In line with PM Narendra Modi’s ‘Startup India, Standup India’ initiative, several states have launched their Startup Policy in the last two years. Odisha is the new rising star among these governments. Afterannouncing its startup policy in August 2016, the government has now launched a web portal for startups.
the portal aims at “promoting ease of doing business for budding entrepreneurs and creating an ecosystem for startups in the state.”
Furthermore, MSME secretary LN Gupta stated that the portal will help connect startups with angel investors and incubators and will upload all revised provisions of Odisha startup policy. There are also plans to introduce an online learning program for entrepreneurs through the web portal.
The portal was to be launched today. However, Inc42 could not ascertain the new website link at the time of publication.
The Odisha startup policy was aimed to set up 1,000 startups in the next five years for which the state’s MSMEs were to provide a Seed fund of $3.7 Mn (INR 25 Cr). In August 2016, CM Naveen Patnaik met over 60 companies and received an investment commitment of $13.5 Bn (INR 90,490 Cr) as state investments for improving the entrepreneurial ecosystem.
Till date, they have identified about 225 startups and over 24 incubators in the state.
Earlier in March 2017, Odisha Government launched the Startup Odisha Toll-Free Helpline 1800-345-7100, aimed for startup stakeholders to have a platform for redressal of their queries related to startups. At the same time, an MoU was also signed between Deepak Bagela CEO & MD Invest India and Principal Secretary MSME LN Gupta to set up 1,000 startups in Odisha by 2020.
Odisha joins a long line of states who are proactive and receptive to homegrown startups.
In June 2016, the Gujarat government announced its IT and electronics startup policy to promote 2,000 new ventures in the next five years in the state. Under this policy, 50 incubators were proposed to be developed to mentor and guide the startups. In January this year, Gujarat introduced India’s first Student Startup and Innovation Policy. As part of the initiative, a State Innovation Fund with a corpus of $29.3 Mn (INR 200 Cr) will be provided to the students during the next five years.
The Bihar Government cleared the launch of the state’s startup policy in September 2016. In the same month, the state Government of Chattisgarh launched the ‘Start-up Chhattisgarh’ initiative. Also, in March 2017, the Government of Bihar had enforced a new policy in place – the Bihar Startup Policy 2017 and set up a trust, with an initial corpus of $76 Mn (INR 500 Cr), to act as the nodal agency for implementation of this policy.
Telangana, Uttar Pradesh, Karnataka, Jharkhand, Kerala, West Bengal and Rajasthan are the others states that have already announced policies pertaining to startups.