Rajasthan To Become Start Up Hub Soon

Rajasthan government is all set to promote Start Ups in the state by creating conducive ecosystem for the fledgling entrepreneurs. Bureau of Investment Promotion (BIP) Commissioner Vaibhav Galriya , while speaking at a Start Up conference organised by PHD Chamber of Commerce, said that the state government would set up incubation centres at various locations to promote new business initiatives in the state.

“The time is right for Start Ups to start in Rajasthan where the government is so proactive. We are here to nurture and fund great ideas. This land of entrepreneurs is bound to get more new businessmen in time to come. ,” he said.

The conference was aimed at creating awareness about Start Ups and the way to attract venture capital and finance for start up project.

Ajay Data, chairman of PHD Chamber of Commerce said that mentoring is very important aspect of Start Ups besides arranging for finance and ideas. “As a mentor I have been associated with several start ups. They come to me for guidance but then I share my experience with them which when they implement may give them desired results. I also started as a Start Up when I founded Data Infosys Limited. That was the time when no one knew what Internet is,” he said.

Dr. Data said, our Hon`ble Chief Minister Smt. Vasundhra Raje is quite positive about startups and recently announced 10.85 crore for startups and also celebrating Rajasthan IT Day on 21st March 2015 mainly focused on startups. This event is supported by iSpirt, PHD Chamber and TIE Rajasthan.

Vivek Malhotra, general manager, SIDBI said that the bank has a fund of Rs 2000 crore for supporting StartUps. “SIDBI plays a proactive role in development of business environment. We are here to support any good business idea,” he said.

Girish Gupta, CEO, Rajasthan Venture Capital Fund (RVCF) said that India is the fastest growing country in terms of Start Ups. “We are growing at the rate of 40%, which is highest in the world. RVCF is committed to provide easy finance to new as well as established companies. We will be lending at least one-third to Rajasthan based companies,” he said.

Sandeep Jhanwar, partner, MGB & Co said that Start Up is not a new concept. “It was there in Indian family since time immemorial. At least one in every business family used to be a start up and the family and friend used to support him. Now, the only difference is there are no boundations to have a business background to be a start Up,” he said.

Deepanshu Khandelwal, co founder of The techportal.in said that money is not a problem for good ideas and concept. “There are many investors who are waiting for investment opportunities to come. If you have good ideas, just go ahead, funds will follow you,” he said.