Maharashtra's Start-Up Policy

The Maharashtra government is coming up with a start-up policy of its own. Chief minister Devendra Fadnavis has stressed that he wants Maharashtra to be the start-up capital of the country , and officials said the policy hopes to bring in more investment.
Many sops are being included in the policy , which is being drafted, to attract entrepreneurs. A venture capital fund will be set up, there will be concessions in labour regulations, environmental norms will be relaxed, making the process of allotting licences easier, and the number of licences will be reduced.
Officials said most features in Maharashtra's startup policy will be on the lines of the central government's policy . As part of the policy, the state government will offer concessions to start-ups.The state-run Small Industries Development Bank of India (Sidbi) and state government have set up a Rs.200-crore venture capital fund to provide easy financing options to micro, small and medium entrepreneurs, who generally find it difficult to get funding.
The government also plans to have 2% reservation of space in IT parks for incubator firms. “We are trying to make available office space to the start-ups as this is one of the concerns that have been brought to our notice by industry experts,“ said an official. Officials said they are working out concessions in labour laws too. The central government has proposed to relax nine labour laws, which the state government too will do. “We are working on reducing the number of licences required to set up business, including relaxation in environment norms and permission,“ the official said.
Though Mumbai is the commercial capital of the country , it's start-up ecosystem is ranked third by Nasscom in its latest report, `Start-up India: The Momentous Rise of the Indian Start-up Ecosystem'. While Bengaluru tops the Nasscom index, the National Capital Region (NCR) takes second position.Chennai is first, while Pune is in second position among emerging cities.

No comments: