The state government will help school students and rural youth for startups and setting up industries by financing 5 lakhs under the ‘i-start Rajasthan’ scheme. Women entrepreneurs will also get a 10 percent reservation.
The Rajasthan government will help the youth step by step to commence their startup providing up to Rs 5 lakh through the ‘i-start Rajasthan’ scheme. Under this, the target is to create 1 lakh new jobs by creating 10 thousand startups.
The government has started working fast on this startup policy. This policy will work on a one-step platform which includes the complete process from the business registration to the approval of money to run it. All the work will be done on a single window without any hassle.
How will the ‘i-start Rajasthan’ scheme work?
All the work will be done through the Incubation Center. An amount of 10 thousand to 1 lakh rupees will be given to the startups of school students in the state. Rural youth will be given incentives of Rs 5 lakh under the I Start program. Incubation centers have been made ready to implement the policy at all 7 divisional headquarters of the state. It will be inaugurated on August 20, the birth anniversary of Rajiv Gandhi. Initially, a total of 30 ‘i-start Nest Incubation Centers’ will be started in the state.
What is an Incubation Center?
The incubation center is like an institute, where startups will be given all kinds of help at the primary stage. From technical support, legal documentation support, network, business connections, and what the working space should be like everything will be guided here.The most important thing is that they also provide starting capital. If you have an idea, the incubation center adopts you. This help can be both government and private.
Startups from these sectors will be included
Mainly there are agriculture, education, healthcare, IT, finance, food, travel and tourism startups. Apart from this, many other startups like Advertising, Marketing, Aeronautics, Animation, Automobile, Sports, Telecommunication, Transport, Chemical, Construction, Matrimonial, Pets and Animals are also included.
How To Apply?
You can apply online at www.istart.rajasthan.gov.in website.
You can also apply by login SSO ID.
If there is a problem filling in online, then you can apply by contacting the IT Department in the Government Secretariat.
The decision to select your startup idea will be taken by a committee of IAS officers and industry experts.
Who can apply?
- From school students to college students studying in 8th.
- Colleges, universities, engineering colleges, technology-related youth, researchers.
- Rural youth who have an idea for an innovation or who have made an innovation and need technology, marketing and funding.
Students will get this discount
- Once the student’s idea is approved, there is a facility of giving 5% grace marks and 20% relaxation in attendance in every semester.
- Preference will be given to ideas that make big changes in society or make life easier through technology and innovation.
- Students working on a project will get the facility to convert that project as project credit in their final year degree.
- Students who want to set up their own industry by doing entrepreneurship will be allowed to take a break of 1 year during graduation.
- Entrepreneurship cells will be set up to promote entrepreneurship at the college level. 10 lakh should be given to the college for this.
10% reservation for women
An amount of 75 crore fund will be kept reserved for women entrepreneurs.
Youth running startups from other states will get a homecoming support package of 5 lakhs on shifting business to Rajasthan.
An information cell will also be created to help in patenting a startup product.
How to get money when an idea is approved?
- If the idea is approved, then 15 thousand rupees will be given every month for one year.
- Women and youth of rural areas will get 5 thousand extra i.e. 20 thousand rupees every month for startup.
- Seeds funding i.e. 5 lakh will be given to make the product.
- When the product has to be launched in the market, then a loan of 10 lakh to 25 lakh will be available.
- Selected startups will also be given exemption from state tax.
- 25 thousand rupees will be given to the employees for skill development.
300 startups got 15 crore help
This innovation will motivate school children and rural youth which will be helpful in the financial progress of the state. So far, 15 and a half crore have been given to about 300 startups. In the last financial year, 171 startups were given assistance of Rs 9.5 crore, said Usha Sharma, Chief Secretary.
According to Akhil Atoda, Principal Secretary, Information Technology Department, “Hub and spoke model have been set up at 6 divisional headquarters based on incubation centers. These techno hubs will prove helpful in the technical progress of the state.”
From where will the government get the money?
To distribute money to new startups, the government will create a venture capital fund of 75 crores. Its name is Rajasthan Innovation Vision (Rajiv) Fund. Startup money will be approved from this fund. Along with this, if a startup makes a big name, then an excellence award will also be given. Innovation Award will be given to startups doing excellent work in the field of Health, Rural Development, Environment, Livelihood. In this, the first award has been kept for Rs 2 crore, the second one crore and the third 50 lakh.