Tier-2 cities like Nagpur encouraging startup ecosystems: CM

Nagpur: In line with the state's commitment to fostering entrepreneurship, chief minister Devendra Fadnavis said that Nagpur, along with other Tier-2 cities like Nashik and Kolhapur, is playing a crucial role in Maharashtra's startup growth. He pointed out that these cities are increasingly contributing to the development of a robust entrepreneurial ecosystem, backed by supportive policies and infrastructure.Fadnavis made the announcement during his address at the National Startup Day event, held at the Jio World Center in Mumbai on Thursday.
Additionally, the Nagpur division will benefit from a major boost in its startup ecosystem as the Small Industries Development Bank of India (SIDBI) has allocated Rs200 crore to support innovation across all the regional divisions in Maharashtra. Under this, the division, comprising six districts, will receive Rs30 crore, reinforcing its growing prominence as a hub for entrepreneurs in the state. This funding, which is part of SIDBI's new initiative to support startups, comes alongside the announcement of a new, modern draft of the startup policy aimed at fostering growth and innovation.
Fadnavis, in his address, also emphasised Maharashtra's leadership in India's startup revolution, highlighting that the state now has over 26,000 startups. The chief minister also noted that Maharashtra is one of the top seven states in the country for startups and that the state is leading the way in promoting innovation, especially with an emphasis on women entrepreneurs.
In addition to financial support, the state is investing in infrastructure to support innovation. This includes strengthening the role of universities and incubators as key players in building a sustainable startup ecosystem. Fadnavis highlighted the importance of institutions in empowering young people from rural areas, providing them with the resources needed to succeed in the startup world. The event also witnessed the signing of a Memorandum of Understanding (MoU) for the Rs200 crore funding.
Fadnavis added that AI will become a centre of excellence by empowering startups. "AI is the future of technology. AI technology will be a great contributor to startups. This will not only create industry opportunities but also employment opportunities," he said. The chief minister also appealed to the entrepreneurs present to work with the state govt to bring the state to the forefront of startups.