Punjab News

Punjab to be the top Startup destination in the country: Singla

February 06, 2019 07:33 PM

CHANDIGARH: Exhorting the youth of the State to harness their entrepreneurial skills to become job creators rather than job seekers, Vijay Inder Singla, Minister of Information Technology, Punjab said that Entrepreneurship has always been a part of Punjab’s DNA and Punjab Government by facilitating the entrepreneurial potential in the youth will transform Punjab to be the top Startup destination in the country. He was speaking on the occasion of Grand Finale of the Startup India Punjab Yatra, at Indian School of Business, Mohali.

He said that in recent times a boom in youth entrepreneurs from Punjab has been observed but considerable potential still remains unlocked. So, Punjab government is taking innovative steps to strengthen the Startup ecosystem in the State. Besides facilitating the Punjab Startup Yatra, State Government is offering attractive incentives to Startups such as seed grant and interest subsidy for loans, creating incubators with plug and play facilities and state-of-the-art infrastructure, and setting up of a dedicated Startup Cell to promote Startups in the State. He informed that the STPI Incubation Center in Mohali is working exceptionally well and a similar STPI unit is being set up in Amritsar which will be operational by the next fiscal. State aims to facilitate 1000 Startups in 5 years, set up 10 incubators and accelerators in the State, build a Startup hub at Mohali and develop 50 entrepreneurship centres in state colleges, informed IT Minister.

Speaking on the occasion, Minister of Industries & Commerce  Sunder Sham Arora said that with the aim to accelerate economic growth and to provide large-scale entrepreneurial and job opportunities in the State,  Startup and Entrepreneurship forms one of the  key features of Punjab Industrial and Business Development Policy- 2017. He said that entrepreneurs can strengthen the future economy of Punjab and mentioned that through the Punjab Startup Yatra, State Government has provided a platform for young entrepreneurs to utilize their skills to take Punjab’s economy forward.

He said that the objective of this Yatra was to identify a community of change makers in the State who have the potential to become the next big startup unicorns and make Punjab a hub for Innovative Growth. He added that the State aims to provide Startups with the necessary academic networking and funding opportunities, along with supporting Startups throughout their lifecycle, from an idea to a prototype to a successful Startup.

Both the Ministers expressed joy over the huge participation of the youngsters in the Punjab Startup Yatra. They ministers felicitated the 15 winners who emerged from the 523 ideas that had been submitted in varied fields such as social sector, IT/Digital marketing/E-commerce, health and wellness, agriculture and manufacturing.

Earlier, the Additional Chief Secretary, Vini Mahajan, made the opening remarks encouraging the students to produce the best innovations and assured them of support from the Government.

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