After being regarded as one of the most preferred states for tourism and cultural exploration, Rajasthan seems to be steering ahead with respect to providing a convenient ecosystem for startups. The state government has planned a massive large scale startup drive aimed at establishing India’s biggest startup hub.
With this initiative of the government, Rajasthan is going to beat places like Pune, Telangana and even Bengaluru which have been the hub for techies for a long time now. The plan encompasses all aspects ranging from free space, funding, connectivity, mentorship, and exposure.
The hub will reportedly accommodate 700 people and will be operational in 2 and a half months’ time. Known as the Bhamashah Techno Hub, although it won’t be as big as Hyderabad’s T-Hub, it will provide all the facilities for free. As per the reports, the IT and communication department has already put in place the evaluation benchmarks across categories like bronze, silver, gold, platinum, and signature.
For funding, the government has set aside INR 500 Crores and the department has created various options. To the startups requiring seed fund, a grant worth INR 2 Lakhs is provided while to those requiring money for expansion, the department provides interest-free loan and equity capital. To evaluate the proposals, an external jury has been appointed.
As far as the mentorship is concerned, the department has already issued an expression of interest to appoint mentors or the startup. 5 proposals have been received and the department is evaluating them. The department is looking for experienced organizations that are well versed in running incubators and mentorship programs.