Punjab, Haryana yet to come out with startup policy

Vijay C Roy

Tribune News Service

Chandigarh, April 14

Punjab and Haryana made tall claims about the success of their respective investors’ summits but it seems the new startups are not much in focus for both the states. Though lesser-known states for startups like Madhya Pradesh, Chattisgarh, Orissa, Rajasthan and Himachal have come out with startup policy for budding entrepreneurs, Punjab and Haryana are yet to introduce policy for them. 

The Punjab investment summit saw a total investment commitment of Rs 1.15 lakh crore while the Haryana Government signed MoUs worth Rs 5.84 lakh crore during the investor summit.

According to experts, southern states like Karnataka, Kerala, Andhra Pradesh and Telangana are doing better than the rest of the country in shaping and implementing policies for supporting startups. 

Recently in the state Budget, Himachal Pradesh Chief Minister Virbhadra Singh, who also holds the finance portfolio, announced a startup scheme to encourage new enterprises in the state.

According to the policy, new enterprises in the state will be required to submit self-certified documents for registration. Also, provisional registration will come within 15 days of submission of documents. Further, the Department of Industries will provide cheap land to units providing employment to 100 residents of the state.

Sources in Himachal Pradesh government said, “We expect the policy will promote budding entrepreneurs and many startups will start operations in areas like Baddi, Barotiwala, Una and Paonta Sahib which we are trying to develop as startup hubs.” 

Though Punjab announced a startup fund of Rs 100 crore for young entrepreneurs in 2015, it is yet to come out with the policy. Speaking to The Tribune, a senior official in the Punjab Government said the state was formulating a new startup policy which is at conception stage.

In the region, the startup revolution is quietly brewing with the formation of the country’s first Startup Accelerator Chamber of Commerce (SACC), which has set up an incubator in Mohali, Startup in a Box, home to over 20 startups, with mentoring and networking as its strength. Also, Chandigarh Angels Network is responding to funding needs of startups, and even STPI (Software Technology Park of India) in Mohali is coming up with a huge 500-seat incubation facility. 

At the state-level, CII is working with Punjab and Haryana for dedicated and focused startup policies.