and any other existing policy in the State (Well that’s a good sign!). The Odisha Startup policy will remain in operation for a period of five years from the date of its notification or until substituted by another policy, whichever is earlier
What is the mission behind this Startup policy?
- Odisha to become one of the top three Startup destinations in the country
- Fiscal and non-fiscal benefits to startups in a transparent and time bound manner
- Startup friendly Rules, regulations and legislations.
- Robust governance structure that enables hassle-free, time bound statutory clearances and monitoring of this policy
- Ecosystem: Which means: Creation of world class physical infrastructure to support Startups; Promoting the culture of innovation through Academic Interventions; Institutionalizing the culture of entrepreneurship by providing training for the requisite Skills
What are the Funding and Incentives covered in the policy?
- Startup Capital Infrastructure Fund:
A Startup Capital Infrastructure fund with an initial corpus of Rs. 25 core will be setup to support development of hard and soft infrastructure for the start up ecosystem in the State such as physical infrastructure for incubators including testing labs, design studio, tool rooms, virtual incubators etc.
- Assistance at Idea or Prototype Stage:
- Institution or Incubator or Industry will be supporting the innovator by providing mentor services and would allow the innovator to use facilities available with them.
- 10,000 per month will be provided to the innovator as sustenance allowance for one year whose project is certified by the Nodal Agency.
- Assistance of Rs. 5 lakhs shall be provided to the institution or Incubator or Industry for mentoring service towards each certified Startup
Read the complete article: goo.gl/g6NRx8
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