Encouraged by the Center’s Start Up India initiative, several states are planning to come out with their own policies to promote budding entrepreneurs. States like Kerala, Tamil Nadu and Karnataka have rolled out their respective policies and more are likely to follow the suit.
To promote the ‘Startup India’ programmme, the Centre would work with the states on hub and spoke model, an official said. Under the hub and spoke model, the Centre may provide necessary support to states for setting up incubation centres, tinkering labs and research centers.
On January 16, Prime Minister Narendra Modi unveiled a slew of incentives to boost startup businesses, offering them a tax holiday and inspector raj-free regime for three years.
To encourage young entrepreneurs and innovation, government has also decided to bear the entire cost of facilitation for filing of patents, trademarks or designs.