NEW DELHI: The Delhi government has approved the setting up of the Go-Delhi Foundation with a corpus of Rs 50 crore to support young innovators and startups, a Chief Minister’s Office (CMO) statement said on Sunday. The approval was granted at a recent Cabinet meeting chaired by CM Rekha Gupta.
The capital has nearly 21,000 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). The foundation aims to promote innovation and entrepreneurship by helping young people, researchers and entrepreneurs turn their ideas into market-ready products and successful enterprises.
Gupta said the foundation would help startups and micro, small and medium enterprises (MSMEs) access product engineering, prototyping, laboratories and testing facilities. It would also provide technical guidance, mentorship, incubation, business support and opportunities to connect with investors.
The initiative will support entrepreneurs at different stages, from product development and testing to certification preparation and market access. It aims to bring various support facilities together on a common platform, making it easier to establish and expand businesses in the national capital.
Government departments will also be able to share real-world challenges with innovators. Products and technologies developed to address these issues could be tested through pilot projects, with successful solutions considered for adoption, Gupta said.
The foundation will collaborate with industry, educational institutions, investors and other partners. It will follow a hub-and-spoke model, using existing facilities and partner institutions across Delhi to deliver its programmes.
The foundation will be established as a not-for-profit company under Section 8 of the Companies Act, 2013, and operate under the Delhi government’s Department of Industries, the statement said.