Incentives for Punjab-Based Startups
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Good opportunity for Punjab Businessmen,
If you want to start-ups in Punjab
Then avail the benefit of Incentives for Punjab-Based Start-ups under “Punjab Industrial & Business Development Policy, 2022”.
Punjab Government have the mission –
- To accelerate growth of Startups and promoting entrepreneurship by nurturing innovation, improving competitiveness and enhancing capability.
- To attract maximum investment and create maximum employment in 5 years.
Punjab is ranked as leader category in the start-up ranking framework in the year 2022.
Innovation and Entrepreneurship are crucial for future growth of State’s economy. Punjab Government would support start-ups to build & strengthen them.
Financial Assistance/Subsidy/Benefits Available to Punjab - Based Start-Ups
- Interest Subsidy @ 8% p.a. for a period of 5 years (Max. 5 Lacs p.a.)
- On Interest paid on loans from banks/financial institutions.
Note : No separate interest subsidy as MSME will be provided.
- Lease Rental Subsidy @ 25% for a period of 1 year (Max. 3 Lacs p.a.).
- Seed-Funding – Seed Grant would be available @ Rs. 3 Lacs per start-up for validation of idea, assistance towards travelling costs & carrying out field/ market research/ skill training, etc.
- Reimbursement of Stamp Duty –
- 100% reimbursement.
- On Registration of MoA/AoA.
- Scale-Up Funding
- In the form of venture capital.
- By connecting Punjab-Based Start-ups to Punjab Innovation Fund.
- With a dedicated fund of Rs. 150 Crores.
Start-Up Unit - Definition :
- Registered/Incorporated as Partnership Firm/Limited Liability Partnership/Pvt. Ltd. Company.
- Considered as start-up for a period of 10 years from the date of incorporation/registration.
- Turnover of the entity should not have exceeded 100 Crores for any F.Y. since incorporation/registration.
- Entities working in field of innovation, development/improvement of products/processes/services.
- Entities having high potential of employment generation/wealth creation.
- Entity must have operations in the state of Punjab.
Period of Applicability of Scheme :
The Policy will be applicable for period of 5 years with effect from 17th October, 2022.
If you are planning to work towards innovation, development/improvement of products/services & want to avail subsidy benefits. Then, register as a start-up in Punjab & avail various benefits as discussed above. So, plan accordingly.
To know it in detail, fix a Free Appointment :- https://forms.gle/RQicNC67oPsiVRe79
Contact us at– 8683898080.
Visit our office:- KIP Financial Consultancy Pvt. Ltd.
DSB – 38, Red Square Market, Hisar – 125001 (HR)
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