- Details
- Benefits
- Eligibility
- Exclusions
- Application Process
- Documents Required
- Frequently Asked Questions
- Sources And References
- Feedback
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Gujarat
Scheme For Assistance For Start Ups/ Innovation
Entrepreneur
Skill Development
Startup
Subsidy
Details
The key objective of the Gujarat Industrial policy 2020 is to encourage R&D and start innovation and entrepreneurship. Hence, the new scheme is being introduced in order to support startups and innovation at different levels of the startup cycle. In view of the strategy under Gujarat Industrial Policy, the Government is pleased to introduce a "Scheme for Assistance for Startups / Innovation" which will come into force from 07/08/2020 and will remain in operation for a period of 5 years, i.e. upto 06.08.2025.
The scheme aims to give a further thrust to promoting startups and strengthening the ecosystem in the state, a task force comprised of leading stakeholders in the Gujarat startup ecosystem. Gujarat, owing to its inherent strength of widespread entrepreneurial spirit has gained a significant spot in the national startup ecosystem. The incentives to Startups under the Gujarat Industrial Policy 2015 have supported in the creation of a strong network of nodal institutions and several startups have expanded their operations/ products both at the national and international levels.
Benefits
Assistance to Startups
The Quantum of Assistance as under would be provided to the Startups whose innovative project is approved/sanctioned by SLEC.
Sustenance Allowance:
A sustenance allowance of ₹ 20,000 per month per startup will be provided to the Startups for a period of one year.
If startups have at least one woman co-founder, ₹ 25,000 per month per startup will be provided as a sustenance allowance.
Seed Support:
Seed support up to ₹ 30,00,000 will be provided to the Startups on the following, based on approval/ sanction by SLEC:
1. Cost of raw materials/consumables/hardware & software/professional services /other equipment/ tools required for prototype/product/process development
2. Market research Testing & Trials
3. Marketing/ publicity assistance: Here marketing/ publicity assistance covers assistance to startups to attend national/international events. The fees/charges paid for attending the same will be considered eligible under this head.
[Note: However, it is clarified that to and fro conveyance/accommodation expenses will not be considered for assistance]
Assistance to Startups having a Significant Impact on Society:
Additional support of upto ₹ 10,00,000 assistance will be provided to startups having innovative projects which have a significant impact on society, based on the conditions on approval/ sanction given by the SLEC.
Pre-Series A funding:
In the life cycle of a Startup, there is a funding gap which is better identified as the valley of death. This is a phase post commercialization where the Startup has just started generating revenue till the time period where its product/service gets market traction. Such startups will be assisted in getting venture capital. Initially, to support, such mid-level Pre-series A funding to startups, a separate fund shall be created under Gujarat Venture Finance Limited (GVFL). This assistance will be specifically to cater to the startups that have already received seed support from the government under various schemes for the promotion of startups.
Interest subsidy:
The startups that have been approved/sanctioned under this scheme will be eligible to avail of an additional interest subsidy of 1%, a maximum of up to 9% on term loans under the provisions of the scheme for assistance to MSMEs.
Assistance to enroll and participate in Acceleration Program:
Assistance up to ₹ 3,00,000 per startup will be provided to enroll and participate in the national / internationally recognized acceleration program. Approved/sanctioned startups will be eligible for assistance up to ₹ 3,00,000 per startup during the operative period of the scheme, to enroll/participate in a national/internationally recognized acceleration program. The fees/charges paid for attending the same will be considered eligible for getting assistance. However, it is clarified that to and fro conveyance/accommodation expenses will not be considered under this assistance.
Acceleration Program:
An acceleration program is typically a 3-4 month program for startups at the early traction and scaling stage. It is a process of intense, rapid, and immersive education aimed at accelerating the growth of the startup.
Assistance for Skill Development:
Approved/sanctioned startups shall be provided assistance for skill development training specific to soft skills, managerial skills, marketing skills, and financing skills for the startup project. Such skill development training should support the startups in understanding the ecosystem, fundraising, commercializing, and scaling up the startup project. Financial assistance up to Rs. 1 lakh per approved/sanctioned startup shall be given for participating in such skill development training programs on a reimbursement basis.
Assistance to the Approved/Sanctioned Nodal Institution
Mentoring Assistance:
Mentoring Assistance of ₹ 1,00,000 per approved/sanctioned startup shall be provided to Nodal institution for the mentoring service (Maximum ₹ 15,00,000 per annum per institute.
Reimbursement Expenses on Organizing Promotional Events:
Reimbursement of 75% of expenses incurred for organizing promotional events to the extent of a maximum ₹ 5,00,000. If the event being organized is specific to "Women Entrepreneurship", the Nodal Institution will be eligible for reimbursement of 90% of expenses incurred for organizing promotional events to the extent of a maximum ₹ 5,00,000. However, it is clarified that the beneficiary Nodal Institution will not be eligible to get assistance under any other scheme of Govt. of Gujarat for the same component/purpose.
Other Support:
1. Govt. will support approved/ sanctioned Startups to get free access to universities/ Libraries/ Govt. Laboratories/ SDCs (GIDC) / Center of Excellence / PSUs to support and facilitate innovative ideas/concepts.
2. For organizing Acceleration Programs in Gujarat any institution, would be assisted by providing financial assistance, as approved by SLEC, maximum up to the matching contribution to the expenditure incurred.
3. The project is entitled to avail of other benefits under the schemes for assistance to MSMEs.
Eligibility
For Startups:
- Any individual/group of individuals having an innovative idea/concept and recommended by an approved Nodal Institution will be eligible to get recognized as a startup under this scheme.
- The innovative project can be from any sector or any faculty/branch of science/ technology/ engineering/ agriculture/ healthcare and no innovation worth its name is restricted from availing assistance just because of its being in a particular sector, making this a sector agnostic scheme.
Note 1: An entity formed by splitting up or reconstruction of an existing business shall not be considered a 'Startup'.
Note 2: The startups which are availing incentives as a 'startup' in any other 'startup scheme' of the Government of Gujarat will not get incentives under this scheme. However, the startups/innovators availing benefits under the Student Startup and Innovation Policy (SSIP) would also be eligible to avail of assistance under this scheme.
For Nodal Institution:
- Any University, Government approved/ affiliated/ recognized educational institution, Incubation center, PSU, R&D Institutions, private and other establishments operating in Gujarat.
- The institution should be registered under the Companies Act-2013, rule of Section 8, as a 'non-profit making company'.
- The institution should have separate spaces and engage full-time employees for the purpose.
For Mentor:
- The mentor means a resource person who is registered under this scheme and associated/recommended by the Nodal Institution.
Exclusions
- An entity formed by splitting up or reconstruction of an existing business shall not be considered a 'Startup'.
- The startups which are availing incentives as a 'startup' in any other 'startup scheme' of the Government of Gujarat will not get incentives under this scheme. However, the startups/innovators availing benefits under the Student Startup and Innovation Policy (SSIP) would also be eligible to avail of assistance under this scheme.
Application Process
Offline
For Approval/Sanction as Nodal Institution
Step 1: An eligible Institution intending to promote startups shall submit its proposal on the online Portal to register itself as a Nodal Institution under this scheme.
Step 2: The registered Nodal Institution shall apply to the IC office with requisites in the prescribed format, for getting approval/sanction as a Nodal institution.
Step 3: The applications will be scrutinized by the Office of the Industries Commissioner and after due diligence, they will be placed before the SLEC for approval/ sanction.
Step 4: On approval from SLEC, the Office of Industries Commissioner will issue the Sanction letter to accord recognition as a Nodal Institution.
For Approval/Sanction of Startups:
Step 1: Eligible innovators/startups shall get registered on the online portal to avail of assistance under the scheme.
Step 2: The Registered Start-ups shall apply to Nodal Institution with requisites in the prescribed format.
Step 3: Nodal institutions shall evaluate, validate and recommend the startup project proposal to the office of the Industries Commissioner.
Step 4: The startup project proposals will be scrutinized by the Office of the Industries Commissioner and after due diligence, the startup project proposals will be placed before the SLEC for approval/ sanction.
Note: The Detailed procedures for approval/sanctions of Nodal Institutions/ Startups, conditions, and guidelines would be separately issued by the Office of the Industries Commissioner.
Documents Required
Component: Assistance for Seed Support
1. Pitch presentation with the following details:
- Problem statement
- Objective for the startup or innovation
- Description of product/ service
- How does it work?
- USP/Uniqueness of the product/service
- Target market and customers
- Competition analysis – key competitors, the advantage of product/ service over competition, etc.
- Detailed project cost breakup
- Tentative action plan for the next 3-5 years
- Revenue projections for the next 3-5 years
2. Evaluation matrix by Nodal Institution
3. Recommendation form by Nodal Institution (revised format is attached for reference)
The following non-mandatory documents are desirable to be attached to the application form:
1. Technical feasibility/ product testing report/certification (if any)
2. Financial feasibility report/certification (if any)
Component: Assistance for Skill Development
1. Informative document of the training program (brochure, leaflet, a letter from the host organization, etc.)
2. Receipt of fees paid for participating in the training program
3. Certificate of completion of the training program, clearly indicating the name of the participants (founder/co-founders of startup)
Component: Acceleration Program
1. Informative document of the acceleration program (brochure, leaflet, a letter from the host organization, etc.)
2. Details of fees to be paid for participating in the acceleration program – preferably on the letterhead of the host organization
3. Feedback report (as per the format attached) within 1 month after attending the acceleration program. Please attach the following mandatory documents along with the feedback report:
4. Receipt of fees paid for enrolling and participating in the acceleration program
5. Certificate of participation (clearly indicating the name of the startup/ each participant)
Component: Assistance to startups having a significant impact on Society
1. Pitch presentation with the following details:
- Social issue that a startup intends to address
- Mission of the startup
- Vision of the startup
- Description of product/ service
- How does it work?
- Tentative action plan for the next 3-5 years
- Details of the stakeholders who benefited from the social impact generated by the startup
- Describe the measurable social impact generated by the startup. You must support it with photographs, interviews/testimonials of stakeholders/beneficiaries, recognitions or achievements, etc.
- Describe the non-measurable social impact generated by the startup. You must support it with photographs, interviews/testimonials of stakeholders/beneficiaries, recognitions or achievements, etc.
2. Evaluation matrix by Nodal Institution
3. Recommendation form by Nodal Institution (format is attached for reference)
Frequently Asked Questions
What Is The Objective Of The Scheme For Assistance For Start-Ups/Innovation?
Ans: The objective of the scheme is to encourage and support start-ups and innovative projects in the state of Gujarat.
Who Is Eligible To Apply For The Scheme?
Ans: Any individual, group of individuals, or registered companies in the state of Gujarat with innovative business ideas are eligible to apply for the scheme.
Is There Any Age Limit For The Applicant?
Ans: No, there is no age limit for the applicant to apply for the scheme.
What Is The Maximum Amount Of Financial Assistance Provided Under The Scheme?
Ans: The maximum amount of financial assistance provided under the scheme is INR 50 lakhs.
What Is The Duration Of The Scheme?
Ans: The scheme is valid for a period of five years from the date of implementation.
What Is The Application Process For The Scheme?
Ans: The application process for the scheme involves filling an online application form and submitting the required documents.
Can An Applicant Submit More Than One Application?
Ans: No, an applicant can submit only one application for the scheme.
How Long Does It Take To Get A Response After Submitting The Application?
Ans: The response time for the application varies and may take up to 30 days.
What Is The Selection Process For The Scheme?
Ans: The selection process for the scheme involves scrutiny of the application, site visits, and evaluation by the selection committee.
What Are The Evaluation Criteria For The Scheme?
Ans: The evaluation criteria for the scheme include innovation, market potential, social impact, sustainability, and financial viability of the project.
Can An Applicant Modify The Application After Submission?
Ans: No, an applicant cannot modify the application after submission.
What Are The Benefits Of The Scheme?
Ans: The benefits of the scheme include financial assistance, mentoring support, access to co-working spaces, and networking opportunities.
Is There Any Collateral Required For Availing The Financial Assistance?
Ans: No, there is no collateral required for availing the financial assistance.
Is The Financial Assistance Provided As A Loan Or A Grant?
Ans: The financial assistance is provided as a grant and not as a loan.
What Is The Repayment Period For The Financial Assistance?
Ans: There is no repayment required for the financial assistance provided under the scheme.
Can A Beneficiary Of The Scheme Apply For Other Schemes Offered By The Government?
Ans: Yes, a beneficiary of the scheme can apply for other schemes offered by the government.
Is There Any Deadline For Submission Of The Application?
Ans: No, there is no deadline for submission of the application.
Can A Rejected Application Be Re-Submitted?
Ans: Yes, a rejected application can be re-submitted after incorporating the feedback provided by the selection committee.
Is The Scheme Applicable Only For New Start-Ups Or Can Existing Businesses Also Apply?
Ans: Both new start-ups and existing businesses with innovative ideas are eligible to apply for the scheme.
Can A Non-Resident Indian (NRI) Apply For The Scheme?
Ans: No, NRIs are not eligible to apply for the scheme as it is meant only for residents of Gujarat.
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Gujarat
Scheme For Assistance For Start Ups/ Innovation
Entrepreneur
Skill Development
Startup
Subsidy
Details
Benefits
Eligibility
Exclusions
Application Process
Documents Required
Frequently Asked Questions
The key objective of the Gujarat Industrial policy 2020 is to encourage R&D and start innovation and entrepreneurship. Hence, the new scheme is being introduced in order to support startups and innovation at different levels of the startup cycle. In view of the strategy under Gujarat Industrial Policy, the Government is pleased to introduce a "Scheme for Assistance for Startups / Innovation" which will come into force from 07/08/2020 and will remain in operation for a period of 5 years, i.e. upto 06.08.2025.
The scheme aims to give a further thrust to promoting startups and strengthening the ecosystem in the state, a task force comprised of leading stakeholders in the Gujarat startup ecosystem. Gujarat, owing to its inherent strength of widespread entrepreneurial spirit has gained a significant spot in the national startup ecosystem. The incentives to Startups under the Gujarat Industrial Policy 2015 have supported in the creation of a strong network of nodal institutions and several startups have expanded their operations/ products both at the national and international levels.
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Share
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