Madhya Pradesh
Madhya Pradesh Launches New Startup Policy
- 16 May 2022
- 2 min read
Why In news
- Madhya Pradesh's new startup policy was launched through virtual medium at the Startup Conclave organized by Prime Minister Narendra Modi in Indore on May 13, 2022.
Key Point
- The Madhya Pradesh Startup Policy and Implementation Scheme, 2022 has been implemented with a view to fulfilling the objectives of Self-Reliant India and Self-Reliant Madhya Pradesh.
- It incorporates special financial and non-financial facilities to encourage product-based startups.
- Startup India mainly includes achieving 100% growth rate in startups registered and recognized by the Government of India, as well as 200% growth rate in startups registered and accredited with startups registered and recognized in the Government of India in agriculture and food sector.
- Under the policy, if a new enterprise is running in a rented accommodation, the state government will give rs 5,000 per month for rent.
- The selected startup will be given a monthly salary allowance of Rs 5,000 per employee for a maximum of 25 employees.
- The following five pillars have been followed in the policy to achieve the objectives of the policy:
- institutional cooperation, including ease of doing business,
- Encouraging product-based startups,
- promoting innovation and entrepreneurship,
- Marketing Collaboration,
- To provide financial and non-financial assistance.
