Entrepreneurship Industry News

Haryana Govt ready with draft policy to develop state into a start-up hub

Haryana Government has prepared a draft policy to develop the state into a start-up hub by supporting new-age innovators and entrepreneurial talents.

According to a Haryana Government Spokesperson, the policy aims at facilitating a minimum venture capital funding of Rs 200 crore, and encouraging, facilitating and incubating at least 500 start-ups, an official spokesman said.

The state government is planning to attract investments to the tune of Rs 500 crore in the incubation and start-up ecosystem of the state during the policy period. This will be done by creating a sustainable ecosystem of innovation, research and development and engineering, aligning Haryana with the Centre’s Start-up India initiative, he said, as quoted in a media report.

The spokesperson also said that work would be done towards enhancing links between universities, research institutions and the business community will be essential to creating the ecosystem.

“It has been proposed that an IT start-up hub in Gurgaon and at least 10 technology, business incubators or accelerators will be setup in different regions of the state,” the spokesman said.

The plan is also to have incubation centres in all parts of the state, and develop one million square feet of incubation space, he said.

The spokesman said a start-up according to the draft policy will be an entity that is registered in Haryana not prior to five years and with an annual turnover not exceeding Rs 25 crore.

Read More: KNN India