The Gujarat government on 4 November 2026 launched a ₹10-crore 'Growth Fund' to accelerate technology-based start-ups, offering grants of up to ₹30 lakh to early-stage ventures and equity-linked convertible funding of up to ₹2 crore per start-up at advanced stages of development. The fund was unveiled at the Gujarat Innovation and Technopreneurship (GInTech) Conclave 2026 in Gandhinagar.

How the Fund Works

The scheme is structured around Technology Readiness Levels (TRL), a standardised metric for gauging innovation maturity. Start-ups at TRL-4 or below can access grants of up to ₹30 lakh to fund proof of concept, technology validation, trials, and related development activities.

Those at TRL-5 and above — indicating a more mature innovation — qualify for equity-linked convertible funding of up to ₹2 crore per venture. This higher tranche is designed to support pilot manufacturing, technology demonstration, strategic pivoting, and market-oriented development.

What the Minister Said

Science and Technology Minister Arjun Modhwadia, who launched the fund, said the state had introduced specific policies to guide young entrepreneurs from the conceptual stage all the way to production. 'The new scheme would provide technology-based start-ups with financial support to take innovations from laboratories to the market,' he said at the conclave.

Modhwadia noted a generational shift in aspiration among young people, who are increasingly opting to build businesses and create employment rather than pursue government or corporate positions. He also highlighted Gujarat's standing on the national start-up platform and urged stakeholders to leverage government policies, scientific infrastructure, and technology-focused platforms, adding that strategic global partnerships could accelerate the sector's growth.

Gujarat's Start-Up Footprint

Addressing the conclave, Modhwadia cited national data showing approximately 2.6 lakh start-ups registered across India, with Gujarat accounting for an estimated 18,000 to 20,000 active ventures. The state's share underscores its emergence as one of India's more active start-up hubs outside the traditional clusters of Bengaluru and Delhi-NCR.

The Savli Technology and Business Incubator (STBI), which organised the conclave, also announced the establishment of eight regional Innovation Cells spread across six zones of Gujarat — a move aimed at decentralising start-up support beyond the state capital.

Other Initiatives Announced

The conclave saw the launch of a cohort-based acceleration platform, an 'Atmanirbhar Gujarat Fellows' programme, and measures to promote shadow internships. STBI also signed memorandums of understanding (MoUs) with nationally recognised accelerator agencies to strengthen Gujarat's start-up support network.

STBI Director Dr Anand Bhadalkar and representatives from the start-up ecosystem, industry, investment firms, incubators, accelerators, and allied institutions were present at the event. The conclave signals Gujarat's intent to institutionalise innovation support well beyond one-off policy announcements.