Madhya Pradesh's Strategic Push For Startups

Bhopal: Madhya Pradesh is offering financial assistance as well as a comprehensive framework to foster a robust startup ecosystem that could incubate innovations and create employment. The state government introduced the 'MP Startup Policy and Implementation Scheme 2022' that of-fers startups a financial support of up to 18 per cent of their total funding or investment, subject to a cap of Rs 18 lakh, according to the policy document.

This assistance is provided separately for each investment stage, with a maximum of four stages during the startup's lifecycle. The policy outlines a comprehensive framework for the establish-ment and growth of startups, including financial incentives, infrastructure support, and capacity-building initiatives.

Madhya Pradesh, often referred to as the heart of India, is brimming with natural resources and boasts over 300 industrial parks. With a population exceeding 8 crore, the state is home to a thriving talent pool, with fresh graduates emerging annually from more than 1,287 industrial training institutes, 1,373 government and private colleges, and several top-tier universities, including IIT and IIM in Indore.

The state's commitment to fostering entrepreneurship is evident in its strategic policies, which have led to the establishment of over 4,900 recognised startups. With industrial parks dedicated to various sectors such as IT, semiconductors, textiles, automotive, and solar, Madhya Pradesh offers an ideal environment for new businesses to thrive. During a recent visit to Japan, Chief Minister Mohan Yadav reiterated the state's dedication to supporting investors, emphasising sta-ble policy frameworks to back their investments.