In the last decade, India spent less than 1% of the GDP for R&D and Innovation. R&D in India is still largely financed by the government sources. There are around 5,000 Startups world over, in which 2000 are in United States and 1000 are in China. India has only 65 incubators. Countries like Netherlands, Singapore, Sweden, etc. have been giving more importance to R&D and Innovation. India is poised to become the youngest country by 2020 with an average age of 29 years, accounting 28% of the world's work force. In view of this, the State needs to explore scientific and technology ecosystems through Startups & incubators that would further empower the youth.
More than 60% of Gujarat Population is in the age group of 15-59. A young population means a young workforce, which, in turn, implies a more innovative and entrepreneurial mind set. The Government is focussed strongly not just on the employability but also on initiating the Startups Incubators/ Centers for developing entrepreneurial skills in the youth.
Startups in an economy's technology sectors is an important indicator of technological performance for several reasons: first, the formation of new firms that focus on the development and introduction of new technology is a major source of innovation and technological advance. Many of these Startups transfer new knowledge or new ideas into products and processes into commercial applications. Startups are likely to bring in new solutions and challenge established by individuals/ companies that enter these new markets.
In view of the strategy under New Industrial Policy the Government is pleased to introduce a "Scheme for Assistance for Startups / Innovation" which will come into force from the date 1.1.2015 and will remain in operation for a period of five years.
Government Resolution No. MIS-102014-924909-I, Dt 27-01-2015
Operative Period :
Assistance to Startups/Innovation scheme’s operative period is 01 January, 2015 to 31 December, 2019
Eligibility of Applicants
Any individual/group of individuals having innovative idea/Concept will be eligible.
Eligibility for Institutions
Universities/education institutions, Incubation Centre/PSUs/R&D Institutions/Private and other establishments will be eligible as an institution to support and mentor to innovators as approved by Committee.
Assistance for Innovation
1. Rs. 10,000/- per month will be provided to the innovator as sustenance allowance for one year whose project is recommended and approved by institution’s Screening Committee.
2. Up to Rs. 5 Lakhs assistance will be provided to the institution for mentoring service annually.
Up to Rs. 10.00 Lakhs assistance will be provided for Cost of Raw Material/Components & other related equipment required for the innovative process for the new product development based on approval of the Screening Committee.
3. Institution will support to the innovator by providing mentor services.
Institution will allow the innovator to use facilities available in the institution for start ups.
Govt. will support selected innovator to get free access to University/Libraries/Govt. Laboratories/SDCs(GIDC)/CoE/PSUs to have more clarity on his innovative ideas/concept.
Assistance once the Idea/Concept get commercialized
4. Marketing/publicity assistance of up to Rs. 10.00 lakhs will be provided for the introduction of innovated product in the market.
5. Project of Innovated Product will be assisted in getting Venture Capital.
VAT Related Incentive:
The eligible unit shall pay the net VAT payable under the provisions of the Gujarat VAT Act, 2003 in the Government treasury.
The eligible unit will be allowed reimbursement to the extent of 80% of the net VAT paid excluding the following: (a) Additional Tax, and (b) Reduction of ITC as per the provisions of the G VAT Act, 2003.It is clarified that the amount paid on account of additional tax and the reduction of ITC as per the provisions of the G VAT Act, 2003 shall not be reimbursed.
Only 70% of eligible fixed capital investment of eligible unit will be considered for reimbursement.
The reimbursement will be available for a period of five years from the date of production or the completion of limit of 70% whichever is earlier.
The eligible unit shall be entitled for reimbursement up to 1/5th of eligible limit in a particular year.
Restrictions will he made to ensure that the amount reimbursed is not again claimed by the subsequent dealers by way of tax credit for interstate sales, branch transfer, consignment and export.
The eligible unit shall manufacture the goods in its own unit for which it is eligible for incentives.
The eligible unit shall not transfer its business during the incentive period, nor assign its rights and responsibilities to any other agency.
The eligible unit shall remain in production during the incentive period.
The scheme shall be reviewed under the GST regime, but the total of assistance shall not exceed that available under this scheme.
The project will be eligible for other benefits available under MSME schemes
|Member Name||Member Field||Photo|
|Prof Mihir Shah||Engineering|
|Ms Bhagyesh Soneji||Health Care / Pharma|
|Mr Jaimin Shah||Information Technology|
|Mr Haren Shah||Electronics / Information Technology|
|Mr Vikrant Vala||Management / Finance|
|Dr Dharmendra Manadaliya||Engineering|
|Mr. Tushar Panchal||Management|
|1.||Startup / Innovation Policy by Industries and Mines Department||Download|
|2.||IT & ITes & Electronic Startups Policy by Department ofScience and Technology||Download|
|3.||Student Startup Innovation Policy||Download|
|4.||Biotech Mission Policy||Download|
|5.||Science, Technology and Innovation Policy of Gujarat||Download|
|6.||Incentive to Women Led Startups||Download|
How it works ?
The step-wise procedure, The applicant needed to follow, is as shown below;
|Step 1||The institution which intend to promote the Startups, will submit its proposal through online application form for approval of State Level Implementation Committee (SLIC) as Nodal Institute.|
|Step 2||The innovator will approach institution with his proposal of innovative idea/concept for recommendation.|
|Step 3||The Committee will approve idea/concept of an individual or group of individuals duly recommended by institution.|
|Step 4||The institution will submit proposal to IC office to avail assistance for providing mentoring services and the committee will sanction the assistance based on number of innovators.|
|Step 5||The institution will submit proposal to Industries Commissioner to avail assistance for Cost of Raw material/ components & other related equipment required for innovation.|
|Step 6||The selected candidate whose project is approved by the committee will be eligible for sustenance allowance for one year and it will be paid by Industries Commissioner. Assistance to the Nodal Institution will be released by Industries Commissioner.|
|Step 7||Once the idea get commercialized, the Innovator will apply to Industries Commissioner to avail benefits such as venture capital assistance, marketing/publicity support and apply to DIC for assistance under MSME scheme and Net VAT reimbursement etc.|
|Sr. No.||Applicant's Name:||Company Name/Proposed Company Name:||Type of Business:||Sustenance Allowance||Prototype Development||Screening|
|1||Jatin patel||WEpaint||Product||Rs. 1.2 lakh||Rs. 8.0 lakh||NI-1|
|2||Yash shah||E-Swasthya||Service||-||Rs. 5.0 lakh||NI-1|
|3||Shital gohil||Styledod (Eazyhomez Designs and Decors Pvt. Ltd )||service||Rs. 1.2 lakh||Rs. 8.0 lakh||NI-1|
|4||Divesh aswani||Youth Connect||Platform||Rs. 1.2 lakh||Rs. 3.0 lakh||NI-1|
|5||Mohak kabaria||Somras Nutri Pvt. Ltd||Product||-||Rs. 10.0 lakh||NI-1|
|6||Anand Mundhawa||CPM Industries||Product||-||Rs. 10.0 lakh||NI-1|
|7||Manan patel||Vision Greentech||Product||Rs. 1.2 lakh||Rs. 5.0 lakh||NI-1|
|8||Amit Anand||Kredib||Service||Rs. 1.2 lakh||-||NI-1|
|9||Dr.Sheryas Goswami||Medileo||Service||Rs. 50,000||NI-1|
|10||Kaustubh Mod||Mod Engineering||Product||Rs. 1.2 lakh||Rs. 6.0 lakh||NI-2|
|11||Sanket Panchal||"SA" INDUSTRIES||Product||Rs. 1.2 lakh||Rs. 10.0 lakh||NI-3|
|12||Anshul Jain, Anjil Jain||vinspire agrotech||Product||-||Rs. 10.0 lakh||NI-3|
|13||Keyur Punjani||Stardust Technologies||Product||-||Rs. 10.0 lakh||NI-3|
|14||Sarthak Baxi||Greenvolt Mobility LLP||Product||-||Rs. 10.0 lakh||NI-3|
|15||Nirmalkumar||Velogati Automative pvt ltd||Product||-||Rs. 10.0 lakh||NI-4|
|16||Prashant Kishorbhai Pathak||Inseminoscope||Product||Rs. 1.2 lakh||Rs. 5.5 lakh||NI-4|
|17||Archan Mehta||Aishani Enterprise Pvt Ltd||Product||-||Rs. 10.0 lakh||NI-4|
Updated as on 01-09-2018