Chief Minister Velha Gupta-led Delhi government is soon setting up an incentive-based draft policy. The policy will facilitate the establishment of 5000 Startups and make the national capital a global innovation center by 2035, the document states. Under the policy, the government will set up a £ 200 Crore Corpus for the Delhi Startup Venture Capital Fund to provide financial access to these businesses. The concept of nine pages of the Delhi starting policy 2025 is exempt for feedback from stakeholders. It is available on the website of the Department of Industries in Delhi. “To encourage, facilitate and support the rise of at least 5,000 startups by 2035 to encourage entrepreneurship that enables sustainable and inclusive socio-economic development throughout the state,” the mission of the document states. The policy, which is planned for ten years, will focus on startups in 18 key areas, including healthcare services, hospitality, fintech, car businesses, e-waste management, logistics and supply chain management, play, green technology and robotics. AI, machine learning, internet of things according to the draft policy, artificial intelligence, machine learning, the Internet or Things, software-as-a-service (Saas), biotechnology, supplemented reality, drones and unmanned air vehicles will be other key areas, as listed in the concept. “Delhi is one of the fastest growing states in the country. The proximity to government institutions, the presence of a business-friendly infrastructure and an emerging entrepreneurship culture makes the city a viable IT center. It is said that after the approval of the Starting Monitoring Committee, other focus areas can be identified and included in the demand for the market and leading technologies. The draft policy also proposes several fiscal incentives to promote the initial ecosystem, including 100 percent remuneration of rental of workspace leases up to £ 10 lakh per year for a maximum period of three years. A 100 percent refund is also recommended for submitting patents, brands, copyright and industrial designs up to £ 1 lakh on Indian and £ 3 lakh on international patents. Startup Task Force Force Other incentives recommended by the draft policy include 100 percent remuneration of the exhibition stall or rental costs for participation in domestic (£ 5 lakh) and international (£ 10 lakh) exhibitions, and £ 2 Lakh as a monthly allowance for a period of one year for operational costs. Qualifying applicants can apply through the Delhi window system with appropriate supporting documents to consider for incentives under the policy. The nodal agency will submit the applications received and applications to a Start Task Force to finalize the applicants for paying out benefits. The applicants will be notified via a startup portal of the decision, it states. He added that the Delhi government would provide modern infrastructure facilities and support systems to nurture the City’s enterprise ecosystem. Virtual incubation service The Delhi government will provide the new businesses through the Delhi Incubation Hub Network Virtual Incubation Service to help the new businesses use a network of experts and mentors. The government will also rope in the operating associations to organize a starting festival to enable them a platform to showcase their innovations and ideas and reach out to the world market. The Department of Government Industry will be the nodal agency implementing the policy by a monitoring committee led by the Industrial Commissioner and a starting task force. The Department of Government Industry will be the nodal agency implementing the policy by a monitoring committee led by the Industrial Commissioner and a starting task force. “This policy is reviewed bi -annually. A status report is instructed by the startup task force to critically assess the usefulness of the policy, the ease of implementation and the outcomes achieved,” the concept states. Women’s entrepreneurs The policy reads: “The rationale for targeted policies and programs to strengthen the women’s entrepreneur’s ecosystem is to support them in the creation of the business world, self-activity and the creation of networks to promote inclusive and sustainable balanced growth in Delhi.” “Women’s entrepreneurship can make a very strong contribution to the economic well-being of the family and communities by contributing to the Millennium Development Goals (MDGs),” it says. (With Pti inputs)
5,000 businesses in ten years, a 200 CR VC fund – which offers Delhi Govt’s ambitious draft policy
