Gujarat State announced its Startup Scheme in January, 2015 along with the Industrial Policy 2015. Under the scheme, Industries Department approves Nodal Institutions (NIs) based on proposals submitted by Nis. NIs are responsible for inviting proposals from Startups, evaluating them and provides incubation and mentoring facilities. Financial support is provided by Industries department to NIs and to Startups through NIs.
Who can apply?
- Any individual/group of individuals having innovative idea/Concept will be eligible.
- 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.
Benefits:
- 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.
- 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.
- Marketing/publicity assistance of up to Rs. 10.00 Lakhs will be provided for the introduction of innovated product in the market.
- 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.
- 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 project will be eligible for other benefits available under MSME schemes.
How to apply?
Applicants shall fill the online application form on the www.startupgujarat.in website and follow the instructions.
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