By Chandan Singh | Page 3 News Worldwide | New Delhi
New Delhi: The Delhi Cabinet has approved a new Start-up and Incubation Policy aimed at transforming the national capital into a leading innovation and entrepreneurship hub, with an investment of more than ₹400 crore over the next five years.
Chief Minister Rekha Gupta said the policy seeks to empower young entrepreneurs by providing financial assistance, mentoring, infrastructure and industry linkages, enabling students and innovators to convert ideas into commercially viable businesses. “Our goal is to make Delhi’s youth job creators rather than job seekers,” she said.
This policy will be applicable to 11 state universities, 13 government-funded colleges, polytechnic institutes, and Industrial Training Institutes (ITIs), while students from government schools can avail themselves of the benefits of this policy at these institutions. Students who succeed will be provided with financial assistance.
Start-ups incubated under the programme will receive milestone-based funding covering prototype development, proof of concept, product development, market validation and commercialisation. Entrepreneurs will also gain access to business advisory services, intellectual property support, laboratories, testing facilities and investor networks.
As part of the initiative, the government will launch an Annual Delhi Start-up Youth Festival, bringing together innovators, educational institutions, investors, industry leaders and policymakers to showcase emerging ideas, encourage collaboration and promote entrepreneurship.
Implementation of the policy will be overseen by the State Incubation Policy Monitoring Committee (SIPMC), comprising representatives from government, academia, industry and the start-up ecosystem. The committee will monitor execution, ensure transparency and facilitate performance-based financial support.
The Delhi Government said the policy is expected to strengthen the city’s innovation ecosystem, encourage research-led entrepreneurship, generate employment and accelerate the growth of a knowledge-driven economy.
