The Startup India Initiative that was launched by PM Modi has been very well received by the country and we are seeing more and more startups coming up every day. While Bangalore remains the startup capital of the country, Maharashtra too wants to leave no stone unturned to facilitate conducive startup culture in the state.
As per the latest initiative from the Government of Maharashtra, in an attempt to make buying/renting spaces for startups easy, the Maharashtra state government has proposed to issue a 100% waiver to startups or incubators on stamp duty and registration charges, on their first transaction. There’s a 50% proposed waiver on their second transaction as well. The state has planned to introduce a range of funding concessions for budding entrepreneurs and SMBs in the draft of its Innovation and Startup Policy which has been uploaded online for suggestion and objections till May 8, 2017.
Speaking on this development, Deepak Kapoor, Principal Secretary, HRD told TOI,
“Generally startups require monetary resources and human resources to function. In this policy we have looked at providing several fiscal benefits, as well as given an emphasis on encouraging innovation in the school and college years by proposing to revamp the education system.”
In an attempt to develop ease of doing business, the draft also proposes a single window system for permissions and licenses. A process of self-certification under various Acts has been suggested in order to do away with the need to seek approvals. The policy also proposes a state level ‘Start-up Cell,’ that shall look after IP protection, obtaining State and Central incentives, and thereby enabling entrepreneurs to focus on business and product. It has also offered to establish an interconnected network with college campuses, to allow students to use their startup plans as project studies or to seek grace marks in their exams.