New Delhi, Oct. 18 -- The Delhi Cabinet, chaired by Chief Minister Rekha Gupta, on Sunday approved the establishment of the Go-Delhi Foundation with an initial budget allocation of Rs.50 crore to support startups, young innovators and entrepreneurs in developing products and bringing them to market.
"Through the Go-Delhi Foundation, these resources will be brought together on a common platform, with a focus on developing new enterprises, attracting investment and creating employment opportunities," Gupta said.
Delhi has nearly 21,000 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), according to the government.
The foundation will provide startups and micro, small and medium enterprises (MSMEs) access to product engineering, prototyping, laboratories, testing facilities, technical guidance, mentorship, incubation and investor networks.
The initiative will help students and researchers convert ideas into practical products through prototyping support, intellectual property assistance, incubation and industry linkages. It will also facilitate product testing, certification preparation and market access. The foundation will adopt a hub-and-spoke model, working through existing infrastructure and partner institutions across Delhi to widen access to entrepreneurial support.
Government departments will also be able to share practical challenges with innovators, enabling startups to develop solutions that can be tested through pilot projects. Successful technologies could subsequently be considered for adoption by the departments.
This approach is intended to strengthen collaboration between the government, industry, educational institutions, investors and entrepreneurs.
The foundation will be established as a not-for-profit company under Section 8 of the Companies Act, 2013, and function under the Delhi government's Department of Industries.
The government aims to create a structured pathway from ideas to market-ready products and help emerging enterprises expand, attract investment and generate employment.
Published by HT Digital Content Services with permission from Millennium Post.