Delhi’s new startup policy:

GS Paper 2:

Topics Covered: Government policies and issues arising out of their implementation.

Context:

Delhi Cabinet has passed an ambitious Delhi Startup Policy.

Highlights and components of the policy:

• Entrepreneurship classes and a “Business Blasters Program” would be introduced at the college level, and the Delhi Government would support college students working on business ideas in every possible way.
• Delhi government will help startups get collateral-free loans which will be interest-free for a year.
• Delhi government will empanel CAs, lawyers and experts to aid startups for free; their service charges will be borne by the government.
• Students building startups while studying in Delhi government colleges will be able to seek 1-2 years of leave.

Implementation:

Three committees will be set up for the implementation and governance of the policy:

1. The Startup Policy Monitoring Committee: It will be headed by the Finance Minister of the Delhi Government. It will have members from educational institutions and the private sector.
2. Startup Task Force.
3. A Nodal Agency.

Idea behind the startup policy:

• The state government intends to encourage, facilitate and support 15,000 startups by 2030 under the Delhi Startup Policy.
• The project aims at creating entrepreneurs and business leaders out of the Delhi youth.

Delhi as a startup hub:

Delhi, in 2022, overtook Bengaluru to become the startup capital of India.

• According to Economic Survey 2021-22, over 5,000 recognised startups were added in Delhi between April 2019 and December 2021, while 4,514 startups were added in Bengaluru.

Know about Start-up India scheme here.

Insta Curious:

Do you know about the Startup India Seed Fund Scheme? Reference: read this.

InstaLinks:

Prelims Link:

1. About Delhi start-up policy.
2. What is Startup India scheme?
3. About the Startup India Seed Fund Scheme (SISFS).
4. Eligibility.
5. Benefits.

Mains Link:

Discuss the significance of the Startup India Seed Fund Scheme (SISFS).

Try this Question:

According to Economic Survey 2021-22, between April 2019 and December 2021, highest number of startups were added in:

1. Delhi.
2. Bangalore.
3. Mumbai.
4. None of the above. 

Sources: Indian Express.