Enabling start-up environment boosts state’s growth story

Enabling start-up environment boosts state’s growth story

By OUR CORRESPONDENT | Raipur | 23 September, 2017
Chhattisgarh, CHiPS, Raman Singh, Chhattisgarh government, LoFR, Skill Development, Digital India
If one is an entrepreneur, then Chhattisgarh is the best destination. The state government genuinely believes in nurturing entrepreneur-talent, as today it is the need of the hour.

If one is an entrepreneur, then Chhattisgarh is the best destination. The state government genuinely believes in nurturing entrepreneur-talent, as today it is the need of the hour.  

Recently, Chief Minister Raman Singh inaugurated the “36inc.”, the state’s only incubator sanctioned under the Atal Innovation Mission. The incubator has been established under the Chhattisgarh Infotech Promotion Society (CHiPS).

While launching “36inc.”, the Chief Minister had said that his government was committed to make “Start-up Chhattisgarh” a grand success in the state and would extend full support to developing the enabling ecosystem for start-ups.

It is the first business Incubator-cum-Accelerator supported by the Chhattisgarh government. It will act as a hub for a network of incubators and accelerators across the state. Any start-up which aspires to get ideas to reality or existing business to scale with access to ace mentoring and plethora of services, can seek assistance from “36inc”.

At the incubator, selected candidates would not get mechanical support, but also expert manpower who know the in-and-out of machines. This will enable them to master technical skills.

The institution will also help the idea of incubatee to get ready and market worthy. As the need for capital is most acute in the initial years, the Leap of Faith Revolving Fund (LoFR) at “36inc” will provide up to Rs 50 lakh of three-year interest-free loan for worthy start-ups.

The government understands the importance of this initiative, which is designed in a way to attract start-up leaders, mentors, angel investors and venture capitalists across the globe to participate and become part of the Chhattisgarh growth story.

Besides start-ups, the “36inc” would also help a person who owns a scalable business, but needs money to scale it up. In a nutshell, “36Inc” is a one-stop window for people with promising, realistic ideas that can be implemented.

The government has shortlisted 36 promising start-ups under its ambitious initiative. They will now be mentored and provided support by the incubator in developing their business plan, building a prototype, market testing of the product/service and funding.

The Chhattisgarh government has been a flag-bearer in implementing programmes and schemes to reach the growing population of the state, through various verticals like Skill Development, Digital India (Bastar Net, Digital Payments), and Entrepreneurship promotion (Start-up India and Stand-up India).

With the launch of the “Start-up India” programme by Prime Minister Narendra Modi in January 2016, the states had to prepare their action plan and start implementing the same.

In line with the “Start-up India Action Plan”, the Chhattisgarh government has launched the “Start-up Chhattisgarh Action Plan” for promoting start-ups in the state

The plan was released by the Chief Minister last year along with the roll-out of the “Start-up Chhattisgarh”programme.

 

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