Startup India Chhattisgarh Policies

The Chhattisgarh Government believes that innovation is the milestone to achieve progress and every single innovative data makes it easier for the government as well as individuals to negotiate the business of life. A specific policy has been formulated by the State Government called Startup India Chhattisgarh to attract ignited minds to shape their ideas and given wings to their dreams of becoming job creators. The government would try to open innovation startups in the field of health, education, agriculture, mining, skill, and tribal development so as to usher a period of growth in the whole state.

BENEFITS FOR STARTUPS IN CHHATTISGARH

There are various provisions of funding at various stages of the establishment of the startup in Chhattisgarh. First is the innovation fund which could be used to set up a startup within three years and would bear the cost of several procedures such as setting up of infrastructure, bearing operational expenditure, organizing local, national and international events, provision of financial support to the startups and attracting bright innovators and scientists to the state. Second is the provision of a special Leap of Faith Revolving Fund through which a struggling startup would be able to avail a fund of Rs.50 lakhs of an interest-free loan for their initial years.

Co-working space would be provided to the new startups with the existing startups which would help them to learn important points about how to run the business in an effective manner. Besides, a good market linkage is provided to the startup with top corporates so that they would be able to test their new products and could gain good experience with them. Besides, the startup would also be able to connect with its investors which would help them to present their strong case in front of the industry so that the investors could invest in them in an effective manner.

Eligibility Criteria for Recognition of Startups:

The startup should register itself in the state incubator to get eligible to avail services

• The startup should be certified from a Nodal Agency
• The facilities provided by the government of Chhattisgarh shall be utilized for the development of infrastructure and equipment purchases and in no other activities. Investors not following this criterion would not be eligible to avail the benefits of the startups
• The startup should be at the earlier stage of their establishment to avail the benefits

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