Prime Minister Narendra Modi on Friday launched the Madhya Pradesh government's Start-Up Policy 2022 and a start-up portal through video link in the presence of young entrepreneurs.
Under the new policy, start-ups would get subsidies towards the rent and salaries of employees.
Modi also interacted with a few entrepreneurs on this occasion to learn about their start-ups and advised them about how they could benefit people. In 2014, there were 300 to 400 start-ups in the country, but in eight years their number rose and now there are 70,000 recognised start-ups, the prime minister said.
Chief Minister Shivraj Singh Chouhan also spoke at the function in Indore. Under the new policy, the state government will give subsidies to start-ups towards rent for the workplace, salaries, and product patents. There will also be a quota for start-ups in government purchases, an official said.
If a start-up is working from a rented place, Rs 5,000 per month will be paid for rent. It will also get Rs 5,000 per month per head for a salary of up to 25 employees, the official added.
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