MP Lalwani's push to make city national capital for start-ups

Funding & mentoring for top 25 start-ups of Indore

Staff Reporter | Updated on: Tuesday, January 18, 2022, 06:45 PM IST


Indore: To support start-ups in the city and with a dream to make Indore the national start-up city of India, MP Shankar Lalwani has launched a portal for funding top 25 start-ups in the city. The scheme is ready and available for interested start-ups.

Start-ups can be recommended by others to be considered for funding. The scheme will support and encourage 25 start-ups in the first phase. Under the 'Sansad Seva Sankalp', Lalwani wants to make Indore a start-up capital.Lalwani said that India is rapidly emerging as a start-up nation under the leadership of PM Narendra Modi and start-ups are an essential part of our future.

“Start-ups of Indore are also making their mark at the national level. To promote start-ups, 25 start-ups of Indore will be encouraged under the Sansad Sewa Sankalp and will be linked with the facilities of funding, mentoring etc,” Lalwani said.

Lalwani informed that Union Minister Piyush Goyal has also requested venture capitalists and big investors to invest in Tier-2 cities.To participate in the said scheme, a form has to be filled by login on the website and after that a committee will consider all the applications and select 25 start-ups. The selected start-ups will be provided with mentoring, funding and other requirements with the help of partnerships.

Why Indore can become the Start-up city of India?

In 2016, it formulated the Madhya Pradesh Incubation and Start-up Policy to align the State with the Centre’s ‘Start-up India’ initiative. It intends to offer incentives to the State’s start-ups and incubators in addition to those provided by the Central government.This has led to the surge in the number of start-ups in Madhya Pradesh, especially in Indore. According to market research, Indore has nearly 461 tech start-ups.

Considered an education hub, Indore has campuses of both the Indian Institute of Management (IIM) and the Indian Institute of Technology (IIT). Low operation costs, high infrastructure growth, economical cost of living, and being geographically located centrally is also giving a fillip to the ecosystem in the State.

Indore also hosts the Global Investors Summit, attracting domestic and foreign investment for the development of the State.

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Published on: Tuesday, January 18, 2022, 06:45 PM IST