Entries sought from start-ups seeking incentives

Incentives under the Innovation Policy were recently handed over to 11 start-ups

The Telangana government is inviting applications from start-ups desirous of availing themselves of the incentives offered under the Innovation Policy.

Eligible start-ups can access the incentives under the categories of Performance Grant, Patent Expenditure reimbursement, SGST reimbursement and Recruitment Assistance, a release from the office of the IT and Industries Minister K.T. Rama Rao on Thursday said.

Announcing that applications are open for the next batch of Telangana State incentives for start-ups, the release said the incentives under the Innovation Policy were recently handed over to 11 start-ups who met the eligibility criteria and submitted necessary documentary evidence.

A total of 67 applications were received from 32 start-ups under the four categories. Out of them, 17 applications were sanctioned to 11 start-ups. The start-ups received the incentives from Chief Secretary Somesh Kumar, where Industries and IT Secretary Jayesh Ranjan was present.

The release said Telangana is a start-up State and helping start-ups in a sector-specific manner. It sought to assist them in multiple ways, including by providing mentorship, facilitating connections to investors as well as extending funding support under the incentives initiative.

Applications for the second batch of incentives are open and eligible start-ups can apply at www.startup.telangana.gov.in, the release said.