Rajasthan has lined up a slew of incentives and benefits for start-ups to set up base there as the State aims to become a technology hub like Andhra Pradesh and Karnataka.
As part of Rajasthan Start-up Policy 2015, the desert State will offer incentives to the tune of about ₹55 crore over the next five years through grants and setting up of incubators and co-working space across cities such as Udaipur, Jodhpur and Kota.
“We know that we are not in the same league as the other States but we are witnessing a lot of growth now. Big companies like Infosys and Genpact have set up bases here and Wipro and Tech Mahindra are on the anvil. We believe we are catching up fast,” Principal Secretary (Industries) Veenu Gupta told PTI.
She added that the policy came into force from October 9 and will remain in operation for a period of five years.
Focus areas
“The focus areas for the policy include social and cleantech, (water, sanitation, renewable energy and healthcare), mobile and IT and Internet of Things (IoT), electronics and hardware, and disruptive technologies,” she said.
As part of the policy, 50 incubators or incubator – like organisations to be established, 500 innovative start-ups will be supported and one lakh sq ft of incubation space will be developed.
“We will work with all stakeholders – students, start-ups and educational institutions. We also envisage angel and venture capital of ₹500 crore will be mobilised for start-ups through the Policy,” she said.
The nodal institution for implementation of the Start-up Policy is RIICO Ltd, Jaipur.