Delhi govt approves start-up policy, to hire experts to help youth set up companies

“It is a matter of joy that the Delhi Cabinet has passed the Delhi Start-up Policy. This policy was created after reviewing all start-up policies of the world and borrowing their good points. If the youth of Delhi want to start a business, the Delhi government will provide them complete assistance, handhold them and help them financially and otherwise,” he said.

“In terms of financial support, there are many things planned. For example, if they rent a place, the Delhi government can give up to half their rent. We can help with some portion of the salaries they want to give to their employees, we can return the fees for patents or copyrights. We can help with internet charges,” said Kejriwal.

He said financial assistance can also be provided to those who want to start incubation centres, and that the Delhi government will also help in providing collateral-free loans which will be interest-free for a year.

Kejriwal said that at the time of launching a start-up, young people spend 90% of their time in various bureaucratic processes and only 10% on their actual business ideas. “We have decided to hire various agencies and professionals and we will create a panel of experts, with chartered accountants and lawyers. Anybody who wishes to launch a start-up can go to them and seek assistance free of cost… The Delhi government will pay these experts,” he said.

“If a college student in a Delhi government college makes a product at the time of his studies, the government will give them leave for two years to work on the product, after which they can complete their degree,” he added.

He said the panel of experts would help with a range of issues from marketing, social media, patent and trademark filing, filing GST, finding investors, how to seek approval from various agencies etc.

“A 20-member task force is also being created. This will have one government officer, academics will constitute about 10% and 85% of people will be from the industry. If anybody wants to register under the Delhi government’s start-up policy, they will apply to the task force, and the task force will decide whether to register them,” he said.

“I think after this start-up policy, there will be a major boom in start-ups in Delhi, and I hope that in the coming days, the youth of Delhi will make unicorns and big companies come up here,” said Kejriwal. He said the business blasters programme, entrepreneurship curriculum which is being taught in schools, will also be taught in colleges.