Sawant-led meet clears incentives for nine startups | Goa News – Times of India

Panaji: Chief minister Pramod Sawant chaired a meeting of the Startup Promotion Cell’s high powered committee on Thursday where long-delayed incentives for startups were cleared. The Startup Promotion Cell took up 12 applications from startups and cleared incentives for nine startups.
Sawant said that all the startups are headed by Goans or have been co-founded with a Goan partner.
“There were around 12 startups of which only about two or three were deferred and all the other proposals were cleared. They will get the money in three instalments of 40%, 30% and 30%,” said Sawant while speaking to reporters after the meeting.
Many of the certified startups, which sought financial assistance from the state, have been waiting for over 14 months for what was promised. Startups that were certified by the Start-up Promotion Cell (SPC) with valid start-up certificate numbers have begun to scale down operations. At a time when the Covid-19 pandemic has hurt startups, the delay in disbursement has added to their woes.
“The startup cell committee has recommended to release the first instalment, which will be done. Almost all are Goans except in one case where the promoter has tied up with a local Goan. At least four of them are women entrepreneurs in the pharmacy and IT field,” said Sawant.
Since the launch of the Goa Startup Policy – 2017, the state government has repeatedly promised to make Goa one of the top 25 startup destinations in Asia.
The department of Information and technology has certified at least 110 startups, however, disbursal of funds to these startups has been slow. The state high powered committee was scheduled to meet in May, but the meeting was cancelled due to the second Covid-19 wave.


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