 "startups")
The Rajasthan government is planning to make the state a hub for start-ups.
An industry department official said, “The state government plans to provide a fund of Rs 250 crore under the Rajasthan Venture Capital Fund (RVCF). The money will be given to youths for setting up start-ups and industries based on modern technology.”
He added that the government proposes to increase the matching share to Rs 1 crore from Rs 25 lakh earlier, which is provided to start-ups through the iStart fund.
iStart Rajasthan aims to foster innovation, create jobs and facilitate investment in the state. It is an integrated platform and single-window resource for start-ups, investors, incubators, accelerators and mentors.
The official added that the government will set up and run iStart Launchpad Nest in select schools/colleges for villagers and students. It will also set up an incubation and innovation centre at Guru Govind Guru Tribal University, Banswara, for youths in tribal areas. The government plans to increase the amount of the first award to Rs 5 crore from Rs 2 crore under the Rajiv Gandhi Innovations Challenge, with a cost of Rs 75 crore.
Rajasthan has around 3,490 registered start-ups, including 795 in rural areas. Till now, more than 25,648 jobs have been created through these start-ups and a total ofRs 492 crore has been invested.
In the state’s start-up policy for 2022, incubators, accelerator programmes and investors are being given assistance along with facilities like a free place, connectivity, mentorship, market connect as well as VC and investor connect, among others.
