Collateral-free loans, world-class infra: CM lays out plans to make Delhi a start-up hub

New Delhi: Chief Minister Arvind Kejriwal on Wednesday laid out plans of his government to make Delhi a global startup hub through collateral-free loans, world-class infrastructure and best quality human capital.

Addressing Indus Entrepreneurs (Tie) Global Summit, he said there are over 7,000 startups in Delhi which makes the city having the highest number of active startups in the country, with an estimated valuation of about USD 50 billion.

"The Delhi government is at an advanced stage of rolling out a start-up policy. As part of the startup policy, we plan to provide collateral-free loans and set up a dedicated helpline for startups to address their concerns and help them use the government's doorstep service," he said.

"We are committed to taking as much as it takes to make Delhi a global startup hub," asserted the chief minister, adding, "We want to create all the necessary conditions for businesses, and especially, startups to flourish."

He said between January and June this year, 109 startups were founded in Delhi-NCR, the highest number of startups being founded in the first six months of 2020 in India and that Delhi-NCR is set to become one of the top five global startup hubs with 12,000 startups and 30 unicorns with a cumulative valuation of around USD 150 billion by 2025.

"The Delhi government is committed to providing world-class infrastructure and services for startups and businesses in Delhi. This includes, power supply, roads, public transport, water supply, education, and health infrastructure," he added.

"In order to help startups grow, we will form a range of networks with incubators, co-working spaces, and fabrication labs. These networks will leverage the provisions of existing stakeholders in the market. We will also enable easy access to experts who can aid startups with accounting, taxation, registration, legal help, digital marketing, and other such services," he said.

The Delhi government will align its public procurement in a manner that a fixed percentage of all goods and services are procured through recognised startups, Kejriwal said.

The Education Department is in the process of engaging close to 17,000 entrepreneurs for classroom interactions with students on EMC. For the best quality of human resources, Delhi Skills and Entrepreneurship University will upskill students and ready future-entrepreneurs of the country, he said.

The university's first academic session is expected to start next year and it will have the capacity of enrolling at least 1,25,000 students in different courses.