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Time of India

Chandigarh startup policy launched to support innovation, entrepreneurship

1 2 3 Chandigarh: The Chandigarh Administration on Tuesday launched the much-anticipated Chandigarh Startup Policy 2025 during a ceremony held at Punjab Raj Bhawan, Chandigarh. In his address, Gulab Chand Kataria said that the new Chandigarh Startup Policy was designed as per the vision and consistent efforts of Prime Minister Narendra Modi since 2016. Just like Pune, Bengaluru, and Ahmedabad, our City Beautiful can also become a startup hub. Key highlights The Chandigarh Startup Policy 2025 was meticulously designed to enable the creation and growth of over 200 startups over the next five years. It aims to promote a culture of research, innovation, and entrepreneurship among youth, women, transgenders, and underrepresented groups. The policy seeks to strengthen incubators and academic institutions, driving synergy between industry and academia for fostering innovation. The Chandigarh administration has earmarked an annual corpus of Rs 10 crore for the effective implementation of the policy for the next five years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 10 Mysterious Photos That Cannot Be Explained True Edition Undo Policy structure and administrative framework A high powered committee (HPC) chaired by the chief secretary, Chandigarh administration, will guide strategic decisions, monitor progress, and amend the policy if needed. The Policy Monitoring & Implementation Committee (PMIC), chaired by Secretary Industries, Chandigarh Administration, will be responsible for operational approvals, disbursement of incentives, and monitoring activities. Financial and Non-Financial Incentives Financial support for startups includes an idea grant of Rs 2 lakh for the top 20 startups and Rs 1 lakh for the next 50 startups selected through an annual grand competition. A seed stage grant of up to Rs 7 lakh per startup and an additional Rs 2 lakh for women-led and transgender-led startups is also available. The early-stage commercialisation grant offers up to Rs 12 lakh per startup, with an additional Rs 2 lakh for women-led and transgender-led startups. A rental subsidy of Rs 5,000 per month for 12 months is provided for using recognised co-working spaces. Support for certifications covers 80% of the cost incurred up to Rs 1 lakh per startup, and support for patent filings covers 80% of the cost incurred up to Rs 10,000 per startup. Financial support for incubators includes a technology upgradation grant of up to 25% of the total project cost, with ceilings of Rs 30 lakh for public and Rs 20 lakh for private incubators. A sustenance allowance of Rs 7.5 lakh per annum is provided for operational expenses, and mentorship programme support of Rs 5 lakh per annum is available for organising startup mentoring activities. Non-financial incentives for startups include access to incubation facilities at no cost for one year, relaxed public procurement norms, self-certification under six labour laws, and subsidised stalls at India International Trade Fair (IITF) and similar exhibitions. Full integration and service availability are provided via the dedicated "Start-in-Chandigarh Portal". MSID:: 120733046 413 |