Scheme for Assistance to Startup – Gujarat
Scheme for Assistance to Startup – Gujarat
The State Government of Gujarat has strongly focused not only embedding of employability but also initiating the Startups Incubators/ Centres for developing entrepreneurial skills among youth. Hence the Government has introduced a financial assistance policy to support the innovation and entrepreneurship in State, especially for startups. In this article, we look at the scheme benefits, eligibility, and application procedure of Scheme for Assistance to Startup in Gujarat.
Benefits of Financial Assistance
Assistance for Innovation
- Under this scheme Rs. 10,000 per month will be provided to the innovator as sustenance allowance for one year.
- Startups mentored will get financial assistance up to Rs. 5 lakh annually.
- The cost of raw material/components and other related equipment for the innovative process will get financial assistance up to Rs. 10 lakh as per the approval of the screening committee.
- An institution will support the innovator by providing mentor services.
- The innovator can visit the institution to use facilities designated for startups.
- As per the Government approval, a selected innovator will get free access to University/Libraries/Government Laboratories/ CoE/SDCs/PSUs to clarify his innovative concept/ideas.
Eligibility Criteria
To avail financial assistance under the scheme, the eligibility criteria are defined for any individual/ group of individuals having an innovative idea/ concept. Universities/education institutions, Incubation Centre/PSUs/R&D Institutions/Private and other establishments are eligible as an institution to assist and mentor to innovators.
Application Procedure
Step 1: Please visit the home page StartUP of Gujarat
Step 2: Move the cursor to the option “ECOSYSTEM” where you should click on “About Scheme” option.
Step 3: On the next page click on ” Online Application Form” option as mentioned below the title ‘Innovators.’
Step 4: Then fill up the online application form and submit your details.
Once you have applied, an Internal Review Committee of GUSEC (Gujarat University Startup and Entrepreneurship Council ) will do an initial screening of the application. Then the applicant should be presented in front of GUSEC Scrutiny Committee. The Scrutiny Committee will endorse and recommend the startup funding to the State Government, which will disburse the requisite funds.
