Delhi Govt Approves Rs 400 Crore Start-Up Policy With Rs 10 Lakh Seed Fund For Students
The Delhi government has approved a new Start-Up and Incubation policy that will provide seed funding of up to Rs 10 lakh to students and alumni of government schools and government-funded colleges. Announced on Thursday, the policy will see an investment of Rs 400 crore over the next five years to help young innovators launch their own entrepreneurial ventures.
The initiative will be implemented across 11 state universities, 13 government-funded colleges, polytechnic institutes, Industrial Training Institutes (ITIs), and Delhi government schools. The policy aims to foster a strong innovation ecosystem, transforming the youth of Delhi from job seekers into job creators.
Chief Minister Rekha Gupta stated that the government's Rs 400 crore investment over the next five years is designed to support students from the initial idea stage to prototype development and patenting. The policy also extends eligibility to the alumni of Delhi government schools.
According to Education Minister Ashish Sood, the policy is specifically tailored for students rather than the general public. The goal is to help students develop and incubate their ideas at an early stage, so they can become job providers by the time they graduate. The government plans to guide students through various phases, including prototype development, proof of concept, product development, market validation, and commercialisation.
Industries Minister Manjinder Singh Sirsa noted that the student-focused policy promises the Rs 10 lakh funding in different stages of project growth.
To support these ventures, the Delhi government plans to strengthen existing incubation centres and set up new ones within school and college campuses. These centres will offer modern infrastructure, expert mentoring, business advisory services, intellectual property support, and access to laboratories. The government will also provide one-time financial assistance to eligible institutions to establish and strengthen these centres, along with annual operational support.
In addition to the funding, the government will establish a State Incubation Policy Monitoring Committee (SIPMC), comprising members from the government, educational institutions, and industry, to oversee the policy's implementation. An annual "Delhi Start-up Youth Festival" will also be organised to connect young innovators with investors, industry representatives, and policymakers.
During the announcement, Education Minister Sood criticised the previous AAP government's "Business Blasters" scheme, which was introduced in 2021. He stated that the previous scheme had a total budget of Rs 22 crore and ended in 2022, whereas the new policy has a significantly larger budget of Rs 400 crore to nurture future business leaders.
