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Indian Express
05-08-2025
- Business
- Indian Express
5-year strategy to aid 1.25 lakh entrepreneurs: Startup policy gets Maharashtra Cabinet nod
The Maharashtra state cabinet on Tuesday approved a startup policy aimed at promoting innovation, self-employment and entrepreneurship across urban and rural regions. The Maharashtra Startup, Entrepreneurship and Innovation Policy 2025, cleared by the state Cabinet, outlines a five-year strategy to support 1.25 lakh entrepreneurs and recognise 50,000 startups, with provisions for a Rs 500-crore Maha-Fund, subsidised loans, incubation infrastructure, global startup exchange, and a new 300-acre Maharashtra Innovation City in Navi Mumbai. Under the policy, aspiring entrepreneurs will be eligible for loans between Rs 5 lakh and Rs 10 lakh at a 3% subsidised interest rate, to be provided through a structured three-stage selection process. A total of five lakh youth, including graduates and ITI pass-outs, will be screened, of which 25,000 will be selected for financial and incubation support. The government will simultaneously set up micro-incubators in ITIs, polytechnics, and academic institutions, along with regional innovation and entrepreneurship hubs in each of the state's administrative divisions. A key infrastructure initiative is the development of the Maharashtra Innovation City (MIC), a 300-acre integrated facility planned near Navi Mumbai International Airport. Designed as a convergence zone for startups, R&D labs, corporates, academia and government, the city will host sector-focused clusters in AI, FinTech, Deeptech, Medtech, Biotech, Spacetech, smart infrastructure, mobility, sustainability, and cyber security. The facility will include AI sandboxes, data analytics labs, co-working spaces, a single-window policy facilitation centre, and venues for global startup exchanges, demo days and investor summits. Startups selected through the Maharashtra Startup Week will be eligible for pilot work orders of up to Rs 25 lakh from state departments. The policy also provides for reimbursements of Rs 5 lakh for domestic patents, Rs 20 lakh for international patents, Rs 5 lakh for quality certifications, as well as funding for participation in domestic and international exhibitions. The policy introduces a robust governance model anchored by a general body chaired by the Chief Minister, supported by a governing council and administered by the Maharashtra State Innovation Society (MSInS). Each state department will earmark 0.5% of its annual outlay for innovation and entrepreneurship promotion. A centralised startup registry will assign unique IDs to all eligible startups, incubators, mentors, and investors to ensure transparent access to government benefits. To strengthen access to capital, the policy will launch a Rs 200-crore venture fund with IDBI Capital, focusing on Deeptech, agritech, healthcare, sustainability and women-led startups. Additionally, a Rs 100-crore fund will be created with SIDBI, leveraging a 1:2 public-private capital structure. Provisions have also been made for CSR-linked incubators, social impact accelerators and regulatory sandbox frameworks to support innovation in emerging technologies. The digital component includes a mentorship platform, a real-time knowledge portal, and promotion of AI-based innovation using government open datasets. The policy integrates entrepreneurship courses into school and ITI curricula, and will utilise the 3.5% innovation allocation under District Annual Plans to promote grassroot innovations, local cluster developments and inclusive enterprises. 'This policy is structured to provide direction, financial backing and mentoring, so that young entrepreneurs don't waste years without support,' Mangal Prabhat Lodha, Minister for Skills, Employment, Entrepreneurship and Innovation, said after the cabinet meeting. 'It's not just a policy of subsidies — it's a cohesive ecosystem strategy designed to position Maharashtra as India's leading innovation destination,' said Manisha Verma, Additional Chief Secretary of the Skills, Employment, Entrepreneurship and Innovation Department. Maharashtra hosts over 14,000 women-led startups and is home to 27 of India's 117 unicorns, accounting for 23% of the national count. All 36 districts in Maharashtra have at least 20 recognised startups, reflecting a strong geographical spread. The state has received national accolades for administrative excellence and ranks among the top performers in the State Ranking Framework (2022–23). However, despite this scale, startup activity remains concentrated in urban centres like Mumbai and Pune. Rural regions, tier-2 cities, and emerging sectors such as Deeptech, AI, blockchain, and agritech remain underserved. There is a lack of decentralised incubation, limited procurement channels for early-stage startups, and insufficient global investor access. The 2025 policy aims to address these structural gaps by building a more inclusive, distributed, and sector-wise diversified startup ecosystem across the state.
Time of India
05-08-2025
- Business
- Time of India
State cabinet clears startup policy, aims to create 50,000 startups in 5 years
Mumbai: The state cabinet on Tuesday cleared the Maharashtra Startup, Entrepreneurship and Innovation Policy 2025, which aims at creating 1.25 lakh entrepreneurs and 50,000 startups in the next five years. Maharashtra has the highest number of startups in the country, recording 29,146 startups by May 31. It accounts for 18% of the total number of startups in the country. The new policy is aimed at creating a more effective ecosystem for innovators, entrepreneurs, and investors. Special encouragement will be given to start-ups led by women and youth. Under the policy, the Rs 500 crore Chief Minister's "Maha-Fund" will provide financial assistance to 25,000 early-stage entrepreneurs from a pool of 5 lakh youth. They will be selected after a rigorous three-stage process and provided with mentoring, incubation, and financial assistance. "Maharashtra Innovation City" will bring together startups, corporates, educational institutions, and the govt in a 300-acre city. This innovation city will be a hub for research and innovation. It will be mandatory for each department in the state to reserve 0.5% of its annual funds for promoting innovation and entrepreneurship. Start-ups selected under Maharashtra Startup Week will be able to work directly with govt departments and will be given pilot work orders of up to Rs 25 lakh. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Micro incubators will be set up in ITIs, polytechnics, and educational institutions across the state for well-organised infrastructure. Regional innovation and entrepreneurship hubs will be established in each administrative division. Financial compensation will be provided for patent registration, product quality certificates, and participation in domestic and international exhibitions. Also, a special mechanism will be created for loan assistance to startups that have received work orders from public institutions and other trusted customers. All the schemes will be implemented through the Maharashtra State Innovation Society. "This is more than just a policy—it's a commitment to turn Maharashtra into a national and global hotspot for innovation-driven entrepreneurship and would help the state to achieve its target of a trillion-dollar economy. This would complement the state's overall efforts to create a world-class infrastructure and catalyse its growth," said chief minister Devendra Fadnavis.
