SOURCE ; NEW18
Last Updated:January 16, 2025, 23:10 IST
The initiative aims to empower startups across Maharashtra with Rs 30 crore allocated to each regional division, underscoring commitment to fostering a vibrant startup ecosystem and spurring economic growth
Maharashtra CM Devendra Fadnavis announced plans for innovation cities across the state to serve as hubs for cutting-edge technology and entrepreneurship. (Image: News18)
Boosting Maharashtra’s potential to become India’s startup capital, the Small Industries Development Bank of India announced a Rs 200 crore fund to support innovation and entrepreneurship.
Unveiled on ‘National Startup Day’, the initiative aims to empower startups across Maharashtra with Rs 30 crore allocated to each regional division. The funding underscores the state’s commitment to fostering a vibrant startup ecosystem and spurring economic growth.
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“With 26,000 startups, including the highest number of women-led ventures, Maharashtra is not just a participant but a leader in India’s startup revolution,” said Chief Minister Devendra Fadnavis at an event organised by the Maharashtra State Innovation Society at the Jio World Centre in Bandra Kurla Complex (BKC) on Thursday.
Themed ‘Empowering innovation, elevating Maharashtra’, the event was attended by skill development minister Mangal Prabhat Lodha, Nykaa CEO Falguni Nayar, and Marico Ltd chairman Harsh Mariwala. More than 1,000 startups representing diverse industries like technology, agriculture, and services showcased the state’s dynamic entrepreneurial spirit.
Fadnavis announced plans for innovation cities across the state to serve as hubs for cutting-edge technology and entrepreneurship. He introduced a draft startup policy, encouraging entrepreneurs to contribute suggestions to make it a national benchmark.
Highlighting regional contributions, he noted Mumbai’s position as a funding powerhouse, Pune’s rise as a technology hub, and the rapid development of Tier 2 and 3 cities like Nashik, Nagpur, and Kolhapur into thriving startup centres.
“Universities and incubators have become the backbone of this vision, enabling rural youth to transition from job seekers to job creators,” he said.
The event spotlighted women entrepreneurs with the Nykaa CEO praising Maharashtra for creating a safe and empowering ecosystem. “The state leads in women-led startups, offering ample opportunities for growth,” Nayar said.
The chief minister further highlighted the state’s distinction in having the highest number of women directors in startups, reaffirming the government’s focus on inclusivity. Additionally, he stressed on the role of artificial intelligence (AI) in shaping the state’s startup future, urging entrepreneurs to leverage it to drive innovation and employment.
The funding marks a collaborative milestone in Maharashtra’s journey in becoming a global startup hub. Fadnavis also inaugurated the Digital Media Centre of Excellence at ITI Govandi and honoured winners of the ‘Punyashlok Ahilyadevi Holkar Startup Competition’.
“This is a mission to transform Maharashtra into a land of opportunities where startups thrive and innovation leads the way,” he said.
