Jaipur, the multi-cultural city famous for its forts and monuments is fast gaining prominence as a promising startup destination. With most of the major cities in India making their way ahead to become the startup hotspot, Jaipur in the same space is also making quite a progress. In the forthcoming paragraphs, we'll discuss about the blossoming startup ecosystem in the city of Jaipur.
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New Startup Policy 2015
The government has finally announced its new Startup Policy 2015. With respect to the new policy, Rajasthan government is likely to allocate USD 8.4 million (approximately 55 crores) to bring investments over USD 76 million (500 crores) to develop 500 startups in the next five years. The two of the most popular venture-funded startups in Rajasthan include Car Dekhlo and Culture Alley. What new developments the state will see with this new policy? To find out, take a look on the below mentioned points-
- As per the government officials, the state will offer USD 1.6 million (11 crore) every year to potential startups and will provide financial aid of USD 15k (approximately 10 lakhs) per startup in the form of equity or a loan.
- The state aims to set up 50 incubators in the next five years.
- The state is likely to come up with Technology Park in Jaipur with firms such as Genpact and Infosys.
- The startup domain areas include-clean-tech, art-tech, edu-tech, health-tech and IoT (Internet of Things).
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Jaipur is not only strengthening its position in the IT field, but also tightening its grip over the ecommerce sector. A huge amount of textiles and furniture are sourced from the state by ecommerce giants such as Amazon, Flipkart, Urban Ladder and Pepper Fry.
The government has high hopes from this new policy. Rajasthan, which is widely known for its handicrafts and royal lifestyle, with this policy, it will become the first North Indian state and fourth Indian state (after Kerala, Andhra Pradesh and Gujarat) to have a startup friendly policy. To further foster startup ecosystem, the state will focus more on bringing friendlier tax policies for startups and external investors.
Two Major Startup Events
Recently, Jaipur saw two major events in the startup space, namely- YourStory's TechSparks City meetup and the first ever Startup Rajasthan Festival. More than 75 entrepreneurs and professionals attended the TechSparks meetup. What makes Jaipur a favorable place for entrepreneurs? It includes, skilled pool of talent, a matured business culture, lower salary levels, cost of living, less traffic and pollution. Another important advantage that Jaipur has is its closeness to the national capital, Delhi, as it provides a readymade market for startups from Rajasthan.
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Final Say
Jaipur is growing in all directions and a lot of activities can be seen in the startup space. The growing startup ecosystem will not only contribute to the economy but also boost jobs in Jaipur. In a nutshell, if Jaipur continues its pace of current growth, in the coming years, the city will be counted amongst other leading cities of India.
Source : articlesbase.com
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