The state government of Rajasthan introduced its Startup Policy in 2015. It has now announced that it has disbursed funding to more than 30 startups in the state as a part of its iStart programme. The funding amount ranges from INR 1.2 lakh to INR 20 lakh, says a statement released by the Department of Information Technology and Communication (DOIT&C), Rajasthan.
According to a Times of India report, the startups that raised funds belong to different stages including ideation and scaling stages. Along with the financial help, the program also provides various incentives to the startups including subsistence allowance, initial financial cost, marketing assistance, and techno fund.
Abhay Kumar, principal secretary, DOIT&C, Rajasthan government, said in a statement, “We are also very pleased to see exponential growth in the startups applying for various incentives as part of i-Start Rajasthan program and we look forward to building and promoting this ecosystem to the next level.”
Rajasthan has the largest government-run incubation network in India. It started iStart Nest in late 2017 as one of its kind startup incubators. It provides end-to-end acceleration and support to the startups as well as connect them with various venture capitalists across the world for free.
In 2015, the government of Rajasthan announced its plan to support more than 500 startups by 2020 and allocated INR 55 crores for it. In early 2016, the government announced that it is setting up seven incubation centers in government engineering colleges and allocated INR 2.7 crores for 2016-2017 for funding startups and setting up the incubation centers.