Startup India Policy For Haryana

The Startup India Haryana along with the state government of Haryana has started the “Entrepreneurs & Startup” policy 2017 which focuses on the establishment of startups and has the potential to solve all the economic and social issues by using innovative ideas and generate a large number of employment opportunities. The given policy would help the entrepreneur to have direct access to bring development in various sectors such as manufacturing, agriculture, infrastructure, and service industry.

Benefits For Haryana’s Startups

• Lease Rental Subsidy

Reimbursement of 25% in lease rental subsidy would be provided to the startup units in IT Parks and Industrial clusters for I year with a ceiling of Rs.1 lakh per annum.

• Patent Cost Reimbursement

There would be a benefit of cost reimbursement for the entrepreneurs for a maximum of three patent certification for them up to Rs2 lakh in the domestic circuit and Rs.5 lakh in the international circuit.

• Assistance for App Development

The government of Haryana would include software app development agencies for extending support for app development for the startups so that they would be able to reimburse 60% cost of app development with the ceiling of Rs.1 lakh per annum.

• Seed Grant

Startups in Haryana would be provided with Rs.3 lakh per startup for various fields such as prototype development, idea validation, traveling costs, market research, and skill training, and so on.

• Preference Procurement

The government would provide benefit to the startups by waiving off turnover requirements so long until the product of the startup meets the desired specifications.

• Annual Hackathon Competition

Haryana state would organize Smart India Hackathon where the startups would be invited to share their innovative ideas and if succeed; would be receiving monetary rewards up to Rs.1 lakh.

Eligibility Criteria for Recognition of Startups:

• The startup company should be a private limited company, registered as a Partnership firm or as a limited liability partnership in India
• The startup should be at the early phase of production
• They should be in business for seven years and in the case of Biotech companies; it should be a period up to 10 years
• They should not exceed an annual turnover of more than Rs.25 crore in any financial year
• Working on the basis of innovative development powered by internet-based technology

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