Haryana State Startup Policy, 2022 | 28 Jun 2022

Why In News?

• The state cabinet meeting chaired by Haryana Chief Minister Manohar Lal Khattar on June 27, 2022 approved a new Haryana State Startup Policy, 2022 prepared by the Department of Information Technology, Electronics and Communications, Haryana.

Key Point

• Through this policy, the state government aims to promote and nurture the vibrant startup ecosystem in Haryana.
• According to Department for Promotion of Industry and Internal Trade (DPIIT), Any recognized startup entity, for a period of 10 years from the date of its incorporation/registration and whose annual turnover does not exceed Rs.100 crore, shall be eligible to avail major fiscal and non-fiscal benefits under this new policy in Haryana.
• These benefits include subsidized incubation space, liberal criteria for participation in tenders of Government of Haryana, participation in mentorship programmes and other startup specific programmes.
• A Startup Haryana Cell is being set up in the Department of Information Technology, Electronics and Communications to monitor the implementation of the policy and other institutional activities.
• Under the policy, capital grant of up to Rs.2 crore will be given to government host institutes and up to Rs.1 crore to private host institutes for setting up of incubators .
• The incubator will be given assistance of up to Rs.20 lakh per event for organizing startup competition festival in institutes of national importance.
• The State Government has also added several new incentives to the New Haryana State Startup Policy, 2022 to provide additional benefits to startup stakeholders, some of which are as follows:
  • An annual financial assistance of Rs.4 crore will be provided for capital expenditure and Rs.1 crore for recurring expenditure of three years for setting up of IT startup Warehouse at Panchkula, Hisar and other potential locations.
  • Earlier, startups at the incubation centre were eligible for a period of only one year to avail the benefits. Now, in the new startup policy, such startups can avail of three years for space, plug and play facilities at subsidized rates.
  • The State Government will also organize specific entrepreneurship development programmes in 22 districts of Haryana every six months to create more awareness among aspiring innovators/entrepreneurs and school/college students about their development opportunities and potential in the startup ecosystem under the new policy.