STARTUP VAN YATRA INDIA – ODISHA 2018 by TEAM SHADOW

STARTUP VAN YATRA INDIA – ODISHA – 2018  – It aims to educate people. It helps to become entrepreneurs and investors as a matter of fact.

STARTUP VAN YATRA INDIA – ODISHA – 2018 – TEAM SHADOW

In effect, it has great mission and vision too. The ultimate aim is making Odisha particularly one of the destinations for top startup hub in India.

OBJECTIVES (STARTUP VAN YATRA INDIA – ODISHA -2018 )

  • Develop a world class “Startup Hub” in Odisha by 2020 int the first place
  • Not only encouraging incubators but also including sector specific ones aligning with the State’s strengths and requirements.
  • Create equally important enabling environment and also supporting eco-system that facilitates at least 1,000 Startups in next five years in the state.
  • Moreover Create a strong institutional framework for effective implementation, monitoring and evaluation of this initiatives.

 Startup Ecosystem Development  STARTUP VAN YATRA INDIA – ODISHA -2018

The Government of Odisha has the authority to analyse. It recognizes the fact that the seeds of entrepreneurship and the instinctive ability to innovate must be nurtured through an enabling ecosystem.  such as:

  • Creation of world class physical infrastructure to support Start ups in the long run.
  • Promoting the culture of innovation through Academic Interventions significantly.
  • Institutionalizing the culture of entrepreneurship by providing training for the requisite Skills.

 

STARTUP VAN YATRA INDIA – ODISHA – 2018 – TEAM SHADOW

  • Monthly Allowance:
    • Monthly payment for the first three months is done directly to a recognized eligible startup entity on a monthly basis.
    • Where as,Three months on wards, payment may be released based on the utilization report.
    • The Startup online submits  to the Nodal agency within 15 days of completion of the first three months.
    • Startup entity shall submit a utilization report highlighting the utilization of the monthly allowance.
    • In the first three months and enclose/upload supporting documents and bills, where applicable.
    • Payment of the monthly allowance is do for a period of one year only.
    • Here Startup entity can avail this benefit immediately only once.
    • Startup entity shall submit a final utilization certificate highlighting utilization of the monthly allowance.
    • It is along with supporting documents and bills too within one month of the completion of 1 year.

 

  • Product Development and Marketing / Publicity Assistance:
    • Startup will have to submit a self-contained product development plan with justification online.
    • And the remaining 50% will be made to its register bank account upon utilization of the advance payment
    • It is on the basis of submission of utilization certificate along with bills as can be seen.
    • The Startup entity must submit utilization certificate along with bills for the advance payment within three months of receiving the grant.
    • These Startup entity must submit final utilization certificate along with bills for the entire amount within six months of release of grant.

 

  • Need based Assistance:
    • Startup entity too will have to submit a self-contained plan with justification.
    • Online for the need and the manner of utilization of the assistance.
    • Overall Subject to recognize startup may get direct payment in its register bank account.
    • The Startup entity must submit utilization certificate along with bills for all the expenses within three months of receiving the grant.

For Incubator

  • One-Time Capital Grant:
    • The approved aspiring/ existing incubator will submit online application.
    • It is For Monetary Grant to the Startup Secretariat and upload requisite documents for due diligence.
    • This grant is disbursing in a phased manner as per the budget/ utilization plan submitted by the incubator .And finally it approved by the Startup Council.
    • The grant is disbursing in proportion to the funds brought in by the approved incubator.
    • As mentioned in their budget plan and approved by the Startup Council too.

 

  • Reimbursement of Utility Expense:
    • One-time payment of utility expenses limiting to Rs. 1 lakh per year.
    • It is for a maximum period of 3 years.
    • The existing incubator can get in its register bank account.
    • The incubator must submit bills for the expenses.
    • while availing the grant and submit utilization certificate within 3 months of the release of the grant.

 

  • Performance capital grant
    • The incubator will get One-time payment  in its register bank account directly.
    • The incubator will submit a list of the successful incubates incubated at least for a period of three months.