Latest news with #MaharashtraStateInnovationSociety
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.
News18
21-07-2025
- Business
- News18
Maharashtra Signs 3 Pacts With Finland To Boost Youth Startups, Research, Training
Last Updated: Maharashtra minister Mangal Prabhat Lodha announced agreements with Finland and three partners to boost innovation, providing global exposure, training, and opportunities In a significant move toward transforming Maharashtra into a global hub for innovation and entrepreneurship, the state's skill development, employment and innovation minister Mangal Prabhat Lodha announced a series of crucial pacts with Finland and three other international partners. Signed on Monday in Mumbai, these agreements are expected to provide Maharashtra's young entrepreneurs with global exposure and opportunities. The Maharashtra State Innovation Society (MSInS), operating under the skill development department, inked the pacts with the Government of Finland, Global Access to Talent from India (GATI), Magic Billion, and Charcos Enterprises. These aim to create better avenues for placements, research, investments, and high-end training for the state's youth. Dr Eva Nilsson, ambassador of Finland to India, attended the signing ceremony along with senior officials including additional chief secretary Manisha Verma, MSInS Additional CEO Aman Mittal, vice chancellor of Ratan Tata Skill University Apoorva Palkar, and director of the Directorate of Vocational Education and Training Madhavi Sardesai. Lodha highlighted Prime Minister Narendra Modi's vision to make India a developed nation by 2047, stressing on Maharashtra's leading role. 'These agreements reflect the power of public-private partnerships (PPP) in skilling and innovation. This is not just paperwork — it's a doorway for Maharashtra's youth to gain global knowledge, skills, and the confidence to build world-class startups," Lodha said. Under the agreements, both countries will work together to create more opportunities for startups, establish advanced training centres in Maharashtra using Finnish expertise, and jointly host startup summits, job fairs, and research exchange programmes. Special emphasis will be placed on technology transfer and industrial research, ensuring that startups can expand globally. Nilsson commended Maharashtra's proactive approach and expressed confidence in the partnership. 'This collaboration will create new opportunities for startups and enable stronger knowledge exchange," the ambassador said. Verma said this is a significant milestone in Maharashtra's 'Vision 2047'. 'Our startups will now have a chance to make a mark globally and inspire other entrepreneurs to dream big," the official said. Before the agreements were signed, a special workshop on 'Viksit Maharashtra Vision 2047' was conducted to outline how such global partnerships will help transform the state's economic landscape over the next two decades. view comments First Published: July 22, 2025, 03:27 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
12-05-2025
- Business
- Time of India
Nagpur startup selected among top innovators in Maharashtra
1 2 Nagpur: Technoventor Innovations (TI), a Nagpur-based startup working in the field of educational innovation and makerspace development , was selected among the top 24 startups at Maharashtra Startup Week 2025 , organised by the Maharashtra State Innovation Society (MSINS). This recognition came from a highly competitive pool of over 2,500 startups from across is the only startup from Vidarbha and the only one from Nagpur to make it to this prestigious list. As part of the selection, TI was awarded a work order assurance of Rs 15 lakh from Maharashtra govt recently."This support will enable the establishment of Maharashtra's first govt-supported makerspaces in ITIs and schools across tier-2 and tier-3 cities. These labs will focus on hands-on skill development, rapid prototyping, and 21st-century innovation practices for students," said Pratik Gadkar, one of the also received the honour of presenting its journey and impact before state minister of skill development and entrepreneurship, Mangal Prabhat Lodha, and additional chief secretary Manisha Verma, along with officials from all districts, during the main showcase event on May 9 in in 2016 by Gadkar along with Mirza Asim Baig, Technoventor Innovations has built over 85 makerspaces across India, transforming educational infrastructure in IITs, NITs, engineering colleges, ITIs, schools, and innovation hubs. The company is known for its end-to-end solutions, from equipment selection and installation to mentor training and curriculum design, all focused on fostering creativity, problem-solving, and innovation."This milestone reinforces TI's commitment to bringing cutting-edge innovation tools to grassroots learners and enabling equitable access to future-ready education," Baig said. This achievement is not just for TI — it's a moment of pride for Nagpur, Vidarbha, and the entire innovation ecosystem of Maharashtra, they added.
