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    Startup Policy

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    yibungo
    The document defines key terms related to innovative projects, startups, incubators, and angel investors. It also defines the prototype and pilot stages of a startup project. The scheme provides assistance to startups at the idea/prototype stage with a sustenance allowance of Rs. 10,000 per month for one year. It also provides incubator support services and access to university facilities. For startups at the pilot stage, the scheme provides up to Rs. 10 lakh in marketing/commercialization assistance if the startup has secured 25% outside funding or is part of an accelerator program run by an institution incubator.

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    Startup Policy

    Uploaded by

    yibungo
    137 views1 page
    The document defines key terms related to innovative projects, startups, incubators, and angel investors. It also defines the prototype and pilot stages of a startup project. The scheme provides assistance to startups at the idea/prototype stage with a sustenance allowance of Rs. 10,000 per month for one year. It also provides incubator support services and access to university facilities. For startups at the pilot stage, the scheme provides up to Rs. 10 lakh in marketing/commercialization assistance if the startup has secured 25% outside funding or is part of an accelerator program run by an institution incubator.

    Original Description:

    Startup policy to provide enabling ecosystem for entrpreneurs

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    The document defines key terms related to innovative projects, startups, incubators, and angel investors. It also defines the prototype and pilot stages of a startup project. The scheme provides assistance to startups at the idea/prototype stage with a sustenance allowance of Rs. 10,000 per month for one year. It also provides incubator support services and access to university facilities. For startups at the pilot stage, the scheme provides up to Rs. 10 lakh in marketing/commercialization assistance if the startup has secured 25% outside funding or is part of an accelerator program run by an institution incubator.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    137 views1 page

    Startup Policy

    Uploaded by

    yibungo
    The document defines key terms related to innovative projects, startups, incubators, and angel investors. It also defines the prototype and pilot stages of a startup project. The scheme provides assistance to startups at the idea/prototype stage with a sustenance allowance of Rs. 10,000 per month for one year. It also provides incubator support services and access to university facilities. For startups at the pilot stage, the scheme provides up to Rs. 10 lakh in marketing/commercialization assistance if the startup has secured 25% outside funding or is part of an accelerator program run by an institution incubator.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    DEFINITIONS

    Innovative project: Innovation is the process of introducing new or making changes with updated
    technology, large and small, radical and incremental, to products, processes, and services that result
    in the introduction of something new and innovative products.

    Startup: An entity that develops a business model based on some innovation and makes it scalable
    for achieving commercial success.

    Incubator: Incubator is any organization designed to accelerate the growth and success of
    entrepreneurial ventures i.e, startups, through an array of business support resources and services
    like physical space, capital, coaching and mentoring, common services and providing networking
    connections.

    Angel Investors: Investors who provide early stage seed funding to small startups or entrepreneurs.
    The capital they provide can be a one-time injection of seed money or ongoing support to carry the
    company through difficult times. The angel investor should be registered with SEBI or banks or
    reputed institutions like IITs/IIMs/NITs etc. or DST of GoR/GoI approved incubation centres.

    Prototype Stage is a pre-production/pre-launce stage where the startups developed a basic product
    with most key features desired in the final product.

    Pilot Stage is a stage where minimal capacity system is designed to start production of the desired
    product, which can be subsequently scaled up for desired production level.

    SCHEME

    Startup Support
    1. Assistance for Startups at Idea/Prototype Stage
    a Rs. 10,000 per month will be provided to the startup as sustenance allowance for one
    year whose project is recommended by the Nodal Institution and approved by the
    Committee.
    b Incubator will provide support to the startups by providing mentoring services, access
    to their labs, facilities, etc. on a free-of-cost(FOC) basis.
    c The State Government will also recommend selected startups to get free access to
    University/Libraries/Govt. Laboratories/Centre of Excellence/PSUs, etc.
    2. Assistance for Startups at the Pilot Stage
    Marketing / commercialization assistance of maximum Rs.10 lac will be provided to the
    Startup to launce its products/services in the market. The assistance will be provided in
    The following manner:
    a It can be given to a startup where he has secured funding minimum 25% from a known
    and registered angel/venture funds/reputed incubator. The amount could be disbursed as
    purely/partly grants or soft loan/equity on a case-tocase basis as has been given by
    registered angel/venture funds/reputed incubator.
    Or
    b It can be given as matching assistance to reputed incubators established by institutions
    like IIMs/IITs/NITs to fund startups as part of accelerator programme as purely/partly
    grants or soft loan/equity on a case-to case basis.

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