For promising startups ideas, money is not an issue,as per the Budget proposals. The government can fund up to Rs 25 lakh at an early stage. Not only that, schools will also have incubation centres to promote entrepreneurship and they would not be left hanging.
In the Budget speech, the chief minister said that the incubation centres will be connected to Bhamashah Techno Hub, the largest incubation centre in the country or at par with the T-Hub in Hyderabad.
This good news for the startups in the state that the chief minister likes the Bhamashah Techno Hub and in the Budget speech he praised and credited the previous chief minister Vasundhara Raje for the facility. That means, the techno hub will start buzzing again.
Chief minister Ashok Gehlot said that the i-Start programme will continue which will give wings to many start up ideas. Recently, the many startups from the state has raised funding and it seems the clouds have cleared for the innovative and scalable ideas cleared.
Mahavir Sharma, chairman of TiE Global, said, “This is a very good announcement. A good startup idea getting Rs 25 lakh as a seed money can certainly grow into a big company. But the process of selection has to be right.” He said seeding the idea of entrepreneurship at the school level is critical to build a vibrant ecosystem. “The state government should work in partnership with the ecosystem players operating out of the state. They know better their startups and the market where the startups try to to kick off their ventures,” added Sharma.
Officials in department of IT said that the chief minister’s announcement takes the cue from a rigorous planning currently under progress which is aimed at reviving the startup ecosystem in the state.