'Our Govt Revived Spirit Of Innovation In Youth': PM Modi Launches MP's Start-Up Policy

Under the new MP start-up policy, new enterprises will get rent for the workplace and employees' salaries. 

Prime Minister Narendra Modi. (Source: File Photo)

New Delhi: Prime Minister Narendra Modi on Friday virtually launched the Madhya Pradesh government's new start-up policy, saying the BJP revived the spirit of innovation in the youth after it came to power in 2014.

While addressing the gathering at the start-up conclave, PM Modi said, "In 2014, there were only 300-400 startups but today after 8 years, we've 70,000 recognized startups, and we're 3rd largest ecosystem. These startups are not limited to only metro cities. Around 50% startups come under tier 2-3 cities," news agency ANI reported. 

Under the new MP start-up policy, new enterprises will get rent for the workplace and employees' salaries. 

Criticizing nepotism, policy paralysis, and scams for the delay in start-up ventures, PM Modi said, "After 2014, we revived the spirit of innovation in India's youth. We worked on different fronts & organized Hackathons. A sense of responsibility was increased."

Unfortunately around one decade was lost in nepotism, policy paralysis and scams. After 2014, we revived the spirit of innovation in India's youth. We worked on different fronts & organised Hackathons. A sense of responsibility was increased: PM Modi at MP's Start-up Conclave pic.twitter.com/UPil82WHds

— ANI (@ANI) May 13, 2022

Speaking about Atal Incubation Centre, PM Modi said, "They are working as a nursery for startups. Different platforms were created to engage the startups & Pvt sector. Tax exemption & other incentives are provided. Reforms were made in the Space sector."

MP Start-Up Policy 2022

According to the Madhya Pradesh government, the start-up policy is specially developed to strengthen and bring to reality the entrepreneurial ideas of the youth of the state. 

The new startup policy differs significantly from the old policy. The notion of an 'MP Startup Centre' is a significant addition to the MP Startup Policy 2022, according to P Narhari, Secretary, MSME Department, Madhya Pradesh Government.

Previously, the department only executed one policy, but this would now be implemented in combination with the MP Startup Centre, according to the Madhya Pradesh MSME Secretary.

"The startup centre will have a dedicated office, a head/mentor for every startup, and experts from the relevant field, who will help the startup community," he further said. 

(With ANI Inputs)