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MP to be a new destination for startups in India: CM Shivraj Singh Chouhan

29 Sep 2018

Chief Minister Shri Shivraj Singh Chouhan said that the youths of the state will be provided loan up to Rs 10 lakhs without interest and seed capital for startups. Innovation Council will be formed in the state. Madhya Pradesh will become the Entrepreneur Network. Startups will be provided better environment and facilities in the state. Madhya Pradesh will be the new destination for startups in the country. CM Chouhan was addressing young entrepreneurs at the Startup Conclave in Bhopal on September 29. At the outset, the Chief Minister dedicated Bhopal Metro Project office and laid the foundation for works worth Rs 800 crores.

The Chief Minister said that startups will be encouraged to provide opportunities to youths of Madhya Pradesh to fulfil their ambition and give natural expression to their talents. He said that incubation centres are being made in all seven smart cities of the state. All facilities will be provided to the youth to launch startups. Incubation centres on PPP model will be started in selected colleges. A Venture Capital Fund has been made for innovative ideas in the state. Mukhya Mantri Yuva Udyami Yojana will also be linked to this. Successful industrialists will be told to mentor incubation centres. The Chief Minister said that there are widespread possibilities for startups in fields like agriculture, tourism and transport in the state. An industrial corridor will be built near the three new Express Highways of the state including Indore-Bhopal, Chambal Expressway and Narmada Express Highway.

CM Chouhan said that in the last fifteen years, the state has emerged from the ‘Bimaru’ category and has become a developed state. Basic requirements of road, electricity and irrigation have been fulfilled in these years. The Narmada-Kshipra link project and Narmada-Gambhir Link Project have been started in the state. Irrigation potential has been increased from 7.5 lakh hectare to 40 lakh hectares. The availability of electricity has increased from 2900 MW to 18 thousand 800 MW. He said that the start-up is needed for value addition of agricultural products. Electricity generation is being considered by installing a solar panel in the Indira Sagar project. He told the youth that nothing is impossible. Youth should become givers of jobs not takers.

20 thousand start-ups started in the country

Chief Executive Officer, NITI Aayog, Shri Amitabh Kant said that India's gross domestic product rate is 7.5 per cent. In the next 30 years, the target of increasing GDP growth is 9 to 10 per cent. This goal would be possible only by promoting start-up. The Centre had formed a startup policy in January 2016 following which several startups came up in one and a half years. Madhya Pradesh took the initiative by forming its startup policy in the year 2016. The ecosystem created in Indore for startups is commendable. Rs 10 thousand crore fund has been created in the country for startups. Startups will be charged with a zero per cent income tax for any three years in the initial 7 years. Production from startups will be purchased for Government of India undertakings. In the last four years, 20 thousand startups have begun in the country, out of which 4500 are technology startups. 1100 multinational companies in the country have established research and development units in the country.

Chief Secretary Shri BP Singh mentioned that Madhya Pradesh is ahead of Karnataka, Maharashtra, Tamil Nadu, Punjab in Ease of Doing Business. Rs. 7 thousand 51 crores have been provided to the micro, small and medium industries in the last 5 years in the state. There are 346 startups in the state. A Venture Fund of Rs. 100 crores have been made in the state for startups. A startup policy has been formed in the year 2016.

Founder and Chief Executive Officer of Impetus Shri Pravin Kankaria said at the Conclave that in the last ten years, a better environment has been created for industries in the state. Farsightedness is must along with efforts for startups. Founder and Chief Executive Officer of Art Global Infotech, Shri Rahul Gupta, shared his experiences in the field of startups. Chief Executive of Start-Up-Your-Story, Sushri Shraddha Sharma conducted the future session of startups in Madhya Pradesh.

Conversation with youth

CM Chouhan had direct interaction through video conferencing with participants of Indore, Gwalior, Ujjain and Sagar present at the Startup Conclave. In a warm discussion with CM Chouhan, the participants informed him about expectations, schemes and needs related to startups and shared their suggestions. CM Chouhan said that they must present new ideas at the incubation centre. They will be provided with assistance, facilities and advice by experts at various phases affiliated to the establishment of the startup.

The Chief Minister appealed to the successful startup entrepreneurs to help new startups and take initiatives like Venture Fund. Expressing her gratitude to the state for the assistance provided to successful startup entrepreneurs, Vidisha’s successful startup entrepreneur Smt. Priya Dubey advised successful startups on providing financial assistance to new startups

Answering questions regarding the marketing of the products of Bhopal’s Shri Amitesh’s startup and sale of biodegradable cutlery of Shri Vikas Jain of Sagar, CM Chouhan said that government is making provision for purchase of products of the startup up to the value of Rs 30 lakhs without tender.

Expressing his gratitude to the Chief Minister for the efforts of the government in bringing big investors in IT sector in Indore, Ujjain’s Shri Akash Tiwari laid stress on the need for a single window for startups. Speaking with Sushri Moulshree Singh, a student of Jabalpur, CM Chouhan informed her about the availability of government data in the public domain and presence of incubation centre for necessary assistance.

CM Chouhan informed about assistance, amenities and facilities to begin startups with the help of Venture Capital to Shri Suyash Singh of Gwalior. He informed Shri Jagat, a successful startup entrepreneur of Indore that necessary guidance and financial assistance can be obtained from M.S.M.E Department in expanding startup at national and international level. The Chief Minister had a friendly discussion with startup representatives.