Startup India Gujarat Policies

Gujarat Government has provided various assistance to the startups with the Startup India Gujarat schemes as they are an important indicator of the technological performance of any state. The reason behind this is that two-thirds of the population of Gujarat comprises in younger age group and that’s why the government is focusing on enhancing entrepreneurial skills among the youth.

BENEFITS FOR GUJARAT’S STARTUPS

• Sustenance Allowance

The Gujarat Government would provide Rs.10,000 as a sustenance allowance to the entrepreneurs for one year.

• Assistance in Infrastructure

Fiscal benefits would be provided to the startups in assisting in the proper development of their infrastructure which includes Rs.10 lakhs assistance for bearing the cost of raw materials which would be required for the innovative process so as to properly develop a new product.

• Mentoring Assistance

The government would provide mentoring assistance of Rs.5 lakhs per annum to some startups so as to get free access to government labs, PSUs, SDCs so as to propagate their innovative ideas significantly.

• Marketing Allowance

The startup would be benefited in promoting its innovative products in the market by getting the assistance of Rs.10 lakhs for marketing or publicity campaigns.

• Reimbursement in Stamp Duty and Registration Fee

For the first transaction, the startups would be benefited in getting 100% reimbursement on the stamp duty and registration fee which would be paid by the transfer of land, sales, or lease.

• Incentives

Startups would also receive various incentives such as subsidy on power tariff at the rate of Rs.1 per unit as a promotion incentive for a period of five years. Moreover, there would be 100% reimbursement would be provided for payment of electricity duty for five years which would be based on power tariff.

ELIGIBILITY CRITERIA

• An individual with innovative ideas and whose project is recommended by the Screening Committee are eligible for availing the benefits provided by the Government of Gujarat
• For startups who have worked for five years from the date of registration could avail the benefits
• Those startups are eligible whose turnover for any fiscal year do not exceeds Rs.25 crore
• Working on the basis of innovative development powered by internet-based technology
• To obtain tax benefit, the startups would receive certificate from Inter-Ministerial Board of Certification

Click here if you wish to get your Startup recognized under the Startup India Program.