In an effort to promote new age technology-based business ventures in the State, the Gujarat government, on Sunday, unveiled a new policy announcing a slew of measures for new start-ups.
Chief Minister Anandiben Patel announced the new policy, which says that 50 incubation centres to curate start-ups in colleges and educational institutes will be set up with financial support from the State government.
“This new policy is primarily for technology-based start ups in the State. The government will provide a number of incentives and financial assistance to such ventures,” the Chief Minister said while unveiling the policy.
New age business modelsAccording to her, Gujarat is known for its strong base in manufacturing sector but now the State government wants to focus on new age business models which are technology driven and launched by youngsters.
“Under the policy, the government will provide incentives and financial assistance including subsidy, exemption in electricity duty for as many as seven years,” she said.
She added that the government expects Rs. 7000 crore investments in the start-up sector in the new few years.
