Delhi Government Approves Implementation of Startup Policy

With this, the youth can avail of financial assistance provided by the government in setting up companies

By
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The Delhi Cabinet has approved the implementation of the Delhi Startup Policy. With this, the youth can avail of financial assistance provided by the government in setting up companies. The policy also aims to make Delhi the startup destination of the world.

Press conference screenshot

“Entrepreneurship classes and Business Blasters Program to be introduced at the college level after its grand success in schools. Delhi Government will support college students working on business ideas in all possible ways it can,” said the chief minister of Delhi, Arvind Kejriwal.

He said the Delhi government will help startups get collateral-free loans which will be interest-free for a year.

“Creating entrepreneurs and business leaders out of our youth is a subject very close to my heart. Our youth has tremendous potential. Given the right opportunities, they can compete with anyone in the world. Not just India, we will see Delhi become the startup destination of the world,” added Kejriwal.

Kejriwal said that the Business Blaster program, currently being run in Delhi government schools, will be extended to college students so they could work on their business ideas. “In Delhi’s schools, from 9th to 12th, we have launched the ‘Business Blasters’ campaign, under which participants are given small seed capital to create a business,” he said.

Further, the students of state-run institutes can take off for 1-2 years to focus on a business.“The 20-member task force, having a government officer, academics and business and trade representatives, will decide on registration applications from start-ups,” said the Delhi CM.

According to the Economic Survey 2021-22 released in February 2022, the national capital has replaced Bengaluru as the startup capital of India, with over 5,000 recognized startups added in Delhi between April 2019 and December 2021, against 4,514 in Bengaluru during the period.

“I hope the youth of Delhi will create unicorns of their own. I expect to see a boom in startups over the coming years," said Kejriwal, while announcing the implementation of  the Delhi Startup Policy.