In a bid to promote start-ups, Maharashtra State Innovation Society (MSInS) will select 24 business ideas and issue work orders worth ₹15 lakh to each of them as part of Maharashtra start-up week 2018.
The government has chosen sectors like education, skill, health, agriculture, clean energy, environment, water and sewage management, smart infrastructure, communication, finance, and cyber security under the start-up policy.
“The new entrants should send their applications to the MSInS by May 31. Of them, 100 business ideas will be selected and screened by the selection committee. Finally, 24 ideas will be chosen, which will be given work orders worth ₹15 lakh each by the MSInS,” said Skill Development Minister Sambhaji Patil-Nilangekar.
“The government is looking for innovative products from these start-ups and if we find it interesting, we will be the first to buy their products,” said E. Ravindran, CEO, MSInS.
Mr. Ravindran said the Tata Trust has signed an MoU with the MSInS as a strategic knowledge partner for the start-up week. The presentation of those 100 ideas will be made in front of venture capitalists, banking professionals, potential investors, and government officials between June 25 and 29.
In addition, the government will extend communication and cooperation to these start-ups for the next 12 months.
“Apart from the 24 start-ups, the government will promote nearly 10 start-ups by extending financial assistance worth ₹ 15 lakh to develop market in foreign countries,” he said.
The government is also focusing on rural areas. “We have decided to choose five start-ups from rural areas of every district,” the minister said.
