New Goa startup policy promotes women entrepreneurs, 10,000 jobs
women entrepreneurs
, and provide employment to 10,000 Goan youths.
The policy aims to establish Goa as a beacon for startups, innovation, and entrepreneurship. It seeks to drive economic prosperity and create job opportunities, thus earning recognition as a premier destination at the national and international levels by 2028. The state cabinet approved the policy this week.
The policy's mission is to catalyse the growth of Goa's startup ecosystem through specific and measurable goals that align with its vision.
This includes fostering an environment where 1,000 startups can thrive, providing 10,000 Goans with meaningful employment within startup ventures, and enabling 100 startups to access venture funding, allowing them to scale their innovations and broaden their impact. It also aims to build strong bridges between govt and startups, actively engaging with govt departments to create opportunities for at least 50 startups to collaborate on projects, encouraging innovation and public-private partnerships.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
No annual fees for life
UnionBank Credit Card
Apply Now
Undo
The policy's mission is to foster partnerships with incubators, accelerators, maker spaces, entrepreneurs, corporates, investors, educational institutions, industry associations, govt departments, and other stakeholders, to collectively achieve the vision. The policy objectives are to nurture an environment that encourages innovation, risk-taking, and entrepreneurial thinking. It actively supports startups focused on pioneering products, processes, or services and provides startups with access to essential resources, including mentorship, networking, and investment opportunities.
The policy aims to create conditions that facilitate the growth and expansion of startups, encourage the active participation of women and other underrepresented groups in entrepreneurship, and back startups dedicated to creating positive social and environmental impacts. It collaborates with institutions and renowned foundations to offer training and resources for building the skills necessary for startup advancement, enabling startups to compete effectively in national and international markets, and simplifying and expediting administrative processes to reduce bureaucratic hurdles for startups.
Other objectives include collaborating with industry stakeholders and investors to create a dedicated fund, ensuring financial support for early-stage and growth-stage ventures.
It seeks to create binding partnerships with all relevant stakeholders to collectively work towards achieving the mission and vision and foster greater cooperation between govt departments and startups, exploring technology-driven solutions to common challenges.
The policy states that to facilitate the creation of dedicated funds for providing various types of support and impetus to startups, the campus innovation scheme, promotion and marketing assistance scheme, skill enhancement scheme, women entrepreneur vitality scheme, R&D reimbursement scheme, salary reimbursement scheme, lease subsidy scheme, and seed capital grant will be implemented.
State govt notified the policy in Oct 2021 and re-notified it again in Aug 2022 with a vision to make Goa one of the most preferred startup destinations in India and feature in the top 25 startup destinations in Asia.
'This policy was crucial for promoting startups and also for creating a robust startup ecosystem,' the cabinet said.
There are currently 279 startups certified by the state, and incentives amounting to Rs 4 crore have been disbursed for startups against various schemes under the policy. State govt envisions that facilitating entrepreneurship would lead to value creation and job creation. The policy also intends the proliferation of startups and the unleashing of economic opportunities across Goa.
'While govt is committed to promoting entrepreneurs from Goa and generating employment for Goans, the state is open to attracting the best and brightest technology talent from different parts of the world. The infusion of high-end talent will have a positive effect on the state's economic growth, the state's skill quotient, and will enable local Goans to become one of the most sought-after talent pools nationally and globally,' the cabinet said.
'Based on the changing dynamics of the technology industry, entrepreneurs, human capital, and the ever-evolving nature of the startup ecosystem, the policy is sought to be revised to foster innovative startups by providing necessary infrastructure, connecting communities to enable sharing of ideas, experience, and knowledge, and mitigating regulatory and other challenges that impede innovation,' the cabinet said.
Stay updated with the latest local news from your
city
on
Times of India
(TOI). Check upcoming
bank holidays
,
public holidays
, and current
gold rates
and
silver prices
in your area.
Get the latest lifestyle updates on Times of India, along with
Raksha Bandhan wishes
,
messages
and
quotes
!
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
32 minutes ago
- Time of India
Rera Haryana orders realtor to refund cash payment, refers case to I-T dept
1 2 Chandigarh: Targeting black money in the real estate sector, the Real Estate Regulatory Authority (Rera) Haryana has begun referring cases involving cash transactions above Rs 2 lakh to the income tax department for investigation. In a recent case, the Panchkula bench of Rera Haryana directed a realtor to refund Rs 10 lakh received in cash from a buyer for a flat in Panipat, along with Rs 7.73 lakh in interest — calculated at an annual rate of 10.9%. The buyer, Jasvir Singh from Panipat district, had lodged a complaint against Real Heights Developers, Panipat. He substantiated his claim by presenting a complete record of his income and a proper receipt for the cash payment. The builder, however, refused to provide a specimen of his signature on the cash receipt, further strengthening the complainant's case. The order was passed by Rera members Geeta Rathee Singh and Chander Shekhar after hearing the case at the Panchkula bench. The complaint was filed on July 6, 2020, for violation or contravention of the provisions of the Rera Act or the rules and regulations made thereunder. It was prescribed that the promoter shall be responsible for fulfilling all obligations, responsibilities, and functions towards the allottee as per the terms agreed between them. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The 5 Books Warren Buffett Recommends You To Read in 2025 Blinkist: Warren Buffett's Reading List Undo The complainant booked a residential flat with a 2BHK+study type residential plot in the real estate project 'Harmony Homes', an Affordable Group Housing Colony at Sector 40, Panipat, Haryana, on June 9, 2018, by making a payment of Rs 1,18,537 through cheque against the booking application form. The total sale consideration of the flat booked by the complainant was fixed at Rs 23,50,000. On June 26, 2018, the complainant further deposited a payment of Rs 10,00,000 in cash with Sanjay Gupta, director/partner of the company. The company issued a cash receipt acknowledging the deposit of Rs 10,00,000. The receipt specifically mentions 'confirmed booking' in respect of the flat booked by the complainant. The company refunded only Rs 1,18,537, which was paid by cheque, to the complainant but did not refund the remaining Rs 10 lakh received in cash. Aggrieved by this, the complainant approached Rera for a refund of his money. Opposing the complainant, the company submitted that the complainant deliberately failed to come forward to make payment of the remaining amount as he was unsatisfied with the allotted unit on the 14th floor and wished for a flat on the 2nd floor. The company outrightly denied the complainant having made this payment against the booked unit. It was also argued that the receipt of Rs 10 lakh received in cash was forged by the complainant. During the hearing, the authority noted that the receipt of Rs 10 lakh received by the company in cash bears the stamp of the company along with the signatures of Sanjay Gupta, head of the company. However, on closer inspection of the handwritten receipt, it was ascertained that the stamp on the handwritten receipt is the same as the stamp on the receipt of the amount of Rs 1,18,537 paid via cheque. Sanjay Gupta, director of the company, appeared before the authority and refuted the signatures. To verify the contending claims, the authority asked him to submit his signatures for a forensic examination, which he denied. The complainant, on the other hand, fully disclosed the source of the cash he deposited. After hearing all the parties, the authority held that the promoters use their dominant position to make wrongful gains at the behest of innocent homebuyers, as in the present case. "It is the very essence of the Act and its regulations to put a stop to such malpractices which make the allottees lose faith in the system, or else the very purpose of the enactment of the Act is defeated. The authority deems it right to acknowledge the fact that a cash payment of Rs 10 lakh was made by the complainant to the company prior to the allotment to secure his booking. However, upon unsuccessful allotment, the respondent saw a window of opportunity and evaded the responsibility towards the present complainant by dismissing his claims of Rs 10 lakh payment," the bench held. The authority also observed that cash payments of more than Rs 2,00,000 have exchanged hands. "This authority directs the office of the authority to send a copy of this order to the director general investigation, Sector 17, Chandigarh, to take appropriate steps as per law," held the bench while disposing of the matter. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
32 minutes ago
- Time of India
Marc Andreessen predicts device will come that will make your smartphone feel 'old'
Venture capitalist Marc Anderssen believes that the next big leap in the field of consumer technology will come from a device so transformative that it will make today's smartphones feel 'old and primitive'. In a recent TBNP podcast appearance, Andreessen said the company that invents such a product could become the 'next Apple.' 'Whoever cracks the code on that will be the next Apple,' Andreessen said, adding that the innovation required to replace the smartphone could take 'three years or two decades.' Andreesen the co-founder of Andreessen Horowitz didn't name any specific technology but hinted that the technologies involving eye-based interfaces, voice-operated systems or environmental computing can become the next big thing. What comes after the smartphone As reported by Business Insider, during the recent TBNP podcast, Andreesen was asked what will come after smartphones? 'Whoever cracks the code on that will be the next Apple," Andreessen said. 'Creating a product that makes the smartphone obsolete will require a level of innovation that the world has yet to see. It could take three years or two decades,' Andreessen added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When Knee Pain Hits, Start Eating These Foods, and Feel Your Pain Go Away (It's Genius) Read More Undo With AI, augmented reality, and wearable computing advancing rapidly, many believe the next era of interaction will be hands-free, immersive, and context-aware. What lies in the future Andreesen feels that future will be all about personal computing which could include "eye-based, voice-operated, or have some sort of environmental computing," moving away from the screen-centric model of today. Companies like Apple, Google, Meta, OpenAI and others are working on multiple next-gen devices such as Apple Vision Pro and similar AR headsets, AI-powered smart glasses, voice-first assistants with ambient intelligence. Andreessen's firm has invested in several companies working on ambient computing and AI-native hardware. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
- Time of India
VC firm Speciale secures Rs 600cr in fund-III
Chennai: Speciale Invest, a venture capital firm backing deep-tech startups has raised Rs 600 crore for its third fund. It aims to invest in pre-seed and seed rounds in 18 to 20 startups designing and building critical technologies locally in what it calls a sovereign edge. The funds are expected to be deployed in four years with a ticket size of Rs 7 crore to Rs 10 crore, and keep the 50% of the funds for follow-on investments. Speaking to TOI, Speciale's Founder Vishesh Rajaram said the focus will be on space, energy, advanced manufacturing including, defense, robotics, semiconductors and quantum. "We are definitely going to double down on India's sovereign edge. We are looking for areas like global navigation satellite systems, drones that can operate in a GPS-denied environment. In select cases, where the technology aligns with our thesis, we will participate in Series A rounds," he said. Rajaram, who has backed notable deep-tech startups such as Agnikul Cosmos, The ePlane company, GalaxEye Space at early stages, said they will look for founders with academic research background and building solutions. Speciale's first fund has raised Rs 61 crore in 2018 with 18 investments and seven exits, followed by its fund 2, which secured Rs 300 crore in 2021 and a total of 17 investments and two exits. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Become Fluent in Any Language Talkpal AI Undo You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Gold Rates Today in Chennai | Silver Rates Today in Chennai Rajaram further said, "We are also looking for global market readiness from day zero and capital stack orchestration, where the startup goes beyond equity to blended financing such as debt, grants, to smooth scale-up. We have learned that capital efficiency and market timing along with founder-market fit are as critical as technical defensibility in deep-tech outcomes." Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
