Goa is striving to become a hub for startups, innovators and entrepreneurs. In a bid to give a much needed boost to economic growth and transform into a sought-after destination, Goa has rolled out a Startup Policy 2025.
Not only does the policy aim to encourage women to participate in entrepreneurship but also offers them incentives to do so. The objective is to accelerate economic growth by giving a push to its budding startup ecosystem. The policy pledges to generate 10,000 jobs for local youth via the establishment of about 1,000 startups.The state cabinet is very optimistic about the policy and approves the same.
As per the policy, government entities and startups will collaborate to encourage innovation and private-public tie-up. The state government will lend support and mentor startups that have something different to offer. The state government will also offer training and skill-building resources for startups.
The aim of the policy is to help create an environment in the state that will allow startups to grow and draw diverse talent.
The policy talks of dedicated funds that will emerge from collaboration with industry and investors so that new ventures can be given the required financial support. Support will also be offered in the form of lease subsidies and marketing assistance.
About 280 startups are already growing with state incentives under various schemes having offered necessary support.
Will the policy help Goa become one of the top 25 startups destinations in Asia? That remains to be seen.
