Maharashtra State Innovative Startup Policy to be revised soon

Maharashtra's innovative startup policy will be revised soon as the state government looks to aggressively support startups across sectors, said Dr Ramaswami N, CEO, Maharashtra State Innovation Society, the nodal agency of the Government of Maharashtra to support and promote startups in the state.

The Maharashtra State Innovative Startup Policy 2018 was announced under the Department of Skills, Employment, Entrepreneurship, and Innovation to promote startups and innovation in the state. Maharashtra State Innovation Society was appointed as the nodal agency for the effective implementation of the policy. 

Speaking at a panel discussion on Wednesday at TechSparks Mumbai 2023, Dr Ramaswami commended the work done by Mumbai-based startups across sectors and said the state government is specifically looking to support deeptech companies, women entrepreneurs, and startups with a high impact in rural reach. 

“Initial capital is the core for any startup for getting into the business. We give Rs 15 lakhs grant, without any condition, under our annual flagship programme ‘Startup Week’ and a chance to pilot with the government,” he said, and added that the state government has successfully concluded five editions of the programme and supported around 120 startups across sectors till date.

Dr Ramaswami also spoke about the recent initiates undertaken by the nodal agency, including the Maharashtra Virtual Incubation Centre, in partnership with co-working space provider  91springboard Business Hub. 

“Many co-work spaces have offered to join us. We are planning to go for micro incubation centres next, especially at institutions like ITIs,” he said.