Gujarat Government launches India’s first Student Startup and Innovation Policy
Gujarat government launched India’s first student startup and innovation policy with an aims to provide Rs 200 crore in the form of grants to ideas developed by students/
The policy aims to support over 1,000 innovation per year in the state and create pre-incubation support in all universities of the state.
- The policy will encourage the students from the state to undertake innovative projects related to society, industries, and community instead of conventional academic projects.
- It will support student-led startups and innovations as well as create an Innovation and Pre-incubation Ecosystem Support (IPIES) across all universities of the state.
- Under the pre-incubation support, help will be provided to students to convert their ideas from proof of concept (PoC) upto minimum viable proto-type (MVP) and also providing support for patent filing.
- The policy has been developed under the aegis of Education Department and state government will provide Rs 200 crore as State Innovation Fund (SIF) during the next five years.
- Of the Rs 200 crore SIF, Rs 100 crore will be allocated by the state government and the remaining amount will be created by internal sources, like university funds and CSR funds.
Earlier in 2015, Gujarat Government had unveiled startup-assistant scheme, as part of Gujarat Industrial Policy and in 2016 also had launched Information Technology Startup Policy.