Electronics & IT/ITES Start-up 2016 - 2021 Policy Operative Period - 2016 to 2021

Vision

To create vibrant start-up culture wherein ideas materialize into products, entrepreneurs are mentored, businesses are incubated and product or process innovation is facilitated to become a business of global scale to contribute to economic prosperity of the state and to generation of employment.

Objectives

  • Facilitate at least 2,000 start-ups
  • Establish at least 50 incubators in Gujarat
  • Develop 1 million sq.ft of incubation space
  • Facilitate investment of USD 1 billion to start-ups

Policy Features:

Incentives for Incubators

  • One-time capital assistance at the rate of 50% of gross fixed capital investment (GFCI), excluding cost of land, for setting up an incubator, subject to a ceiling of Rs. 50 Lakh
  • Mentoring assistance of Rs. 5 Lakh per annum
  • Matching grant of 25% of funds mobilized by them from nongovernmental sources, subject to a ceiling of Rs. 1 Crore per annum.
  • Assistance of 50% of software cost subject to a ceiling of Rs.1 Crore Assistance of 100% reimbursement of stamp duty and registration fee
  • Power tariff subsidy at Rs. 1 per unit on the billed amount for a period of 2 years
  • 100% reimbursement for electricity duty paid for a period of 2 years on coterminous basis with power tariff subsidy

Incentives for Start-Ups

  • 100% reimbursement of stamp duty and registration fee
  • Lease rental subsidy at the scale of 50 sqft per employee, for two years on reimbursement basis at the rate of Rs.15 per sqft.per month
  • Interest Subsidy at the rate of 9% per annum subject to a ceiling of Rs. 2 Lakh per year for a maximum duration of two years
  • Patent assistance at the rate of 75% of cost of obtaining patent subject to ceiling of Rs. 2 Lakh per patent for domestic patent and Rs.5 Lakh per patent for international patent
  • Bandwidth subsidy at the rate of 70% of annual bandwidth charges subject to a ceiling of Rs.20,000 for 2 years
  • Skill certification grant will be at the rate of Rs.5000 per skill certification per person subject to overall ceiling of Rs. 1 Lakh per annum per start-up for two years
  • Marketing & product development assistance of Rs. 1 Lakh will be provided to eligible start-ups for prototype/product development and additional assistance of Rs. 1 Lakh will be provided for marketing
  • Additional 25% of capital from Gujarat Venture Finance Limited (GVFL) at which the capital was raised within 6 months of such raising subject to a ceiling of Rs.5 Crore

Special Provision:

In all e-Governance Project undertaken by Government of Gujarat, part of work of value range between 5% and 10%will be outsourced to start-ups and students of technical colleges in Gujarat.

For more information please visit: https://dst.gujarat.gov.in

Contact Us

For further support and assistance get in touch with us. We would love to hear from you.

CLICK HERE