The Rajasthan Chief Minister, Vasundhara Raje, today unveiled the ‘Rajasthan Startup Policy – 2015’ while inaugurating the first edition of the ‘Rajasthan Startup Fest’, a national level startup event designed to boost entrepreneurship in the state.
A the event, Raje said that “If Bangalore is where it all began in startups, I can assure you Rajasthan is where it will be. Rajasthan is a world-beater and will remain so in the times to come.” The state’s Startup Policy has been created to boost the startup ecosystem, and support entrepreneurial talent native to the state.
Also, CS Rajan, Chief Secretary, Government of Rajasthan, said that Jaipur has now overtaken Bangalore in terms of the number of deals that have happened in the last 6 months in angel funding and venture capital funding. “Jaipur is fast becoming the next startup hub of India with excellent social and physical infrastructure, low cost of living, large number of technical and professional colleges and proximity to NCR,” he said.
The ‘Rajasthan Startup Fest’ has been organised by the Rajasthan State Industrial Development & Investment Corporation (RIICO); Startup Oasis, a Jaipur-based incubation centre set up by RIICO and CIIE; and the Centre for Innovation, Incubation & Entrepreneurship (CIIE) of the Indian Institute of Management (IIM), Ahmedabad. Its an effort to bring together over 500 individuals from the startup ecosystem, including startup promoters, investors and mentors.
Key highlights of Rajasthan Startup Policy 2015 include
Key 5-Year Targets identified by the Rajasthan Startup Policy 2015:
- 50 Incubators / Incubator-like Organizations to be established.
- 500 innovative startups to be supported and incubated.
- 100,000 sq ft of Incubation Space to be developed / facilitated.
- Angel and Venture Capital of Rs 500 Cr to be mobilized for startups.
- Development of an Innovation and Problem Solving Culture across the State.
Key Focus Areas of the Rajasthan Startup Policy:
- Social and Cleantech – Rural Infrastructure & Services, Crafts, Water, Sanitation, Renewable Energy and Healthcare, including asset light models of healthcare delivery and medical devices.
- Mobile and Information Technology, including but not limited to crowd sourcing, crowd funding, online financial services
- Internet of Things (IoT), Electronics and Hardware.
- IT for X’ in the areas of Garment and Crafts, Mining and SME Manufacturing and Services.
- Disruptive ideas/Technologies in any sector
Through the announcements made at the event, it appears that the Government is aggressive about making Rajasthan one of the top startup hubs in the nation. In August 2015, Indian Finance Minister Arun Jaitley had announced a Rs. 2,000 crore fund to support startups in the country.