The Delhi cabinet has approved the “Delhi Startup Policy” with an aim to create an ecosystem for people to launch startups and provide them with fiscal and non-fiscal incentives, collateral-free loans, and free consultancy from experts, lawyers, and CA. The 20 members task force will be set up to oversee the startup policy. This committee will be headed by Delhi’s Finance Minister. To encourage, facilitate, and support 15,000 startups by 2030.
The Delhi Government will pay up to 50% of the rent of a startup’s office lease or pitch in for a portion of the salaries that these startups will pay to their employees. We will also reimburse them for the costs incurred on applying for patents, copyrights and trademarks.
The government will form a monitoring committee to oversee the startup policy. This committee will be headed by Delhi’s Finance Minister. The composition of this committee will be – 85% representatives from the private sector, 10% from educational institutions and 5% from the government.
The policy will also focus on the youth by teaching entrepreneurship to students in classes IX-XII and giving them seed capital under the Business Blasters Programme.
The initiative will also be replicated at the college level. Students working on startups while studying in the Delhi government’s colleges will be able to seek up to two years of leave to build their businesses.