Last updated: December 17th, 2019 5:07 PM

Startup Scheme - Himachal Pradesh

The Government of Himachal Pradesh has initiated a Startup Scheme for industries to provide financial assistance to unemployed youth to develop new entrepreneurial ventures andself-employmentt opportunities. In this article, we look at the Startup Scheme of the Himachal Pradesh Government in detail.

Objective of the Scheme

The following are the objectives of the scheme

• To promote self-employment and generation of employment.
• To support new ideas, products, and processes for commercialization and Startups.
• To setup incubation centres in the state.
• To facilitate innovation projects and adequate investment to startups.
• To improve human capital and industrial development in the state.

Benefits of the Scheme

The benefits of startup scheme are as follows:

• Providing financial assistance up to 30 Lakhs per incubator (startups) organizations.
• Stamp duty for startup units reduced by 3%.
• Inspection for industrial units will not be done for 3 years.
• The Department of Industry has fixed the interest rates to 50% on the plots for setting up an industry.

Eligibility Criteria                                           

The eligibility criteria for applying startup scheme are listed below:

• The applicant should be a resident of Himachal Pradesh.
• All new startups and innovation projects are eligible under this scheme.
• The applicant should be in the age group between 18 years to 40 years of age.

Self Certification in Startup Scheme

All the new enterprises eligible for applying under this scheme are required to produce self-certified documents. Self-certification will lesser the burden on startups. Startups are allowed to self-certify compliance with labour laws and other mandatory laws.

Industrial Sectors covered under this scheme

The following are the fields focused in this scheme are as follows:

• Technology-driven innovation in any sector
• Rural infrastructure and facilities, crafts, arts, water and sanitation, renewable energy, healthcare, etc.
• Cleantech
• Agriculture and Horticulture
• Food processing
• Retail business
• Tourism and hospitality
• Mobile, IT and ITes including hardware
• Biotechnology

Application Procedure

To register for startup scheme in Himachal Pradesh, follow the steps specified below: Step 1: The applicant need to submit an application form along with self-certified documents to the concerned authority of the industries department. Step 2: After submitting the application the concerned department will issue a provisional registration within 15 days from the date of application.