Goa govt certifies 17 startups under state policy

By Press Trust of India|31st Aug 2019
Goa's startup policy envisages creation of at least 100 successful startups in the coastal state in the next five years, with an aim to create at least 5,000 employment opportunities for Goans.
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 The Goa government has certified 17 startups under its policy and approved "incentive disbursement" worth Rs 82 lakh for 13 certified companies.


This announcement was made by Chief Minister Pramod Sawant while chairing a meeting of the high-powered committee, formed under Goa Startup Policy 2017, at Secretariat here on Friday.


State Information Technology Minister Jeniffer Monserratte was also present.


"A total of 17 startups were certified and incentive disbursement worth Rs 82 lakh was approved for 13 certified companies. This is a major boost to our homegrown startups," he said.


The Startup Policy, approved earlier this year, aims to make Goa an aspirational geographical and human resource base for startups.


The policy envisages creation of at least 100 successful startups in the coastal state in the next five years, with an aim to create at least 5,000 employment opportunities for Goans.


Although Goa's state formulated its policy in 2017, the real rollout began only in 2018, with the launch of the startup policy in April.


Then, the Goa government said that it will be providing various incentives such as IT infrastructure reimbursements of Rs 1 lakh per quarter to startups, which is the maximum permissible limit.


The state also planned to encourage 100 early-stage ventures to succeed in the next five years. It has created an internet-based single window portal exclusively for startups as well as a startup promotion cell.


The Goa government also provided several capital incentives in terms of R&D expenses and salary expenses when they hire local talent, etc. The startup policy has also promised to expand base of digital talent in the state.


Along with the state of Goa, other states such as Uttarakhand, Maharashtra, Meghalaya, Manipur as well as Jammu and Kashmir have also launched their startup polices in the recent past. Most of these startup policies for these states were launch between 2017 and 2018.


(Disclaimer: Additional background information has been added to this PTI copy for context)


(Edited by Rekha Balakrishnan)


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