Three points you will get to know in this article:
• Delhi government finalizes draft of startup policy to support and encourage 15,000 startups by 2030.
• The policy includes collateral-free loans, expert guidance, and support for college students.
• Delhi aims to establish itself as a global innovation hub and preferred location for startups by creating a supportive ecosystem for entrepreneurship.
The Delhi government’s Industries Department has recently put the finishing touches on a draft for its startup policy, aiming to foster and back 15,000 startups by 2030. As per a report from TOI, the policy encompasses aspects such as interest-free loans, mentorship from industry experts, and backing for college students.
Looking ahead to 2030, the Delhi Startup Policy aspires to position the city as a worldwide innovation hub and the favored destination for startups. The overarching objective is to cultivate a nurturing environment for economic growth fueled by innovation, fostering entrepreneurship through robust support systems. Delhi’s Chief Minister, Arvind Kejriwal, emphasized that the policy not only extends financial aid but also delivers a comprehensive spectrum of assistance to entrepreneurs.
The research team at Delhi’s Dialogue and Development Commission (DDC) has delved into detailed, face-to-face discussions with startup founders in the NCR region. Their goal is to gain profound insights into the hurdles these entrepreneurs have encountered, the potential impact of policy interventions on fostering entrepreneurship, and the inherent advantages that Delhi provides to startups.
As part of their proactive approach, the department has not only submitted an action-taken report but is also in the final stages of crafting a proposal for the Dilli Bazar portal. This innovative digital platform aims to establish connections with customers on a national and global scale. Additionally, there are plans to transform Shahdara under the ‘One District One Product – District as Export Hubs’ initiative. In its initial phase, the portal is set to showcase the offerings of 10,000 vendors.
The DDC’s engagement reflects a commitment to comprehensively understand and address the needs of the startup community, while the initiatives like the Dilli Bazar portal exemplify a forward-looking strategy to boost local and global market access. The Delhi government has set its sights on bringing over 100,000 local shops onto the Dilli Bazaar portal in the next six months, creating a vibrant digital marketplace that operates around the clock. This initiative promises a distinctive virtual journey, allowing users to immerse themselves in the diverse markets of Delhi.
Back in 2022, Arvind Kejriwal, the Chief Minister of the National Capital Territory of Delhi, introduced the Delhi Startup Policy on a memorable occasion. This comprehensive policy comprises a series of forward-looking measures aimed at streamlining the entrepreneurial landscape in the heart of India and positioning Delhi as the country’s premier startup hub.
During the announcement, Kejriwal enthusiastically remarked, “We’ve put in place a variety of measures to foster a business-friendly atmosphere in Delhi NCR. Our provisions are tailor-made to nurture entrepreneurship in the capital, reflecting our commitment to creating a thriving business community.”
The Delhi government has finalized a draft of its startup policy with the aim of supporting and encouraging 15,000 startups by 2030. The policy includes provisions for collateral-free loans, expert guidance, and support for college students. By establishing a supportive ecosystem for innovation-driven economic growth, Delhi aspires to become a global innovation hub and the preferred location for startups. The government’s research team is actively engaging with startup founders to understand their challenges and explore policy interventions. Additionally, plans are underway for the Dilli Bazar portal, a digital platform connecting vendors with customers nationally and globally, with the goal of onboarding over 100,000 shops in six months.
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