Manohar Parrikar, Chief Minister of Goa has announced the allotment of about $25.8 Mn (INR 169 Cr) for the IT sector, including $2.29 Mn (INR 15 Cr) for startups with the aim of creating 4,000 jobs per year. The Goa Government will also set up a startup promotion board in the coming financial year.

Furthermore, he allocated $76K (INR 50 Lakhs) to encourage incubation centres and entrepreneur development centres in the state.

Commenting on the development, the newly sworn-in Chief Minister Manohar Parrikar said, “There is no evidence that more regulations make things better. With minimising regulations my government will emphasise on ease of doing business initiatives in Goa and implement the business reform action plan in the state, to be among the top 10 Indian states through an e-governance platform, integrating and synergising all government departments and entities.”

He also stated that the government will also focus on the implementation of the Goa IT Investment Policy 2015. Parrikar assured that the Chimbel IT Park would be completed in the next two years after taking all the stakeholders into confidence.

It is not only Goa’s government that is working towards startup welfare. Earlier in September 2016, the Haryana government announced the setting up of a $150 Mn (INR 1,000 Cr) fund for industries, focussing upon small- and medium-scale enterprises.

Following this, the Bihar Government had also cleared the launch of the state’s startup policy. The State Government of Chattisgarh also launched the ‘Start-up Chhattisgarh’ initiative. Furthermore, the Karnataka State Government launched a fund of $1.2 Mn towards Karnataka’s Startup Cell. later in the month, Tamil Nadu government, with an aim  to boost entrepreneurship in the state, expressed its intentions to provide maximum support to startups in the state, with mandated rules and regulations in place.

(This development was reported by TOI)

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