(IANS) The Alliance of Digital India Foundation (ADIF) on Friday welcomed the ‘Delhi Startup Policy’ which aims to support 15,000 startups by 2030 and generate new avenues of employment.
Delhi Chief Minister Arvind Kejriwal has said that the government will provide fiscal and non-fiscal incentives to youth who want to build startups.
“The National Capital Region, which is already a hub for start-ups in India, will see an accelerated transformation under the aegis of these integrated and effective policy pillars in the coming years,” the ADIF said in a statement.
“The multiplier effect of this ambitious policy will help boost the startup ecosystem of our entire nation,” added the foundation that represents hundreds of startups.
The Delhi government will pay up to 50 per cent of the rent of a startup’s office lease or pitch in for a portion of the salaries that these startups will pay to their employees.
“We will also reimburse them for the costs incurred on applying for patents, copyrights and trademarks,” Kejriwal said.
According to the Economic Survey 2021-22, Delhi has replaced Bengaluru as the startup capital of India.
Between April 2019 to December 2021, more than 5,000 recognised start-ups were added in Delhi while 4,514 startups were added in Bengaluru.
The Delhi government said it would also offer collateral-free and interest-free loans to incentivise incubation centres and fabrication labs.
A 20-member task force will also be set up to oversee the registration of startups.
“The policy targets a holistic growth of the capital’s startup ecosystem and promises to manifest the ambitious goals envisioned by the youth,” said the ADIF.