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MP to be new destination for startups in India

Bhopal. Youths of the state will be provided loan up to Rs 10 lakhs without interest and seed capital for startups. Innovation Council will be formed in the state. Madhya Pradesh will become the Entrepreneur Network. Changing the policy, arrangement will be made for government purchase through startups up to Rs 30 lakh without tender. Startups will be provided better environment and facilities in the state. Madhya Pradesh will be the new destination for startups in the country. CM Shivraj Singh Chouhan was addressing young entrepreneurs at the Startup Conclave. At the outset, the Chief Minister dedicated Bhopal Metro Project office and laid the foundation for works worth Rs 800 crores.

The Chief Minister said that startups will be encouraged to provide opportunities to every youth of Madhya Pradesh to fulfil his ambition and give natural expression to his talents. Incubation centres are being made in all seven smart cities of the state. All facilities will be provided to the youth to launch startups. Incubation centres on PPP model will be started in selected colleges. Venture Capital Fund has been made for innovative ideas in the state. Mukhya Mantri Yuva Udyami Yojana will also be linked to this. Successful industrialists will be told to mentor incubation centres. The Chief Minister said that there are widespread possibilities for startups in fields like agriculture, tourism and transport in the state. Industrial corridor will be built near the three new Express Higwhays of the state including Indore-Bhopal, Chambal Expressway and Narmada Express Highway.

Last fifteen years, the state has emerged from the Bimaru category and has become a developed state. Basic requirements of road, electricity and irrigation have been fulfilled in these years. The Narmada-Kshipra link project and Narmada-Gambhir Link Project have been started in the state. Irrigation potential has been increased from 7.5 lakh hectare to 40 lakh hectare. Availability of electricity has increased from 2900 MW to 18 thousand 800 MW. Start-up is needed in the value addition of agricultural products. Electricity generation is being considered by installing solar panel in the Indira Sagar project. He told the youth that nothing is impossible. Youth should become givers of jobs not takers.

20 thousand start-ups begin in the country - Chief Executive Officer, NITI Aayog, Amitabh Kant said that India's gross domestic product rate is 7.5 percent. In the next 30 years, the target of increasing GDP growth is 9 to 10 percent. This goal would be possible only by promoting start-up. The Centre had formed startup policy in January 2016 following which several startups came up in one and a half years. Madhya Pradesh took the initiative by forming its startup policy in the year 2016. The eco system created in Indore for startups is commendable. Rs 10 thousand crore fund has been created in the country for startups. Startups will be charged with zero percent income tax for any three years in the initial 7 years. Production from startups will be purchased for Government of India undertakings. In the last four years, 20 thousand startups have begun in the country, out of which 4500 are technology startups. 1100 multinational companies in the country have established research and development units in the country.

Madhya Pradesh has taken the initiative by forming its startup policy in year 2016. The eco system formed in Indore for startups is commendable. Several startups of Madhya Pradesh are doing a good job. Good work has been done in Madhya Pradesh to provide a better environment to startups.

Chief Secretary B.P. Singh said that Madhya Pradesh is ahead of Karnataka, Maharashtra, Tamil Nadu, Punjab in Ease of Doing Business. Rs. 7 thousand 51 crore has been provided to the micro, small and medium industries in the last 5 years in state. There are 346 startups in the state. A Venture Fund of Rs. 100 crores has been made in the state for startups. A startup policy has been formed in year 2016.

Conversation with youth - CM had direct talk through video conferencing with participants of Bhopal, Indore, Gwalior, Ujjain and Sagar present at the Startup Conclave. In a warm discussion with CM, participants informed him about expectations, schemes and needs related to startups and gave their suggestions. Chouhan said that they must present new ideas at the incubation centre. They will be provided assistance, facilities and advice by experts at various phases affiliated with the establishment of the startup. 

The Chief Minister appealed to the successful startup entrepreneurs to help new startups and take initiatives like Venture Fund. Expressing her gratitude to the state for the assistance provided to successful startup entrepreneurs, 


Expressing his gratitude to the Chief Minister for the efforts of the government in bringing big investors in IT sector in Indore, Ujjain’s Akash Tiwari laid stress on the need for a single window for startups. The Chief Minister gave information to Moulshree Singh, a student of Jabalpur, about the availability of government data in public domain and told to express ideas at the incubation centre for necessary assistance in bringing innovations into existence, on her query in this regard.

Chouhan informed about assistance, amenities and facilities to begin startups with the help of Venture Capital to Suyash Singh of Gwalior. Chouhan told Jagat, a successful startup entrepreneur of Indore that necessary guidance and financial assistance can be obtained from M.S.M.E Department in expanding startup at national and international level.