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CM Trivendra Singh Rawat flags off start up van, Venture Catalyst to invest Rs.100 crore in Uttarakhand

Dehradun: Uttarakhand Chief Minister Mr. Trivendra Singh Rawat flagged-off a “Start-up Van” at a function jointly organised by MSME and Central Government’s “Invest India” held at his residence. The renowned Start-up incubator company Venture Catalyst’s co-founder Apoorv Sharma in a bid to encourage start up in Uttarakhand announced to invest Rs 100 in the state on the occasion.

 Youths should generate employment opportunities for others :CM

Chief Minister, Mr Trivendra Singh Rawat has said that the main purpose to launch “Start-up” schemes is to encourage young entrepreneurs.  He said that youths from Uttarakhand should give employment to others instead of asking for job. He said that young entrepreneurs can give jobs to youths through start-up.  Uttarakhand has a huge potential in the field of natural resources for start Up’s.  He further said that youngsters comprise 58 per cent of the population of Uttarakhand. The government is committed to provide best environment for industries and  Uttarakhand ranks 6th in “Ease of Doing Business” in the country and the ranking is likely to improve in future, he added

Chief minister Mr. Trivendra Singh Rawat termed “Start-up Van” as a good initiative. He said instead of giving information on policies, future entrepreneurs should be identified as per their interest and their ideas or start-up schemes should be followed up.

 Venture Catalyst Apoorv Sharma announced to invest rs 100 crore in Uttarakhand

The co-founder of Venture Catalyst Apoorv Sharma is a native of Devprayag, Uttarakhand. He said that he wanted to do something for his native Uttarakhand. He said Venture Catalyst has launched “Oyo Rooms” in the country. Apoorv Sharma has announced to set up national and international level “Angel Network”  to provide funds to start-up entrepreneurs in the state.  He also announced to set up “Start-up Incubator” to support the initiative in Uttarakhand. He assured financial assistance for incubators in the state and said that Venture Catalyst would invest Rs 100 crore in the first phase.

 Youths would get direction through Start-up policy: MLA Joshi  

MLA Ganesh Joshi said that start-up policy will help give direction to the youth.  He suggested that a workshop for public representatives on government run employment schemes should be organised, so that they can sensitize youth about it.

  Effective response system should be made to reply queries and grievances of entrepreneurs: Chief Secretary

Uttarakhand  Chief Secretary, Utpal Kumar Singh has said that this start-up yatra should be taken to urban as well as smaller towns and rural areas of the state. He said that a faster forum should be provided to hear and answer the queries, grievances and response of young entrepreneurs.

Target has been set to benefit 24,000 youths through Start-up Yatra

Principal Secretary (MSME) Manisha Panwar has said that a decision has been taken to hold one-day boot camps in selected eight colleges and institutions in the state during this “Start-Up Yatra”. In the boot camp, inventions or suggestions or innovative ideas of students from specially engineering and management backgrounds will be discussed by subject experts and suggestions would be given to make it feasible. Besides, one day ideation camps will also be held in 13 colleges of the state. A target has been set to directly benefit 4000 and indirectly benefit 20000 youths through start ups. She said that the purpose to organize this ‘Yatra’ is to create awareness among youths about the financial assistance being given by the State and the Union Governments and the innovations done by other states so that youths can opt for self employment.

60 Start-up got government affiliation in state

A Start-up Council has been formed as per the Start-up policy of the state. A total of 60 start-up got government recognition till March, 2018 and soon they will start getting  financial support from the government.

2.77 lakh got employment so far

A total of 14163  units were there at the time of formation of the state, and Rs 700 was invested giving employment to 38509 persons. A whooping amount of Rs 11800 crore has been invested in 56416 units till February 2018 and 2,77,187 persons have been given employment .

What is incubator

An Incubator is an organisation that supports the start up entrepreneurs with  place, investment, training, advice, corporate and legal advice related issues and also assist them in their ideas and to develop an industrial model for them.

What is Start-Up Policy

The State government has launched a Start-Up Policy with an aim to sensitize college students to opt for self employment and become entrepreneur. For start-up entrepreneurs, the state government gives Rs 10,000 to Rs. 15000 monthly allowance, up to Rs 5 lakh for product development, Rs 7.5 lakh for marketing support and rebate in GST and stamp duty.  In a move to boost incubators, a provision has been made to sanction financial assistance up to Rs one crore, Rs two crore for matching grant, and Rs two lakh per year for running expense under the new policy. A Memorandum has been signed with Invest India, Industrial Policy and Development Department , Union Government in the presence of Uttarakhand Chief Minister, Mr. Trivendra Singh Rawat in October, 2017. As per the memorandum, Invest India is supporting Uttarakhand state to run and operate ‘Yatra’ in the state.

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