So far, the government only helps college students in startups, but now it has been decided to make school students entrepreneurs as well. A venture fund will be created in the government sector for startups. With this, new entrepreneurs will not have to find investors.
Students from 10th to 12th will also be able to become entrepreneurs with new business ideas. For this, startup policy is being changed. Under the new policy, the government will also encourage school students for entrepreneurship.
To promote startups in Uttarakhand, the government had implemented the startup policy in 2018. In this policy, the focus is on encouraging the students of technical educational institutions only for startups.
Now the government will help school students who come up with new business ideas to become entrepreneurs. The proposal of the new policy was presented to the Finance Department at the government level. Provision is being made to form a committee at the district level for idea selection. Venture fund will be created in the government sector for financial assistance in startups. With this, new entrepreneurs will not have to find investors. The monthly allowance given by the government to startups will also be increased.
Not mandatory to form a company
So far, for startups, students have to first register the company. Only after this, on the basis of business idea, the government gives recognition to the startup. This condition will not be there for school students in the new policy.
Startup Policy-2018
Startups are given an allowance of Rs 10,000 per month for one year to set up a business. Startups of SC, ST, women and differently-abled people get an allowance of Rs 15,000 per month in A category districts.
100 percent exemption in stamp duty, financial assistance of one to five lakh for patenting the product, assistance of five to 7.50 lakh for marketing is given. For the Incubator Center, financial assistance of 50 percent or a maximum of one crore is available on the capital expenditure.
The proposal of startup policy has been discussed with the Finance Department. Soon the policy proposal will be brought in the cabinet. In the new policy, incentives are being extended to promote startups. If school students have new idea for business then they will be encouraged as startup.
