Gujarat govt soon to announce new policy for start-ups

State finance minister Saurabh Patel says govt will also announce policy for MSMEs

The Gujarat government will announce a new policy for start-ups to encourage new entrepreneurs in the state, Gujarat finance minister Saurabh Patel said on Tuesday.

“We will soon announce a start-up policy to encourage new entrepreneurs in the state. We have sought views of experts on the policy, as to what kind of push can be given in the policy and how young entrepreneurs can be helped,” said Patel, on the sidelines of a conference organised to give details of 9th industrial exhibition being organised by the Vadodara Chambers of Commerce and Industry (VCCI).  

Patel, who also holds the energy and petrochemicals portfolio, further said that the government will come up a new policy for Micro, Small and Medium Enterprises (MSMEs).

The announcement comes after the state recently declared its Electronics policy, IT policy and e-governance policy. Ahead of the Vibrant Gujarat Global Investors Summit (VGGIS), Gujarat government is organising road shows across various states in the country and countries abroad seeking investments into the state.

Gujarat will become the second state after Andhra Pradesh in south India to announce a separate start-up policy. Andhra Pradesh had declared the policy in September this year.

At the VCCI Expo 2014, the ninth industrial exhibition being organised by the VCCI in collaboration with the state government, Patel said special thrust would be given to innovators to showcase their expertise.

“Applications for innovations have already been scrutinised. Fifty-six youths have been given a chance and 115 new innovations would be displayed,” he said, adding that a panel of six people from Vadodara Innovation Council (VIC), iCreate, VCCI and legal department of the state government will guide each innovator on different aspects and each of them would be judged on their innovation capabilities to recommend them ahead.

Single window information centre for industry and traders have been set up at the exhibition, to be organised from November 27 to December 1 at Navlakhi ground in the heart of the city.  

The exhibition, where 600 stalls will be set up in 900,000 square feet area, will be inaugurated by Gujarat chief minister Anandiben Patel.