Patiala district administration launches new project to promote entrepreneurship
Patiala, May 13
First of its kind in the country, the district administration today launched a unique project “Future Tycoons: Start-up Challenge Project” at Thapar University. The aim of the project is to give an impetus to innovative start-ups by extending seed money— funding needed at the initial stage of any new venture— and providing the platforms for new ideas, concepts and small businesses.
Under the project, the entrepreneurs—youth, self-help groups, women, differently-abled persons, small businessmen and the general public—can come forward with their dream projects which the district administration would extend every kind of help to turn them into a reality. The district administration will take the help from the local angel investors — also called private investors, seed investors— to make this unique project a success.
Divulging details, DC Sakshi Sawhney said Patiala had become the first district— not only in Punjab but also in the country— to reach out to the young enthusiasts who were involved in their own small business or were the members of any self-help groups.
She said the District Bureau of Employment Enterprises — after submission of ideas, concepts and plans from future entrepreneurs — also would select winners from them in different categories. The winners would get Rs 51,000 cash amount, along with seed funding, investment assistance from angel investors, loans and subsidies, and registration on start-up portals.
Sakshi said their objective of the said project was to provide an impetus to innovative start-ups to bring transformation in social issues, including health, education, agriculture and allied, information technology, biotechnology, rural entrepreneurship, social fabric, electronics, environment and energy.
