By | Arvind Jadhav | Political News
Mumbai : The Maharashtra Cabinet has approved the new Startup, Entrepreneurship and Innovation Policy 2025, with ambitious targets to create 1.25 lakh new entrepreneurs and 50 lakh new jobs in the next five years. The policy aims to approve 50,000 start-ups and make Maharashtra the most dynamic and future-oriented startup hub of India.
The policy mandates all government departments to spend 0.5 per cent of their annual budget funds on innovation and entrepreneurship. A 300-acre innovation city centre will be set up in Navi Mumbai to foster research and innovation. The policy provides special incentives to start-ups in urban and rural areas, as well as those run by women and youth. Additionally, the Chief Minister’s “Maha-Fund” will be set up with a corpus of Rs 500 crore to provide guidance, incubation, and financial support to 25,000 entrepreneurs.
The new policy aims to make Maharashtra a hub for start-ups and entrepreneurship. It will be implemented through the Maharashtra State Innovation Society (MSIS) and will be reviewed after five years. The policy has been prepared by the state’s Skill, Employment, Entrepreneurship and Innovation Department.
With 29,147 start-ups already registered in the state, the new policy is expected to boost the start-up ecosystem in Maharashtra. The policy’s focus on emerging technical and disadvantaged communities, including urban, rural, women, and young entrepreneurs, is expected to promote inclusivity and diversity in the start-up ecosystem. The new startup policy is a significant step towards promoting entrepreneurship and innovation in Maharashtra, and with its ambitious targets and focus on inclusivity, it is expected to make a positive impact on the state’s economy and start-up ecosystem.
