• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, July 11, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Gujarat Govt. Unveils New Policy For IT Startups; To Infuse INR 7000 Cr.In Next Five Years

by Bhagya P
June 6, 2016
in News
Reading Time: 2 mins read
0
Gujarat Govt. Unveils New Policy For IT Startups; To Infuse INR 7000 Cr.In Next Five Years
TwitterWhatsappLinkedin

Odisha-startup

You might also like

Elon Musk’s xAI Unleashes Grok 4 and Unveils Premium $300/Month SuperGrok Heavy Subscription

Intel Embarks on Major Restructuring, Over 500 Employees Impacted in Initial Layoffs

OpenAI Plays ‘UNO Reverse,’ Poaches Top AI Talent from Meta and Other Rivals

June 06, 2016:  In order to promote 2000 new ventures in the next five years in the state,  the Gujarat government has announced its first ever IT and Electronics startup policy. As said by Gujarat Chief Minister Anandiben Patel, under this policy, 50 incubators will be developed to mentor and guide these startups.

The selected startups will be provided with financial assistance of up toINR 2 lakh and INR 5 lakh, for obtaining national and international patents, respectively. They will also get power tariff subsidy of INR 1 per unit along with 50% of electricity duty back for five years.

Other incentives will include up to 25% equity-linked financial assistance in fund taken for venture capital fund, INR 15 per square feet per employee lease rental assistance, 100% discount on stamp duty, registration fee, product development and marketing assistance, and some other incentives up to 7 years.

Patel said, “Our aim is to attract an investment of INR 7,000 crore through this policy for startups. The Gujarat government will allot around 10 lakh sq feet of land for development of 50 incubators, along with 50 per cent capital investment assistance, in the limit of Rs 50 lakh, for setting up an incubator.”

The startups registered in Gujarat will get 5-10 per cent work in Gujarat government’s E-Governance Project major work of which is being given to capable firms.

As per the policy, state government will provide 50% assistance for software procurement to these incubators like the existing ones already set up by premier educational institutes  like the Indian Institute of Management Ahmedabad (IIMA), Gujarat Technological University (GTU), Entrepreneurship Development Institute (EDI), IIT-Gandhinagar, National Institute of Design (NID), etc. , for upto INR 1 crore. They will also be given INR 5 lakh each year as mentoring assistance, along with 100% waiver on stamp duty and registration and a rebate of 100% on amount of electricity duty for five years.

Image Source:theinsightsout.com

Also Read:  UP Government To Further Back The Startup Sector; Reveals New Incentive Plan To Motivate Young Entrepreneurs

Women Entrepreneurship – Steps Taken By The Government To Promote Women Entrepreneurs !

 

Tags: ecommerceIITIndiastartup policystartups
Tweet54SendShare15
Previous Post

Flipkart Modifies Return Policy For Top-Selling Products

Next Post

Yepme Eyes 400 Offline Stores By Fiscal End

Bhagya P

Recommended For You

Elon Musk’s xAI Unleashes Grok 4 and Unveils Premium $300/Month SuperGrok Heavy Subscription

by Anochie Esther
July 11, 2025
0
xAI

Elon Musk's artificial intelligence company, xAI, made a significant splash on Wednesday, July 9, 2025, with the simultaneous release of its latest flagship AI model, Grok 4, and...

Read more

Intel Embarks on Major Restructuring, Over 500 Employees Impacted in Initial Layoffs

by Anochie Esther
July 11, 2025
0
Intel

Intel, the venerable semiconductor giant, is undergoing a significant and painful restructuring effort, which includes substantial workforce reductions. While the company has not publicly disclosed the precise total...

Read more

OpenAI Plays ‘UNO Reverse,’ Poaches Top AI Talent from Meta and Other Rivals

by Anochie Esther
July 11, 2025
0
OpenAI

In a strategic move signaling a heating up of the AI talent war, OpenAI, the creator of ChatGPT, has reportedly begun poaching high-profile engineers from rival companies, including...

Read more
Next Post
Shah Rukh Khan introduces Yepme’s new #freshfashion collection in the brand’s new TV commercial

Yepme Eyes 400 Offline Stores By Fiscal End

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?