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Assam state government has collaborated with IIM Calcutta with an objective to promote startup culture in the state and to help youth come up with innovative ideas. A grant of Rs. 50 lakh will be disbursed to each promising startup as a part of the initiative.
The Industries and Commerce Department of Assam has recently signed a Memorandum of Understanding (MoU) with the top-ranked Indian Institute of Management Calcutta (IIM-C)'s Innovation Park in order to maintain and handle the operations of the startup Incubation Centre.
The Assam government plans to create an atmosphere for startups to venture in the state. It aims to indulge educational institutes and play an important role in the same for which a Startup Discussion was held on 13th September. The primary objective of the discussion was to come up with ways through which a startup culture can be fostered in the state.
A new Startup Incubation Centre known as the Assam Hub will soon be inaugurated as a part of the StartUp Policy of the state. The Hub which is situated at Ambari will focus on turning innovative and creative ideas to a reality along with providing office space, support services and other such amenities, revealed Mr. Ravi Capoor who is the Additional Chief Secretary of the Industries and Commerce Department for the state.
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The government plans to collaborate with renowned educational institutes across the region and the country and make them a reference point for the future startups. The responsibilities of these educational institutes will include scrutinizing startup proposals as per the guidelines and provide adequate feedback to the Department.
The Assam government will give a grant of Rs. 50 lakh for each startup. This will include Rs. 5 lakh towards the idea and proof of concept while the rest of the grant will be provided for purchasing equipment, raw materials, production and marketing costs, and other essential requirements to turn the idea of the product or service into a reality.
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Apart from this Startup Incubation Centre, the state government is also planning to introduce a StartUp Yatra, that will be a series of awareness campaigns in various district colleges of the state to promote a startup ecosystem and motivate the youth.
