NEW DELHI: The city Cabinet has approved the Delhi Start-up and Incubation Policy to promote innovation, research and entrepreneurship in the national capital. The government will invest more than Rs 400 crore over the next five years to support young innovators and help them turn their ideas into start-ups.
Chief Minister Rekha Gupta said the policy has been designed to develop Delhi into one of the country’s leading hubs for innovation and entrepreneurship while ensuring that young people receive every possible support to build successful start-ups. She said the policy aims to create a strong innovation ecosystem across educational institutions.
The policy will be implemented in 11 state universities, 13 government-funded colleges, polytechnic institutes and Industrial Training Institutes. Students from government schools will also be able to avail themselves of the policy’s benefits through these institutions. Successful students will receive financial assistance, while the incubation centres will be provided annual operational support for mentoring and networking activities.
According to Gupta, the support will cover prototype development, proof of concept, product development and market validation.