Bhopal, Feb. 21 -- Ahead of the Global Investors Summit scheduled on 24-25 February in Bhopal, the Madhya Pradesh government has announced its new Start-up Policy and Implementation Plan 2025, marking a significant step towards fostering innovation and entrepreneurship in the state.
Prime Minister Narendra Modi will inaugurate the two-day GIS and launch the Start-up Policy along with other new policies under the Industrial Investment Promotion Policy, while Union Home Minister Amit will attend the closing ceremony of the summit.
Chief Minister Mohan Yadav has taken several initiatives to attract investors and position Madhya Pradesh as a favourable destination for industrialists, entrepreneurs and start-ups.
The announcement of the new Start-up Policy ahead of the GIS aims to position Madhya Pradesh as India's next major start-up hub, aligning with PM Modi's vision for a Developed India by 2047, said CM Yadav.
With a strong focus on economic self-reliance, infrastructure development, and financial support, the initiative is expected to unlock new entrepreneurial opportunities and drive long-term growth, he said.
"The new Start-up Policy offers comprehensive support at all stages of a start-up's lifecycle, from ideation and validation to early-stage development and expansion", Priyanka Das Secretary of the Micro, Small and Medium Enterprises (MSME) Department told Millennium Post.
Under the Entrepreneur-in-Residence (EIR) Scheme, eligible start-ups will receive financial assistance of Rs 10,000 per month for up to 12 months, ensuring sustained support for young entrepreneurs. To further boost funding, the state has introduced a Rs 100 crore Start-up Capital Fund and a Seed Grant of up to Rs 30 lakh per start-up, helping ventures scale their operations.
The 'Mukhyamantri Udyam Kranti Yojana' will provide a 5 per cent interest subsidy and reimbursement of loan guarantee fees, reducing financial burdens for emerging businesses.
The policy also introduces key incentives for product-based start-ups, including electricity tariff rebates, employment generation incentives, and electricity tariff reimbursement support. Recognising the importance of market access, the government will offer digital marketing support and facilitate participation in national and international business events, helping start-ups connect with investors and customers on a global scale.
Infrastructure development is another critical aspect of the policy, with plans to establish state-of-the-art mega incubation centres, satellite centres, co-working spaces, and innovation-driven regional clusters in key cities.
These hubs will provide start-ups with cutting-edge facilities and mentorship, ensuring a thriving innovation ecosystem in the state.
To accelerate the transformation of ideas into successful enterprises, the policy includes special acceleration programs and hackathons, encouraging entrepreneurs to refine their innovations.
Additionally, the formation of the Madhya Pradesh Start-up Advisory Council, comprising industry leaders and global investors, will offer strategic guidance and ensure the long-term sustainability of start-ups in the state.
Published by HT Digital Content Services with permission from Millennium Post.