Prime Minister Narendra Modi on Friday launched the Madhya Pradesh government’s Start-up Policy 2022 and a start-up portal through video links in the presence of young entrepreneurs here.
Under the new policy, start-ups will receive subsidies for rent and employee salaries.
Modi spoke to a few entrepreneurs on the occasion about their start-ups and how they can benefit people.
In 2014, there were 300 to 400 start-ups in the country, but their number has increased in eight years and now there are 70,000 recognized start-ups, the Prime Minister said.
Chief Minister Shivraj Singh Chouhan also addressed the function in Indore.
Under the new policy, the state government will subsidize start-ups for workplace rent, salaries and product patents. There will also be a quota for start-ups in government procurement, an official said.
If a start-up works from a rental place, the rent will be Rs 5,000 per month. It will receive Rs 5,000 per month for salaries of up to 25 employees, the official added.
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