In January 2015, Gujarat Government had come up with a policy for Industrial sector focusing on startups and entrepreneurship which had primary emphasis on Manufacturing Sector and now in June 2016 they have joined likes of Telangana, Andhra Pradesh, Uttar Pradesh, etc., and have come up with their first ever Startup policy which focuses and is applicable only on IT and Electronics Sector.
Under this policy, state government will setup 50 incubators with an aim to get investments of INR 7,000 crores and guide 2,000 Startups in next 5 years. They have proposed to allocate 10 lakh Sq Ft of land for setting up incubation centers.
Policy also states that incubators will receive INR 5 lakhs per year for mentoring startups and additional INR 1 crore for procurement of Software licenses. Stamp Duty and Registration fees will also be waived off for the startups.
Government has also stated that they will pay INR 2 lakh for domestic and INR 5 lakh and international patent respectively.
To promote the startup culture and create awareness on the new laid out policy, Government has planned to hold a conference with Summits and workshops in which they expect 3,000 startups from state to participate who will get opportunity to interact with Venture Capitalists, Incubators and will be an ideal platform for interaction, mentoring and guidance.