Rajasthan Startup Policy 2015 – State Will Be A World Beater In Startups Says CM Vasundhara Raje

Rajasthan CM Vasundhara Raje said: “If Bangalore is where it all began in startups, I can assure you Rajasthan is where it will be. Rajasthan is a world-beater and will remain so in the times to come.”

The Rajasthan Chief Minister, Smt. Vasundhara Raje, unveiled the ‘Rajasthan Startup Policy – 2015’ while inaugurating the first edition of the ‘Rajasthan Startup Fest’, a national level startup event designed to boost entrepreneurship in the state. The ‘Rajasthan Startup Fest’ has been organised by the Rajasthan State Industrial Development & Investment Corporation (RIICO); Startup Oasis, a Jaipur based incubation centre set up by RIICO and CIIE; and the Centre for Innovation, Incubation & Entrepreneurship (CIIE) of the Indian Institute of Management (IIM), Ahmedabad.

Speaking at the inauguration of the Startup Fest, Smt. Raje said: “If Bangalore is where it all began in startups, I can assure you Rajasthan is where it will be. Rajasthan is a world-beater and will remain so in the times to come.”

The Rajasthan Startup Policy is designed to galvanize the startup ecosystem and give the required sustenance to the entrepreneurial talent native to the people of the state.

Chief Minister Raje added: “I am sure that the young and budding entrepreneurs and startups that are on the threshold of taking off shall take advantage of the Rajasthan Startup Policy-2015 and the dynamic environment being provided by the startup fest to take their careers, companies and the country to greater heights.”

Key highlights of Rajasthan Startup Policy 2015 include
Key 5-Year Targets identified by the Rajasthan Startup Policy 2015:

• 50 Incubators / Incubator-like Organizations to be established.

• 500 innovative startups to be supported and incubated.

• 100,000 sq ft of Incubation Space to be developed / facilitated.

• Angel and Venture Capital of Rs 500 Cr to be mobilized for startups.

• Development of an Innovation and Problem Solving Culture across the State.

Key Focus Areas of the Rajasthan Startup Policy:

• Social and Cleantech – Rural Infrastructure & Services, Crafts, Water, Sanitation, Renewable Energy and Healthcare, including asset light models of healthcare delivery and medical devices.

• Mobile and Information Technology, including but not limited to crowd sourcing, crowd funding, online financial services

• Internet of Things (IoT), Electronics and Hardware.

• IT for X’ in the areas of Garment and Crafts, Mining and SME Manufacturing and Services.

• Disruptive ideas/Technologies in any sector

Speaking at the inauguration, Shri CS Rajan, Chief Secretary, Government of Rajasthan, said that Jaipur has now overtaken Bangalore in terms of the number of deals that have happened in the last 6 months in angel funding and venture capital funding.

“Jaipur is fast becoming the next startup hub of India with excellent social and physical infrastructure, low cost of living, large number of technical and professional colleges and proximity to NCR,” Shri Rajan added.

Shri Gajendra Singh, Khimsar, Industries Minister, Rajasthan; Shri Arun Nanda, Chairman, Mahindra Holidays & Resorts India Limited; Shri Kunal Upadhyay, CEO, CIIE, IIM Ahmedabad; Shri Rajesh Agarwal, Co-founder & Managing Director, Micromax; and Shri Nagaraj Prakasam, Partner, Acumen Fund also spoke on the occasion.

The Rajasthan Startup Fest brings together on one platform more than 500 individuals associated with the startup industry, including the promoters of 100 startups, 20 angel and venture capital investors, 30 mentors and startup coaches and 50 speakers.

The Fest comprises multiple tracks of scouting, incubation and acceleration of startup, covering sectors like the Internet, hardware, mobile, social, and disruptive ideas & technologies. Multiple demonstrations, pitches and product launches will be held on both the days of the event interspersed with high energy interactions, talks, panel discussions and mentoring sessions. The topics of panel discussions include Startup Funding, Fostering a Startup & Innovation Ecosystem, and Hustling & Growth Hacking, among others. A special business plan competition has also been organised for students with prize money of up to Rs. 1 lakh.

Around 50 high potential product startups are showcasing their products and business models in the Startup Showcase at the event.
Through the announcements made at the event, it appears that the Government is aggressive about making Rajasthan one of the top startup hubs in the nation. In August 2015, Indian Finance Minister Arun Jaitley had announced a Rs. 2,000 crore fund to support startups in the country.