Panaji: Information Technology Department hopes to launch the Goa Startup Policy which has been changed 2021 in around 60 days with several incentives on the foundation to increase local work and the creation of startup in Goa.
In a big step, the state government plans to create funds that will be used to provide incentives to startups who want to divert their operations to Goa.
Giving a brief snapshot on the steps of future policy, IT Director Ankita Anand said that women’s entrepreneurs whose business concepts are still in the ideal phase can receive monthly allowances of Rs 22,000 per month for one year until their company takes off.
Anand speaks at the Conclary Summit and Entrepreneurship Goa Startup.
Current Cave Startup Policy 2017 is set to Lapse at the end of September after being extended twice.
“The new policy will offer assistance to startup to move to Goa,” Anand said.
“We will create funds and I will seek dpiit assistance (departments for industrial and internal trade promotion) and Indian startup in connection with fund funds.
This will help startup preparing their main operations in Goa and employ more than 50% of the local population.” He Said that incentives can be utilized by various startups, especially those led by GOANS, but those in other states, so they can return to Goa.
“This is an opportunity for them to return to Goa, to return to its roots and motivate students here too,” Anand said.
The new startup policy will be a sector agnostic, which allows new business businesses from any industry and not only from the IT sector, to look for incentives.
Stating that women constitute around 30% of the Goa Startup sector, Anand said, “The government will provide monthly allowances for women entrepreneurs at the stage of ideas with Rs 22,000 per month for a period of one year and technology support for women to rs to rs of 10 lakh.” Under the existing policy, there are 111 certified startups in Goa and around RS 1.1 Crore have been disbursed to start with policies.
The state has decided to stop the popular seed fund scheme used to provide 10 lakh rs sanctions as a seed capital in three startup stages.
Conversely, the IT Department of Goa will help Goan beginners get funds from the Indian Startup seed fund scheme.