‘Startup Chhattisgarh’ launched for boosting entrepreneurship

Raipur, Sep 13 (PTI) To give a fillip to Prime Minister’svision of Startup India, the state government today launched’Start-up Chhattisgarh’ initiative here to fosterentrepreneurship and promote innovation. Youths have no dearth of ideas. Lots of creative ideastake shape in their mind. They should convert them intobusiness ideas according to the need of market to providefacilities to people at lower rates in a convenient manner,"Chief Minister Raman Singh said after the event. "They need to be fearless to bring their ideas intocommercial products," he said. The function was held at Shri Shankaracharya Institute ofProfessional Management & Technology in Sejbahar area, whichwas attended by a large number of entrepreneurs and youths. As part of the initiative, 14 special camps will be set upin Chhattisgarh, which would be used as a platform to presentideas and the best out of them would be selected forincubation, he said. "At least 3000 ideas would be collected through thesecamps and in the first phase, 36 start-up units selected ofthese ideas will be developed in next four months," the CMsaid. Singh also announced a slew of measures to nurture andsupport start-ups. "First 36 start-ups established in the state would bereimbursed (with) all state govt taxes paid by them for firstthree years. Apart from this, assistance will be given inpreparing the project report, quality certifications,technical patent costs," he said. While the MSMEs (micro, small and medium enterprises)startups shall be eligible for 60% subsidy on land premium ingovernment industrial parks, all start-ups shall be givenfacility to do self-certifications for various state laws,Singh added. The CM said subsidy of 75 per cent would be given on termloan up to Rs 70 lakh for six years. He also announced the fixed capital subsidy of 35-40% upto Rs 3.5 crore, electricity duty exemption for 10 years andstamp duty exemption for land purchase or lease. (MORE) PTITKP NSKABIRDS