Rajasthan has lined up a slew of incentives and benefits for startups to set up base there as the state aims to become a technology hub like, Andhra Pradesh and Karnataka.
As part of Rajasthan Start-Up Policy 2015, the desert state will offer incentives to the tune of about Rs 55 crore or Rs 550 million over the next five years through grants and setting up of incubators and co-working space across cities like Udaipur, Jodhpur and Kota.
"We know that we are not in the same league as the other states but we are witnessing a lot of growth now.
Big companies like Infosys and Genpact have set up bases here and Wipro and Tech Mahindra are on the anvil. We believe we are catching up fast," Rajasthan government Principal Secretary Industries Veenu Gupta told PTI.
She added that the policy came into force from October 9 and will remain in operation for a period of five years.
"The focus areas for the policy include social and cleantech, (water, sanitation, renewable energy and healthcare), mobile and IT and Internet of Things (IoT), electronics and hardware, and disruptive technologies," she said.
As part of the policy, 50 incubators or incubator-like organisations to be established, 500 innovative startups will be supported and one lakh sq ft of incubation space will be developed.
"We will work with all stakeholders -- students, startups and educational institutions. We also envisage angel and venture capital of Rs 500 crore will be mobilised for startups through the Policy," she said. T
he nodal institution for implementation of the Startup Policy is RIICO Ltd, Jaipur.
