CHANDIGARH, AUGUST 17: Punjab Government through Startup Punjab Cell has been continuously working to boost Punjab’s startup ecosystem through various proactive steps like holding workshops, boot camps, and partnerships.
‘It was disclosed by Sunder Sham Arora, Industries & Commerce Minister while handing over Sanction Letters and cheques of Rs 3 lacs each to the startups at a ceremony organized by Startup Punjab.
The Minister said that the Government offers various fiscal incentives such as Seed Funding, Interest Subsidy, Lease Rental Subsidy.
Furthermore, all incentives which are available for MSME units are also available to Startup Units as per IBDP 2017.
Arora said that for the first time four startups have been approved Seed Funding of INR 3 Lakhs each after a due evaluation process by the State Level Committee on 30th July 2021.
These include M/s Grainpad Private Limited from Mohali, M/s Ygeiax Sciences Private Limited from Ludhiana, M/s Earth Naturals from Sangrur, and M/s Black Eye Technologies Private Limited from Ludhiana.
Arora further said that entrepreneurs have played an immense role in the economic growth of Punjab.
He said that Punjab Government is committed to strengthening the startup ecosystem of the state by providing mentorship, fiscal support, incubation and acceleration support, etc.
Hussan Lal, PS (Industries & Commerce, IT and IP) said that entrepreneurs from all districts of Punjab must apply online registration and for Seed Funding as well.
Twenty-nine startups have already registered from various sectors such as Agritech, Cleantech, Food Processing and Beverages, IT/ITeS, ESDM, Healthcare, Waste Management, etc.
He mentioned that an online transparent process was followed for the evaluation of applications by various Nodal Agencies.
Sibin C., Director, Industries & Commerce also State Startup Nodal Officer shared some of the recent initiatives of Cell to support startups in all possible ways.
