India, July 14 -- To boost grassroots entrepreneurship and formalise traditional enterprises, the state government is finalising a comprehensive 'Startup and Innovation Policy'. Designed in consultation with senior bureaucrat Pravin Pardeshi and renowned scientist Dr Raghunath Mashelkar, the policy aims to scale up startups and innovation through structured support.

The policy aims to register 5 lakh technically-skilled youth, including ITI students, 10th-pass candidates, and beneficiaries of the Vishwakarma scheme, as pre-innovators. These individuals will receive financial assistance in the form of collateral free loans ranging from 5 lakh to 10 lakh, with the government subsidising 50 percent of the interest. The objective is to enabl...