New Delhi: Delhi government has unveiled a startup policy of 325crores to assist the young entrepreneurs within the city. The policy will support almost 5000 startups particularly the ones that are initiated by students and first time founders.
The government under this policy will support the funding, mentorship, co working space and access to investors. Specific attention will be paid to startups that operate in the field of education, health, green energy, and technology.
According to the officials, Delhi has a big student population and good educational institutions. This policy is aimed at transforming student ideas into a reality business. Colleges and universities will be advised to establish incubation centres where they will be able to work on startup ideas.
It is also a policy that provides assistance to women entrepreneurs and founders with weaker backgrounds. There will be easy loans, grants and training programs that will ease the financial strain at the initial stages.
Analysts think such a step will increase the startup culture in Delhi. It will contribute towards creation of jobs and local economic development as well. The youth will become bold enough to experiment and be innovative.
The government indicated that it will periodically revise the policy to see to it that it is transparent and effective. Through this move, Delhi has the hope of establishing a high level of entrepreneurship among the young population.
