Startups

Govt extends Goa Startup policy for six months till Sept | Goa News

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Panaji: With the state government unable to finalise the draft Goa Startup Policy 2021, the department of information and technology has decided to extend the Goa Startup Policy 2017 for the second time. The six-month extension will ensure that the policy, along with its schemes and benefits, will be valid till September 27. The notification regarding the extension is expected in the coming days, officials said.
Since the new startup policy proposes to include non-IT firms, the delay will affect new entrepreneurs, particularly women, who were counting on the new policy.
The Goa Startup Policy 2017 lapsed in September 2020 and was given a six-month extension till March 27.
“The government of Goa has extended the validity of the startup policy-2017 for a period of six months that is from March 28 to September 27,” startup promotion cell director and director for information and technology Ankita Anand said.
The Startup Promotion Cell (SPC) began work on the new policy in the first half of 2010 by taking the learnings from the existing startup policy and inputs from startups.
The Goa Startup Policy 2017 offered 14 incentives, for which the SPC received 77 applications from startups. Of these 77 applications, 68 startups applied for just three schemes, while nine applications were for five schemes. The remaining six schemes got no takers.
For the new startup policy a single round of discussions with local startups and startup ecosystem stakeholders was held, while inputs were also sought from the Centre’s department for promotion of industry and of industry and internal trade (DPIIT).
A second round of discussion with local stakeholders with the IT minister Jennifer Monserrate and chief minister Pramod Sawant, though scheduled often, was cancelled.
The draft Goa Startup Policy 2021 proposes to revise the definition of a startup from the existing cut off of Rs 25 crore annual turnover to Rs 100 crore annual turnover. The IT department aims to bring in more tech firms under the ambit of the new policy, which will replace the Goa Startup Policy 2017. The draft policy aims to create at least 500 innovative, technology-enabled startups over the next three years, which should potentially create employment for at least 6,000 Goans.
Tech bodies have been pushing the government to roll outthe new policy ever since the existing policy lapsed in 2020.

Read more at timesofindia.indiatimes.com

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