Startup India Policies Of Himachal Pradesh

Govt. of Himachal Pradesh (HP) has established an ecosystem for supporting startups and innovative projects so as to transform the educated youth of the state from job seekers to job creators via the provision of right skill and entrepreneurial skill in the state. The aim of this scheme is to facilitate and promote innovation by investing more in the startups.

BENEFITS OF STARTUPS IN HIMACHAL PRADESH

• Incentives

There are various incentives under this scheme for the benefit for the startups in HP. First would be the provision of allowance of Rs.25,000/- per month for those innovation projects which are approved by Empowered Committee for one year. Secondly, the government would open incubation center for supporting startups by providing mentoring services, access to labs and free-of-cost facilities.

• Assistance in Marketing

The government of HP would provide assistance of a maximum of Rs.10 lakh for the marketing of the product so that they could launch their product in the market without any issues.

• Patent Filling Cost

The startups would be provided with reimbursement of Rs.2 lakh for Indian patent and Rs.10 lakh for International patent.

• Land Availability

The startups operating in micro and small-scale business would be provided for setting of infrastructure for land at the concession rate of 50%.

• Concession in Stamp Duty

All the startups which would be set up in HP would be provided concession in the stamp duty @ 3% after notification provided by Revenue Department of HP.

• Interest Subvention

The startups who are doing investment in MSE with Rs.25 lakh would be receiving interest subvention @5% up to the loans of Rs.25 lakh for three years.

ELIGIBILITY CRITERIA

• The startup company should be a private limited company and should be registered as a Partnership firm or as a limited liability partnership for setting micro and small scale industries in India
• The companies should have worked in any industry for at least five years from the date of the registration
• Those startups which are set up purely for propagating innovative ideas with updated technologies
• They should not exceed the annual turnover rate of Rs.25 lakh in any financial year

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