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Gujarat Entrepreneurial EcosystemNew Policy Initiatives
India is the 3rd Largest & Fastest Growing Startup Base
4,200+ Startups
3-4 Startups are born each day
Average age of Startup founders in India is 28 years (36 years in Silicon Valley)
110 Incubators/Accelerators (40% growth since 2014)
490 Active Investors (123% growth since 2014)
Total Funding of $5 Billion in 2015 (125% growth over 2014)
Approx. 85,000 employed in Startups
Earlier: Startups were visible mainly in areas such as technology/internet and non-tech sectors like grocery and food deliveryNow: They are increasingly visible in other sectors like manufacturing
GoI has drawn out an action plan to catalyze entrepreneurship
The pillars of support:
Simplification and Handholding
Funding Support and Incentives
Industry-Academia Partnership and
Incubation
Giving a big push to Startups, GoI in January 2016 launched the ambitious Startup India Action Plan.
The plan lists out incentives for development and growth of Startups, comprehensive set of structural and regulatory reforms, and collaborations between Industry and Academia to bolster the Startup Ecosystem.
Timeline: 4 years, with incentives provided for 3 years.
Key initiatives for Startups
Central funding of Rs. 10,000 crore
‘fund of funds’
Self-certification, to reduce
regulatory burden
Mandatory 20% procurement from Startups, by
Governments and PSUs
"Startup Hub" for knowledge exchange
and funding
Mobile app for registration, single
window clearance and exit
Panel of facilitators for filing patent
applications
Credit guarantee fund with a corpus
of Rs. 500 crore
Tax exemption on capital gains
extended
Income tax exemption for 3 years
International and National startup fests
Atal Innovation
Mission
Funding support for development
of incubators (PPP)
New research
parks
Annual incubator
grand challenge
Gujarat is among the first states to roll out an incentive policy for Startups
Gujarat is known for its enterprising community and industries.
Natural choice for EntrepreneursInvestor-friendly business climate, robust infrastructure, rich natural resources, skilled manpower & supporting Government polices.
Government has been promoting start-ups by focusing on identification of business ideas & opportunities, supporting in networking, mentoring and incubation.
Ahmedabad is an “Emerging City” for Startups (NASSCOM Newsletter 2015)
1st in Ease of Doing Business, as per DIPP and World Bank
One of the top states in India for Start-ups, as per India SME Forum
Highest Investment Potential in India, as per National Council of Applied Economic Research (NCAER)
Conducive Business Environment Standout Achievements
Notable Startups in Gujarat
Gujarat has an enabling entrepreneurial ecosystem
1 Entrepreneurs
2 Mentors
3 Incubators and Accelerators
4Funding Agencies : Angel Investors and Venture Capitalists
5 Government and Regulators
Robust network of:
Gujarat based entrepreneurs have enjoyed phenomenal success in their businesses
“Entrepreneurship” is revered almost as a religion
Entrepreneurs have inherent spirit of adventure and huge appetite for risk
Entrepreneurs are respected and there in no taboo attached with it
Entrepreneurs have the right mind-set and social conditioning required to nurture entrepreneurship
Presence of mentors recognized globally for their excellence and contributions
ISRO, PRL, EDI, IIM, IIT, NIT, GTU, MICA, PDPU, DAIICT, IRMA, CEPT etc.
As part of Student Startup Support System, many institutes have incorporated Entrepreneurship in their curriculumGTU offers specialization in Technology Entrepreneurship while EDI offers PGDM in Business Entrepreneurship.
Industry associations/organizations like TiE, CII, Gujarat Chamber of Commerce, FICCI, NASSCOM, etc. encourage entrepreneurship
Presence of Industrial Training Institutes (ITIs) in each district
Strong presence of Incubators and Accelerators
IncubatorsMany universities have taken a progressive step and setup incubation centres for promoting and nurturing the innovations of aspiring entrepreneurs in different sectors.
AcceleratorsAccelerators conceptualize and organize engaging entrepreneurial programmes for entrepreneurs to connect, share and collaborate with each other.
Events/exhibitions/seminars are organized round the year by institutions like iCreate, EDI, CIIE, TiE, SRISTI, NIF, etc.Platform for entrepreneurs to discuss, display and share products/ business ideas with others.
Approved Nodal Institutions
Sr. Name of Nodal Institute
1 Gujarat Technological University, Ahmedabad
2 MICA Incubator, Ahmedabad
3 CIIE, IIM, Ahmedabad
4 Venture Studio, Ahmedabad
5 IIT Gandhinagar
6 Innovation & Incubation Centre, PDPU, Gandhinagar
7 DAIICT, Gandhinagar
8 Lok Jagruti Kendra, Ahmedabad
Sr. Name of Nodal Institute
9 Ganpat University, Mehsana
10 GLS University, Ahmedabad
11 iCreate, Ahmedabad
12 GSBTM, Savli
13 NID, Ahmedabad
14 EDI, Bhat, Gandhinagar
15 Innovify Research Foundation
16 Kadi Sarva Vidyalaya Kelavani Mandal
Funding Agencies
Venture Capital/ Private Equity Funds
Gujarat Venture Finance Ltd (GVFL)
Infuse Ventures
Angel Funds
Gujarat Angel Investor Network (GAIN)
Ahmedabad Angel Network
Incube Ventures
Ahmedabad Venture Alliance
Rajkot Angel Investors
O2H Ventures
GVFL has supported
over 70 companies,
till date.
• Funding is provided by leading institutions such Gujarat Venture Finance Ltd (GVFL) and Gujarat Angel Investors Network (GAIN).
• GVFL: Backed by National and International Institutions like CDC–UK, HDFC, ICICI and variousState Corporations. It is one of the few Venture Capitalists (VC) to witness complete life-cycle of VC investment.
• GAIN: Focuses exclusively on start-ups and early-stage companies in smaller cities and towns.
Gujarat Startup Mission will provide a platform to support Startups
Strategic Location
Growing Hubs
Strong Talent Pool
Ease of Doing
Business
Robust Infrastructure
Start-Up Policy
Strong Economic
Growth
Start-Up Funding
Start your Entrepreneurial Journey in the emerging Startup destination of India
Gujarat Startup Mission
Will be started to give concrete shape to the innovative ideas
of the youth of the State
State Government has earmarked Rs. 97 Crore for Startups
As part of Youth Development Year, the Government will assist the youth in various ways to equip them professionally and encourage their innovative ideas
Provision of funds in the Budget for 2016-17 for:
• Encouraging Startup and MSME projects• Effective implementation of the Startup policy• Corpus fund to accelerate incubation, innovation and Startup
through iCreate
Scheme for Assistance for Startups under Industrial Policy 2015
Aim is to support 2500 Startups over a period of 5 years
Government has introduced the “Scheme for Assistance for Startups/ Innovation” with start-up fund allocation of Rs. 250 Crore, with the aim of:
Developing entrepreneurial skills in youth by providing them mentoring services and range of facilities
Creating a favourable ecosystem for Start-ups, Innovation and Technology Transfer
*The scheme has come in to force from January 2015
Quantum of Assistance
Sustenance Allowance• Rs. 10,000 per month to the innovation team as
sustenance allowance for a period of 1 year, for projects recommended by the Approval Committee of the Nodal Institution
Mentoring Service• Rs. 5 Lakh to Nodal Institution for mentoring
services
Development/Prototype/Proof of Concept• Rs. 10 Lakh for development/prototype/proof of
concept. Nodal Institution may use this for purchasing materials, equipments and sources for market development
Startups/Innovators will be supported in concepts by getting them free access to:
• University Libraries • Government
Laboratories• SDC (GIDC) • Centres of Excellence• PSUs• Other Establishments
Additional assistance when idea gets approved for commercialization
Funding • Assistance in getting Angel Funding and Venture Capital
Marketing/ Publicity
• Marketing/publicity assistance of up to Rs. 10 Lakh for introduction of product/service in the market
VAT Related Incentive
• Reimbursement to the extent of 80% of Net VAT paid (excluding Additional Tax & Reduction of ITC as per GVAT Act 2003)
Other benefits as per MSME schemes will also be available
Procedure for availing assistance
Procedure for availing assistance
Startup/Innovator will approach a Nodal
Institution with an innovative
idea/concept.
The Approval Committee of the
Nodal Institution will review and approve
the idea/concept.
Once approved, the Nodal Institution will submit proposal for availing assistance
for mentoring services.
State Level Implementation
Committee (SLIC) will sanction the
assistance based on number of innovators.
Nodal Institution will submit proposal for availing assistance
for materials, equipments and
sources for market development.
State Level Implementation
Committee (SLIC) will sanction the
assistance.
Once the idea gets ready for commercialization, the Startup/Innovator will apply to the Government for availing additional assistance.
THANK YOU
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