India, July 17 -- In a major push to innovation and entrepreneurship, the Delhi Cabinet on Thursday approved the Delhi Start-up and Incubation Policy, under which the government will invest more than Rs 400 crore over the next five years to build a robust start-up ecosystem across higher educational and technical institutions. The policy aims to provide financial assistance, incubation support and mentorship to aspiring entrepreneurs, with Chief Minister Rekha Gupta asserting that the initiative will help transform Delhi's youth into "job creators, not job seekers." Announcing the decision, Gupta said the policy is designed to make Delhi one of the country's leading hubs for innovation and entrepreneurship. "The initiative is not just about helping people launch start-ups, but about transforming Delhi's youth from job seekers into job creators. We want to ensure that students, researchers, teachers, alumni and aspiring entrepreneurs with promising ideas never face a shortage of resources, mentorship or financial assistance to take those ideas forward," she said. The policy will be implemented across 11 state universities, 13 government-funded colleges, polytechnic institutes and Industrial Training Institutes (ITIs). Students from government schools will also be able to avail the policy's benefits through these institutions, and successful students will receive financial assistance. Eligible institutions will receive one-time financial assistance to establish incubation centres, along with annual operational support for mentoring, networking and innovation activities. Start-ups incubated under the scheme will receive milestone-based financial support covering prototype development, proof of concept, product development, market validation and commercialisation. The incubation centres will also provide entrepreneurs with modern infrastructure, expert mentoring, business advisory services, intellectual property support, access to laboratories and testing facilities, besides facilitating connections with investors and industry.As part of the policy, the government will also organise an Annual Delhi Start-up Youth Festival, bringing together innovators, educational institutions, start-ups, investors, industry representatives and policymakers. "The festival will serve as a platform to showcase new ideas, foster new partnerships and encourage young entrepreneurs to take their ventures forward," the Chief Minister said. Implementation of the policy will be overseen by the State Incubation Policy Monitoring Committee, comprising representatives from the government, educational institutions, industry and the start-up ecosystem to ensure transparent governance and performance-based financial support.
Published by HT Digital Content Services with permission from Millennium Post.