Delhi govt unveils draft start-up policy to nurture 5,000 ventures by 2035
Focus on emerging tech: AI, IoT, biotech, gaming, green tech, robotics
Incentives include office rent, IP filings, exhibition costs, and operational grants
The Delhi government has introduced an incentive-based draft start-up policy, which will facilitate the establishment of 5,000 ventures and make the national capital a global innovation hub by 2035. The government will set up a ₹200 crore corpus for the Delhi Start-up Venture Capital Fund to improve financing options for start-ups.
“To encourage, facilitate, and support the emergence of at least 5,000 start-ups by 2035. To encourage entrepreneurship that enables sustainable and inclusive socio-economic development across the state,” the nine-page draft policy document reads. The policy has been drafted for 10 years.
It will majorly focus on start-ups across categories such as hospitality, healthcare services, fintech, e-waste management, automotive enterprises, logistics and supply chain management, gaming, green technology, and robotics.
Tech Becomes Key Focus Area
The draft policy identifies emerging technologies such as artificial intelligence (AI), machine learning, Internet of Things, Software-as-a-Service, biotechnology, augmented reality, drones, and UAVs as key areas, the policy reads.
"Delhi is one of the fastest-growing states in the country. The proximity to government institutions, the presence of a business-frinedly infrastructure, and a burgeoning entrepreneurship culture make the city a viable IT hub. The IT & ITES sector in Delhi has emerged as a rapidly developing industry," the draft said.
"The key sectoral areas for this Policy mirror the Government's priorities relating to Science & Technology and IT/TES and align with the strengths of the State," it added.
The policy also allows for new focus areas to be added later, based on approval from the Start-up Monitoring Committee and shifts in technology or market demand.
To support start-ups, the policy recommends fiscal incentives, including full reimbursement of office lease rentals up to ₹10 lakh annually for three years, as well as 100% reimbursement for patent and intellectual property filings - capped at ₹1 lakh for domestic and ₹3 lakh for international filings.
Incubation Hub, Mentorship & Start-up Festival
The draft policy also outlines additional incentives, such as full reimbursement of exhibition stall or rental costs up to ₹5 lakh for domestic events and ₹10 lakh for international ones. Start-ups can also avail a monthly operational allowance of ₹2 lakh for one year.
Applications for these benefits can be submitted through the Delhi Single Window System with the required documents. The nodal agency will evaluate submissions and forward the eligible ones to a Start-up Tast Force, which will make the final decision on disbursements.
The draft states that applicants will be informed of the selection through a dedicated start-up portal.
Additionally, the government will also provide advanced infrastructure and support systems to strengthen Delhi's entrepreneurial ecosystem. Start-ups will also gain access to virtual incubation through the Delhi Incubation Hub network, which will connect them with experts and mentors.
Besides this, industry associations will also be engaged to host a start-up festival, offering entrepreneurs a platform to showcase their ideas and innovations to global audiences.
The industries department will serve as the nodal agency for implementation, working through a monitoring committee headed by the industries commissioner and supported by a Start-up Task Force.
“This Policy shall be reviewed biennially. A status report shall be commissioned by the Startup Task Force to critically appraise the usefulness of the Policy, the ease of implementation and the outcomes achieved,” the draft added.
