Startup policy: Goa aims to feature in top 25 hotspots in Asia

"Goa government has unveiled its policy to make the coastal state one of the most preferred startup destinations in India and make it feature among the top 25 startup hotspots in Asia by 2025.

The 'startup' policy, unveiled last Saturday by Union commerce and industry minister Suresh Prabhu in presence of state information and technology minister Rohan Khaunte, aims to create at least 100 successful startups in Goa in the next five years, and generate at least 5,000 jobs.

The policy document which is uploaded online on state government website said that the vision of this policy would be "to make Goa one of the most preferred startup destinations of India, and make it feature in the top 25 start up destinations in Asia by 2025".

The startup policy, which would be in force for the next three years, will also provides financial incentives to the entrepreneurs with an aim to make Goa an aspirational geographical and human resources base for high-value startups.

It also intends to invite the best entrepreneurial minds to make Goa their professional base.

"The endeavour is to create at least 100 successful start ups in Goa in the next five years, targeting generation of employment for atleast 5,000 Goans," the document said.

The state government intends to develop a minimum 200,000 lakh square feet area for technology innovation and incubation centres in the next five years, it added.

The policy aims to to infuse technology-enabled real world problem solving skills into the Goan education system through collaboration between industry, academia, and through the introduction of DIY (do it yourself) modules as part of school curriculum, and online open courses as part of university curriculum.

It stated that as part of Goa government's commitment to promoting startups and "incubators in the state, the government would strive towards developing world class infrastructure through different models.

"Government of Goa intends to actively support the setup, operations and growth of eligible startups based in Goa through various incentives listed in this section," the policy document said.

All startups in Goa will be eligible for interest subsidised loan from the government. The extant norms of the chief minister's 'Rozgar Yojana' will be modified for this purpose, according to the document.

The government, through the committee headed by the chief minister, will be authority in disbursing and deciding the incentives, the policy read, adding which will be done as per schemes and details rolled out pertaining to every incentive detailed in this policy.