- State wins the Best Startup Award in four categories at the India First Tech Conclave
- Chhattisgarh honoured as an aspiring leader for the development of the startup ecosystem in the 2021 startup ranking.
- Provision of grants for the establishment and operation of incubators for the first time in the New Industrial Policy
Raipur (thestates.news) |As a result of the new Industrial Policy (2019–24) implemented by the Government of Chhattisgarh to encourage startups, 838 startup units were registered in the last four and a half years. For the first time in the new industrial policy, a provision for grants was made for the establishment and operation of incubators. The startup units of Chhattisgarh have made their mark in the country due to the policies implemented by the state government and their proper execution. The state’s startup won the Best Startup Award in four categories at the India First Tech Startup Conclave organized by the All India Council for Robotics and Automation in Bengaluru in June 2022.
Similarly, the state was awarded as the Aspiring Leader for the development of the startup ecosystem in the States Startup Ranking 2021, announced by the Government of India in July 2022. The number of startup units recognized by the Department of Promotion of Industry and Internal Trade, Government of India, in the state is currently 1012, out of which 838 startup units were registered in the last four and a half years.
Various concessions, exemptions, and grants provided for startup promotion
For the expenditure incurred for the establishment of incubators, a 40 percent grant is being given. Similarly, a maximum grant of Rs. 50 lakh and a maximum operating grant of Rs. 3 lakh per year for 3 years is provided. Besides this, an interest subsidy of up to 70 percent, up to the limit of Rs. 55 lakh, is given for a maximum period of 11 years as an incentive. The maximum subsidy for fixed capital investment is 55 percent, subject to a maximum limit of Rs. 24 lakh. Net State Goods and Services Tax (Net SGST) reimbursement is exempt from up to 100 percent of fixed capital investment for a maximum period of 15 years, starting from the date of commencement of commercial production. A full exemption from stamp duty on the purchase or lease of land is provided.
40 percent of the monthly rent paid is reimbursed as rent subsidy, with a maximum limit of Rs. 8,000 per month. Under the project report grant, one percent of the valid fixed capital investment, with a maximum limit of Rs. 2.50 lakh, is fixed. Under the quality certification grant, 50 percent of the amount, up to a maximum limit of Rs. 5 lakh is fixed. 50 percent of the expenditure incurred under the grant of a technical patent is subject to a maximum amount of Rs. 10 lakh.
A limit of Rs. 10 lakh is fixed for the maximum amount of 50 percent of the expenditure incurred under the technology purchase grant. A 50 percent reimbursement is given for participation in national and international-level seminars and workshops, up to a maximum limit of Rs. 1 lakh per year. A 50 percent exemption in land premium is given on allotments of land in industrial areas and industrial parks of the Industrial Department, CSIDC.
