Gujarat to invest Rs. 200 crore under Student Start-up Policy

Vibrant Gujarat was an idea dreamt by the authorities in the state of Gujarat a few years ago. Since then, the State has come a long way in order to fulfill this dream of theirs, bringing it amongst the top states in the nation that have shown growth over the past 2 decades. One of these ideas pivotal in Gujarat’s growth was the student start-up program launched last year by the Gujarat Technological University (GTU). The program was launched through a Massive Online Open Course (MOOC) in the name: “Six ways: Introduction to student start-ups.”

The idea of the program was to enable the students studying in their final years of college to convert their project ideas into functioning start-ups. The Director of GTU Innovation Council, HiranmayMahanta had said that “One of the key objectives of this programme is to see entrepreneurship training/exposure as an alternative vehicle for skill development. Even if students try hands on and fail in their college days, it will equip them with modern skill sets which the academic environment does not teach.”

Now, recent developments in the news are that the government of Gujarat has granted a sum of 200 crore rupees in making the dreams of these youngsters come true. This new policy will support over 1000 innovations per year and will also create all the support needed for the students to create their projects into well-functioning start-ups. This policy seems like an addition to the ‘Make in India’ policy of the Indian government.

Not only will the policy be able to fund the start-up to the needed amounts but also create an Innovation and Pre-incubation Ecosystem Support (IPIES) for the students to successfully hire new people and support for the project to become a reality. “The policy’s target is to create a conducive environment enabling 1% of our graduates to become job creators, and the Student Innovation Fund would help develop an innovation and pre-incubation ecosystem across the state,” said Bhupendrasinh Chudasama, Minister of Education, Gujarat government. The policy will also cover the expenses and support required for the students for prototype development and patent filing.

With this being said, the future of entrepreneurship in the state of Gujarat looks promising, and also the support of the ministry of Education in the state seems to be never ending.

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