How is Gujarat's start-up ecosystem thriving with SSIP 2.0 Policy and i-Hub?
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Key Takeaways
Gandhinagar, Dec 21 (NationPress) Gujarat has firmly established itself as a premier center for entrepreneurship, achieving the top rank in the Startup Ranking for the fourth consecutive time.
Currently, there are approximately 16,700 startups functioning throughout the state, solidifying its status as the country's leading performer.
Encouraging the spirit of entrepreneurship, Chief Minister Bhupendra Patel remarked, "Start-ups empower the youth to launch their own ventures and create job opportunities for others. Gujarat has developed an ecosystem where initiatives such as 'WEStart' and the Student Startup and Innovation Policy (SSIP) uplift women entrepreneurs."
This remarkable achievement was not realized overnight; it required years of hard work and a conducive investment environment, alongside strategically formulated policies from both the Union and state governments to support aspiring entrepreneurs.
Under the leadership of Chief Minister Patel, the Gujarat government has laid the groundwork for innovation among the youth, unveiling the SSIP 2.0 policy which will span five years from 2022 to 2027.
This initiative provides students at all educational levels with the necessary guidance, motivation, and financial backing to foster their creativity and innovation.
A total of Rs 300 crore has been allocated for SSIP 2.0 over the five years, with an annual funding of Rs 60 crore.
The Gujarat Startup and Innovation Hub (i-Hub) has emerged as the cornerstone of the state's innovation landscape.
On December 5, 2023, Chief Minister Patel inaugurated the new cutting-edge campus of the i-Hub.
This facility stands as the largest dedicated space in the state for innovation and entrepreneurship, offering legal, financial, technical, and operational support through a streamlined system.
The i-Hub assists early-stage innovators and startups in transforming concepts into successful businesses.
Covering nearly 1.5 lakh square feet, the new i-Hub campus can host around 500 startups simultaneously.
Currently, i-Hub has directly supported approximately 620 startups.
Additionally, through the Startup Srujan Seed Support Scheme, over Rs 23 crore has been provided to 402 startups.
Startups nurtured at the i-Hub have generated around 1,400 skilled jobs across the state, with a combined market valuation nearing Rs 3,569 crore.
Through the i-Hub, startups have attracted more than Rs 416 crore in private investment from various venture funds.
Moreover, i-Hub has extended its influence to over 20 districts via a hub-and-spoke model, raising awareness about startups and innovation among more than four lakh youth.
Under the 'WEstart' program, measures have been implemented to encourage women's involvement in the startup arena.
Currently, over 196 women-led startups are receiving support, representing nearly 30 percent of all supported startups.
To further enhance the startup and innovation framework in the state, four new centers are set to be established in Vadodara, Surat, Rajkot, and Mehsana within the next year, following the i-Hub already operational in Ahmedabad.
This robust startup ecosystem will also significantly contribute to the vision of 'Aatmanirbhar Gujarat' and 'Aatmanirbhar Bharat'.