25 incubatees have commercialized their startups
Shimla: Under ambitious CM Startup Scheme, as many as 654 applications have been received so far under this scheme, out of which 334 applications have been sent to incubation centers.
After scrutiny, 97 incubatees were selected by incubation centers. Total of 45 incubatees have completed their incubation.
Finding initial success, as many as 25 incubatees have successfully commercialized their startups and further 44 incubatees are under incubation.
To give a boost to self-employment and make youth job creator, the state government initiated an ambitious Chief Minister Startup Scheme. The government is providing the facility of hand-holding and mentorship to innovative enterprises from the initial stage to setting up of the industry.
Emphasis is being laid on the creation of innovative ideas based on agriculture, clean technology, food processing, tourism, biotechnology etc.
incentives are being provided under the scheme. Livelihood allowance of Rs. 25 thousand per month is being provided to innovative projects. After the implementation of the innovative idea, subsidy of maximum Rs. 10 lakh is being provided for marketing. For filing of National and International patent for Startup, financial assistance of Rs. two lakh and Rs. 10 lakh was being provided respectively.
The land is being available for setting up of micro and small enterprises in the industrial area. On purchase of land, the stamp duty is determined at 3 per cent. The exemption was also being given in the registration fees of the State Pollution Control Board. Interest subvention was being provided at an interest rate of five per cent until three years for setting up of startup in the micro sector with an investment of up to Rs. 25 lakh.
Purchase of 30 per cent of total order from such startup has been made mandatory for state government. The Govt is also encouraging budding entrepreneur and honouring them under Annual Entrepreneur Award.