The Gujarat government is under the works of a separate policy for technology driven start-ups, flagged to be released in a couple of weeks. The proposed policy, being prepared by the Department of Science and Technology, will target more than 2000 tech-based start-ups over the next fiver years that have received at least one round of venture capital funding.
State IT, sciency and technology secretary Dhananjay Dwivedi, speaking on the sidelines of the 'Start-up Summit' organised by the Internet and Mobile Association of India with support from Google, said, "Under the policy the government aims to establish 100 incubators in Gujarat and develop one million sq ft of incubation space besides facilitate investment of $1 billion to start-ups through VC funding over next five years."
Gujarat government had earlier announced a policy in January 2015 for start-ups with an emphasis on manufacturing and services sector. "The 2015 policy was launched by industries department and is focused on manu facturing sector. This will be a different policy with a specific focus on technology-based start-ups and it will be announced soon," Dwivedi explained. "A national summit on technologies will be held in second week of August, where over 3000 start-ups from the state will participate. We will also be calling VCs, incubators, and accelerators from across the country and give them a platform to interact."
Two major summits and a conference are planned later this year to promote IT start-up policy and other policies. Under the existing policy meant for manufacturing start-ups, over 100 start-ups are being provided assistance through 18 incubators and the government is in process of identifying 18 more incubators.
