Fewer licenses, less paperwork & a caveat to encourage students to start businesses

New Delhi: After having held more than 70 meetings with key stakeholders, the Delhi government is now ready to roll out its new start-up policy by July this year — with measures to reduce the number of licences required to start a business, measures to cut down on paperwork, and a procedure to fund start-up business ideas that Delhi government school students may come up with.

According to senior officials in the Delhi government, this announcement comes as several industries are still struggling to pull back up due to the pandemic's effects. This is seriously affecting the state's dwindling economy, one official working on the new start-up policy told Millennium Post.

Key features of the policy will include easing the paperwork process and foregoing several licenses that are otherwise required. "Various conditions of starting a business will be eased, and enthusiasts can write to the government seeking help in the process which will be looked into," another official aware of the development said.

"In a bid to encourage more start-ups in the city, the government wants to support such industries and boost the economy of the state. The government wants to ease the process for start-ups in the city so that more people can come forward," he said.

In order to start a business or venture, various licenses are required, acquiring all of which might become cumbersome and unnecessarily time-taking. Officials are working on how to reduce the number of licenses required, the official said.

"For example, a health license is required when someone wants to open a restaurant but with the advent of the policy, this will not be required," the official said.

Through the policy, the Delhi government will provide collateral-free loans and set up a dedicated helpline for start-ups to address their concerns and avail the government's doorstep service.

The students of the Delhi government schools will also be encouraged to come forward with their business models and be supported by the state government in their respective ventures, the above-mentioned official said.

In December, while quoting a report, Chief Minister Arvind Kejriwal had said that there are over 7,000 start-ups in the Capital which makes it the city with the highest number of active start-ups in the country — an estimated valuation of about $50 billion.

The CM's vision is to turn Delhi into a global start-up destination, he had said. The policy will focus on providing infrastructure and services for start-ups and businesses in power supply, roads, public transport, water supply, education, and health infrastructure.