Meghalaya Startup Policy 2018

Meghalaya Startup Policy 2018

View | Download

Government of Meghalaya has launched the Meghalaya Startup Policy in August 2018 by which the objective of the state is to, “emerge as one of the leading ‘Startup Hubs’ in India by 2023 through strategic partnerships, conducive ecosystem, investment and policy interventions”.

The combined efforts of the Startup Policy and Enterprise Development Strategy will ensure that startup entrepreneurs are provided holistic support from the state to launch and grow their enterprise.

Some of the key points discussed in the Meghalaya Startup Policy are:

  • The state government will develop a startup portal and app which will aggregate all information related to the policy, its benefits and the procedure to avail them
  • Approved institutions will be eligible for a one-time grant of 75% of capital cost (cost of building, equipment, connectivity etc.) up to a maximum of INR 5 Cr to set up an incubator
  • These approved institutions shall be eligible for a performance capital grant of INR 5 lakh for each successful startup that they incubate for a minimum period of three months
  • The approved industry groups/houses shall be eligible for a performance capital grant of INR 5 lakh for each successful startup that they create
  • The government would put effort to establish one or more startup/innovation park in the state as a one-stop destination for startups, either on its own or in partnership with the private sector
  • State government proposed to establish an innovation fund to foster research in information & communication technology, energy, tourism etc. in the state institutions
  • Startups shall be eligible for reimbursement of lease rental @50% for a period of three years subject to a ceiling of INR 2 lakh per year startup
  • At least 20% of the procurement by state government departments and PSUs shall be through startups
  • Create an enabling environment and ecosystem for at least 500 startups in the next five years
Powered by InTown Solutions
menu-circlechevron-down-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram