Scheme Name: Scheme for providing incentives to Start-ups

State: Punjab

Description of the Scheme:

Target group :

Sector of the Scheme:

Eligibility Criteria:

Nature & Mode of Assistance: All the benefits available to MSMEs shall also be available to start-ups. In addition, following additional incentives shall also be available to start-up enterprises:
(i) Interest Subsidy
Eligible startups shall be provided interest subsidy of 8% per annum for a period of 5 years on rate of interest paid on loans obtained from scheduled banks/financial institutions subject to maximum limit of Rs.5 lakh per annum. No separate interest subsidy as MSME will be provided.
(ii) Lease rental subsidy
Reimbursement of 25% of lease rental subsidy to eligible startup units, operating from Incubators/IT Parks/ Industrial Clusters or any other notified location shall be eligible for a period of 1 year subject to ceiling of Rs.3 lakh per annum.
(iii) Seed Funding
Seed grant up to Rs.3 lakh per start-up shall be provided for validation of idea, prototype development, assistance towards travelling costs and carrying out field/market research/skill training/marketing and initial activities to setup a startup, etc. Seed funding to startups would be routed through State/Centre recognised Incubators or Nodal Agencies.

"Financial Information (Subsidy, low interest rate, etc.)":

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply:

Whom to Contact: General Manager, District Industries Centre