Question: I want to know about Scheme For Assistance For Start Ups/ Innovation. What does it offer?

Answer: :Social issue that a startup intends to addressMission of the startupVision of the startupDescription of product/ serviceHow does it
work?Tentative action plan for the next 3-5 yearsDetails of the stakeholders who benefited from the social impact generated by the
startupDescribe the measurable social impact generated by the startup. You must support it with photographs, interviews/testimonials of
stakeholders/beneficiaries, recognitions or achievements, etc.Describe the non-measurable social impact generated by the startup. You
must support it with photographs, interviews/testimonials of stakeholders/beneficiaries, recognitions or achievements, etc.2. Evaluation
matrix by Nodal Institution3. Recommendation form by Nodal Institution (format is attached for reference)Frequently Asked
QuestionsWhat Is The Objective Of The Scheme For Assistance For Start-Ups/Innovation?Ans: The objective of the scheme is to
encourage and support start-ups and innovative projects in the state of Gujarat.Who Is Eligible To Apply For The Scheme?Ans: Any
individual, group of individuals, or registered companies in the state of Gujarat with innovative business ideas are eligible to apply for
the scheme.Is There Any Age Limit For The Applicant?Ans: No, there is no age limit for the applicant to apply for the scheme.What Is
The Maximum Amount Of Financial Assistance Provided Under The Scheme?Ans: The maximum amount of financial assistance
provided under the scheme is INR 50 lakhs.What Is The Duration Of The Scheme?Ans: The scheme is valid for a period of five years
from the date of implementation.What Is The Application Process For The Scheme?Ans: The application process for the scheme
involves filling an online application form and submitting the required documents.Can An Applicant Submit More Than One
Application?Ans: No, an applicant can submit only one application for the scheme.How Long Does It Take To Get A Response After
Submitting The Application?Ans: The response time for the application varies and may take up to 30 days.What Is The Selection
Process For The Scheme?Ans: The selection process for the scheme involves scrutiny of the application, site visits, and evaluation by
the selection committee.What Are The Evaluation Criteria For The Scheme?Ans: The evaluation criteria for the scheme include
innovation, market potential, social impact, sustainability, and financial viability of the project.Can An Applicant Modify The
Application After Submission?Ans: No, an applicant cannot modify the application after submission.What Are The Benefits Of The
Scheme?Ans: The benefits of the scheme include financial assistance, mentoring support, access to co-working spaces, and networking
opportunities.Is There Any Collateral Required For Availing The Financial Assistance?Ans: No, there is no collateral required for
availing the financial assistance.Is The Financial Assistance Provided As A Loan Or A Grant?Ans: The financial assistance is provided
as a grant and not as a loan.What Is The Repayment Period For The Financial Assistance?Ans: There is no repayment required for the
financial assistance provided under the scheme.Can A Beneficiary Of The Scheme Apply For Other Schemes Offered By The
Government?Ans: Yes, a beneficiary of the scheme can apply for other schemes offered by the government.Is There Any Deadline For
Submission Of The Application?Ans: No, there is no deadline for submission of the application.Can A Rejected Application Be Re-
Submitted?Ans: Yes, a rejected application can be re-submitted after incorporating the feedback provided by the selection committee.Is
The Scheme Applicable Only For New Start-Ups Or Can Existing Businesses Also Apply?Ans: Both new start-ups and existing
businesses with innovative ideas are eligible to apply for the scheme.Can A Non-Resident Indian (NRI) Apply For The Scheme?Ans:
No, NRIs are not eligible to apply for the scheme as it is meant only for residents of Gujarat.Sources And ReferencesGuidelinesStartup
GujaratWalkthrough Of The Registration ProcessGrievance RedressalFunding Support Available To Startups Under Scheme For
Assistance For Startups/ Innovation â€“ Gujarat Industrial Policy â€“ 2020OkWas this helpful?News and UpdatesNo new news and
updates availableShareYou need to before applying for schemesCancelIt seems you have already initiated your application earlier.To know more please visit
CancelApply NowGujaratScheme For Assistance For Start Ups/ InnovationEntrepreneurSkill
DevelopmentStartupSubsidyDetailsBenefitsEligibilityExclusionsApplication ProcessDocuments RequiredFrequently Asked
QuestionsThe key objective of the Gujarat Industrial policy 2020 is to encourage R&D and start innovation and entrepreneurship. Hence,
the new scheme is being introduced in order to support startups and innovation at different levels of the startup cycle. In view of the
strategy under Gujarat Industrial Policy, the Government is pleased to introduce a "Scheme for Assistance for Startups / Innovation"
which will come into force from 07/08/2020 and will remain in operation for a period of 5 years, i.e. upto 06.08.2025. ï»¿The scheme
aims to give a further thrust to promoting startups and strengthening the ecosystem in the state, a task force comprised of leading
stakeholders in the Gujarat startup ecosystem. Gujarat, owing to its inherent strength of widespread entrepreneurial spirit has gained a
significant spot in the national startup ecosystem. The incentives to Startups under the Gujarat Industrial Policy 2015 have supported in
the creation of a strong network of nodal institutions and several startups have expanded their operations/ products both at the national
and international levels.OkWas this helpful?ShareNews and UpdatesNo new news and updates availableÂ©2024Powered byDigital
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24303714Last Updated On : 28/03/2024 | v-2.1.1