Rajasthan unveils start-up policy
Rajasthan Chief Minister Vasundhara Raje on Friday released the state's first start-up policy to promote entrepreneurship, to loud cheers by aspiring entrepreneurs and students who had gathered in large numbers for a two-day Rajasthan Startup Fest 2015 in Jaipur's Sitapura area.
The start-up policy, unveiled by Raje while inaugurating the event, aims to strengthen the start-up eco-system in the state by setting up 50 incubators/accelerators, supporting 500 start-ups, creating 100,000 square feet of incubation, and mobilising ~500crore angel/venture capital funding in the next five years.
“If Bengaluru is where it all began in start-ups, I can assure you Rajasthan is where it is going to be. It is a very important step in the history of Rajasthan,” Raje said. She said this policy is for five years, but it is open to suggestions and reviews. ‘‘We are giving a baseline policy; nothing is closed. We are also open to the private sector playing a bigger role,'' she added.
Arun Nanda, chairman of Mahindra Holidays and Resorts India Ltd, in his keynote address at the event, said he would be mentoring three start-ups in the state, while Rajesh Agarwal, managing director at Micromax Informatics, shared how Micromax became one of the topten telecom brands globally.
The Startup Fest has been organised by the Rajasthan State Industrial Development & Investment Corporation (RIICO); Startup Oasis, a Jaipur-based incubation centre set up by RIICO, and the Centre for Innovation, Incubation & Entrepreneurship of the Indian Institute of Management, Ahmedabad.
The organiser claimed event saw participation from more than 500 people.
Several start-ups are exhibiting their products at the festival. The event also saw multiple panel discussions and mentoring sessions. “Jaipur is fast becoming the next start-up hub of India, with excellent social and physical infrastructure, low cost of living, large number of technical and professional colleges and proximity to the National Capital Region,” said C S Rajan, chief secretary, the government of Rajasthan.