Rajasthan Government in its 2021-22 budget unveiled plans for promoting the promising startups in the state. To provide assistance for startups at the idea/prototype stage, the Rajasthan Government has announced seed money up to Rs. 25 lakh in addition to the Rajasthan Startup Policy 2015. CM Ashok Gehlot said that the i-Start program will continue giving all the benefits mentioned in the State Startup Policy.
In the budget speech Rajasthan CM Ashok Gehlot said, “To accelerate the growth of entrepreneurship in the state and promote the talent of youth, the Government is already providing the best support. Currently, the i-Start program is successfully supporting the urban cities. Rural Rajasthan’s young ones have already proven the strong willpower and unmatched capabilities of innovation. They will get benefited from Rural i-Start that is proposed to be rolled out in the coming FY.”
There is a huge business opportunity for Startups with Rajasthan Government’s various departments. To support startups, Rajasthan Government’s departments will be giving work orders up to Rs. 15 lakh without tendering process, to the registered startups.
Notably, during last year over Rs. 200 Cr funding was raised by promising startups of the state. Some of them were DealShare (147 Cr), Fleece (25 Cr), Freshokartz (10 Cr), Kirana King (7 Cr), Med Cords (7 Cr), Krimanshi Feeds (5 Cr), Fabriclore (4 Cr). The major investors in these startups were Alpha Wave Incubation, Falcon Edge Capital, Z3 Partners, Matrix Partners India, Omnidyar Network India, Bridgestone India, Rajasthan Venture Capital Fund (RVCF), and more.
About iStart Nest
iStart Nest, the Government of Rajasthan’s incubation center is the only centralised incubator in the country providing free incubation to emerging startups. The incubation program is designed to help startups gain traction through deep mentor engagement, rapid iteration cycles, and fundraising preparation. iStart Nest offers state-of-the-art facilities at its incubation center with a wide range of resources and mentoring from industry tycoons. iStart Nest works with an extensive network of investors, accelerators, and mentors to help entrepreneurs launch and grow the innovative companies that are building Rajasthan’s future. https://istart.rajasthan.gov.in/incubation-nest