BHOPAL: An epic boom of 81 per cent has been reported in startups and incubators for entrepreneurship after the Madhya Pradesh Startup Policy of the Department of MSME launched by Chief Minister Shivraj Singh Chouhan on February 23, 2022.
Speaking with Millennium Post, principal secretary (PS) of the MSME Ministry of MP and commissioner of the Department of Micro, Small and Medium Entreprises (MSME) P Narahari has said that the department has taken several steps to boost innovation-driven entrepreneurial culture in the state, and to inoculate its spirit among the immensely talented youth.
Startup India Scheme, launched by the central government’s DPIIT in 2016, is an initiative to promote and support start-ups by providing affordable business finance with a major objective of discarding restrictions such as licences, land permissions, environment clearances etc.
“Launching the Madhya Pradesh Startup Policy and Implementation Scheme-2022 by CM is one of the key initiatives towards empowering the startup ecosystem of the”, the PS said.
“Since the policy launched, a thumping boom has been witnessed in entrepreneurship, within a short span, 81 per cent of startups and incubators are increased in the state. Notably, a 93 per cent spurt is reported in the women-led startups”, Narahari said.
On March 31, 2022, there were 1,890 recognised startups and 32 incubators, as an outcome of the initiatives taken by the department, they were increased to 3425 and 50 as on July 31 this year respectively, the commissioner informed. women-led startups increased to 1550 from 800, he also said.
“Aiming to facilitate startups, the department has introduced MP startup portal which was launched by the honourable Prime Minister virtually last year”, Narahari further said.
He added that several other initiatives have also been taken for promoting entrepreneurs such as organising startup conclave and expo to benefit and support them (over 2000), setting up startup centre to efficiently implement the startup policy, executing of MoUs with 12 leading organizations, providing access to the market through exhibitions, organising the bootcamps at higher education institutes through incubators to entrepreneurship among students, honouring young startup achievers by the CM and etc. The commissioner also said that financial assistance of Rs 1.22 cr and 15 lakh have been disbursed to startups and incubators, and Rs 10 crore has been sanctioned for alternative investment funds.
Sessions have been conducted to promote the startup ecosystem during the recently held ‘Pravasi Bhartiya Diwas’ and Global Investor Summit, he further added.