New Delhi, July 16 (SocialNews.XYZ) Delhi Chief Minister Rekha Gupta said on Thursday that the state government has approved the Delhi Start-up and Incubation Policy with the aim of giving a fresh push to innovation, research and entrepreneurship in the national capital with Rs 400 crore investment over the next five years.
Chief Minister Gupta said the policy is designed to develop Delhi into one of the country's leading hubs for innovation and entrepreneurship while ensuring that young people receive every possible support to turn their ideas into successful start-ups.
As part of the initiative, the state government will also organise an Annual 'Delhi Start-up Youth Festival', which will bring together young innovators, educational institutions, start-ups, investors, industry representatives and policymakers on a common platform to showcase new ideas, build partnerships and inspire entrepreneurship among the youth.
The policy has received the State Cabinet's approval.
Chief Minister Gupta said the initiative is not just about helping people launch start-ups, but about transforming Delhi's youth from job seekers into job creators.
She added that the Delhi government wants to ensure that students, researchers, teachers, alumni and aspiring entrepreneurs with promising ideas never face a shortage of resources, mentorship or financial assistance to take those ideas forward.
The Chief Minister said the policy aims to build a strong innovation ecosystem across Delhi's educational institutions.
In its initial phase, it will be implemented in 11 state universities, 13 government-aided colleges, polytechnic institutions, Industrial Training Institutes (ITIs) and government schools.
The Delhi government will provide one-time financial assistance to eligible institutions for setting up and strengthening incubation centres.
In addition, these centres will receive annual operational support for mentoring, networking, innovation activities and the overall development of the start-up ecosystem.
Chief Minister Gupta said that start-ups associated with these incubation centres will receive milestone-based financial assistance at different stages of their growth.
"The support will cover various phases, including prototype development, proof of concept, product development, market validation and commercialisation, enabling promising ideas to grow into successful enterprises," she added.
She said that the incubation centres will provide young entrepreneurs with modern infrastructure, expert mentoring, business advisory services, intellectual property support, access to laboratories and testing facilities, as well as opportunities to connect with investors and industry.
This will ensure step-by-step support for students and young innovators from ideation to incubation and commercialisation, she added.
Chief Minister Gupta said the policy will not only help young people start businesses but will also strengthen Delhi's culture of innovation, create new employment opportunities, encourage research-driven innovation, deepen collaboration between industry and educational institutions, and accelerate the national capital's knowledge-based economy.
She added that the Annual Delhi Start-up Youth Festival will be one of the policy's flagship initiatives and will be developed as a premier platform.
Source: IANS
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