A pivotal meeting, presided over Sh. Dharam Pal, Adviser to Administrator Chandigarh, marked a significant step towards the formulation of a forward-thinking Start-up Policy for the Union Territory. Key to the discussion was the presentation of a draft proposal for the Start-up Policy by the Department of Industries, U.T. Chandigarh. The proposed policy is structured around four core pillars: Ecosystem Mobilisation, Mentorship and Linkages, Funding Support and Incentives, and Academic Interventions. The focus was on developing a robust support infrastructure, including incubators, co-working spaces, and mentorship programs, to nurture soft skills and innovation in emerging start-ups.
Furthermore, the meeting highlighted the importance of strengthening existing incubators within Technical Education Institutes in Chandigarh, emphasizing innovation, research, and entrepreneurship. To ensure adaptability in the ever-evolving start-up landscape, it was decided that the policy’s tenure would be set at five years from the date of notification, with annual revisions. In a groundbreaking move, the U.T. Chandigarh Administration will establish the Chandigarh Innovation Council, a strategic initiative designed to boost innovation and research in sectors such as Education, Health, and IT. The council will allocate a specific portion of the annual Start-up policy corpus in alignment with the National Innovation and Start-up Policy for Students and Faculty, aimed at nurturing research ideas among young innovators within Higher Educational Institutes.
Collaboration between various government departments and the Department of Industries, U.T. Chandigarh, will significantly enhance the incubator ecosystem in Chandigarh. This initiative will provide early-stage start-ups with a wide range of resources and services, including physical infrastructure, capital, mentoring, networking, and essential services like legal and corporate support, all essential for developing scalable business models and bringing innovative solutions to the market. Under the proposed Start-up Policy draft, the U.T. Administration intends to establish a distinct legal entity, preferably a Section 08 company under the Companies Act 2013, for implementing and executing the policy. Modalities regarding this setup will be explored in coordination with relevant ministries of the Government of India.
The meeting was a pivotal moment in Chandigarh’s journey towards becoming a thriving hub for innovation, start-ups, and entrepreneurial excellence. The progressive initiatives discussed will provide fertile ground for visionary individuals and businesses to flourish and make a lasting impact on the region’s economic and social landscape.
The distinguished attendees included. Nitin Yadav, IAS, Secretary IT, U.T. Chandigarh, Hargunjit Kaur, IAS, Secretary Industries, U.T. Chandigarh, and. Paviter Singh, PCS, Director Industries, U.T. Chandigarh, in addition to representatives from the Department of Education, covering higher, technical, and school education.
Loading ...
