In an effort to promote and nurture entrepreneurship, the Industries Department of the Delhi government has recently finalized a draft of its startup policy, with the ambitious target of backing and facilitating 15,000 startups by 2030.
According to a report from TOI, the policy encompasses provisions for collateral-free loans, expert guidance, and assistance for college students.
By the year 2030, the Delhi Startup Policy aims to position the city as a leading global innovation hub and the preferred destination for startups.
The goal is to create a nurturing ecosystem that fosters innovation-led economic expansion and encourages entrepreneurship with strong support systems in place. Furthermore, Delhi Chief Minister Arvind Kejriwal emphasized that the Delhi Startup Policy not only provides financial aid but also delivers a comprehensive array of resources and assistance to entrepreneurs.
The research team at The Dialogue and Development Commission (DDC) of Delhi initiated a thorough process of conducting in-person, one-on-one meetings with startup founders in the NCR region. This was aimed at gaining a deeper understanding of the hurdles they have encountered in their entrepreneurial journeys, the potential impact of policy interventions in fostering entrepreneurship in the area, and the existing benefits that Delhi provides to startups.
The department has additionally submitted a report outlining the actions taken and is currently in the stages of refining a proposal for the Dilli Bazar portal, a digital platform designed to establish connections with customers on both a national and global scale. The department also intends to develop Shahdara as part of the ‘One District One Product – District as Export Hubs’ initiative. In its initial rollout, the portal will showcase 10,000 vendors.
The Delhi government’s objective is to bring over 100,000 city shops onto the Dilli Bazaar portal within a span of six months, creating a 24/7 digital marketplace. The government seeks to provide a distinctive virtual experience that enables users to explore the diverse markets in Delhi.
In 2022, Arvind Kejriwal, the Chief Minister of the National Capital Territory of Delhi, unveiled the Delhi Startup Policy on X. The policy encompasses a series of initiatives designed to streamline entrepreneurship in the nation’s capital and to position Delhi as India’s premier hub for startups.
At the time, Kejriwal said, “We have implemented numerous measures to cultivate a business-friendly environment in Delhi NCR. We have introduced several provisions to foster entrepreneurship in the capital.”