For the first time in Punjab, four startups have been approved for seed funding of Rs 3 lakh each after due evaluation process by the state-level committee.

The state government through Startup Punjab was committed to strengthening the startup ecosystem by providing mentorship, fiscal support, incubation and acceleration support.

About Stratup Punjab:

State has identified that Startup and Entrepreneurship as the key pillar for economic growth, job creation, competitiveness and wealth creation. Based on the Startup Action Plan of the Government of India and Standup India, and the Industrial and Business Development Policy 2017 of the Punjab Government, the Punjab Startup and Entrepreneurship Development Policy has been initiated.

The following are the goals that the Startup policy aims to achieve in Punjab:

• To facilitate 1000 startups in a period of 5 years.
• To set up 10 incubation accelerators in Punjab with a particular focus on Digital Manufacturing, Agro and Food Processing, Lifesciences, and Information Technology.
• To build strong linkages with the most significant institutions in the State.
• To facilitate around 50 Entrepreneurship Development Centres in colleges and universities around the State.