To develop the State as leading global hub of Startups and Innovation to accelerate economic growth and to provide large scale entrepreneurial and job opportunities in the State.
- To develop conducive ecosystem by addressing the challenges in Enterprise, Market, Product, Knowledge,Idea, Culture.
- To create the infrastructure and environment required for promoting entrepreneurial activities.
- To foster Industry Academy linkages in building an entrepreneurial culture.
- To create a Startup friendly environment by streamlining laws, rules and regulations.
- To facilitate 1000 start-ups in 5 years
- To set up 10 incubation centres / accelerators in the State particularly focusing on Digital manufacturing, Life sciences (Biotechnology), Agro & Food Processing and Information Technology
- To build strong linkages with all the major institutions
- To facilitate 50 Entrepreneurship Development Centres in the colleges
The state of Punjab is known for the enterprising spirit of its people which brought about the ‘green revolution’ and also made Punjab a hub of small and medium enterprise. Punjab at this point of time has a startup community which is organically formed and the roots of an authentic start up ecosystem have been seeded. The state is now on a threshold of transition to a new culture of innovation and technology driven enterprise. Top-notch infrastructure, excellent connectivity, premium educational institutes and conducive government policy add to the strengths of the state.
The State government recognizes that innovation and entrepreneurship are crucial for the future growth of the economy. Startup and Entrepreneurship is one of the eight strategic pillars of the Punjab State Industrial policy-2017. The policy announces the launch of ‘Start-up Punjab’ in line with central governments ‘Start-up India’ and ‘Standup India’ initiatives.
The policy clearly recognizes the need for business incubation and co-working spaces for small entrepreneurs and new graduates. A start-up corpus of INR 100 cr. for scale up funding with a special emphasis on women and SC entrepreneurs has been set up.
Detailed Schemes and Operational Guidelines, 2018 for availing Fiscal Incentives under Industrial and Business Development Policy 2017 can be accessed at link given below.