Chandigarh’s startup ecosystem is finally set to receive a major boost with the upcoming launch of the much-awaited Chandigarh Startup Policy. After a six-year delay, the policy is scheduled for release by the end of October, signalling a new chapter for innovation and entrepreneurship in the city. The initiative, approved by UT Administrator Gulab Chand Kataria on October 1st, aims to position Chandigarh as a dynamic hub for startups.

The policy offers a comprehensive framework designed to support entrepreneurs through financial aid, infrastructure, and mentorship. A dedicated seed fund of INR 10 crore will provide early-stage funding to promising startups, while interest-free loans and additional financial programs will help businesses overcome initial capital barriers.

To encourage collaboration and innovation, the policy will introduce modern incubators and co-working spaces with affordable rents, high-speed internet, and shared resources. These facilities are expected to foster a vibrant entrepreneurial community. Additionally, the policy recognizes the critical role of mentorship and plans to connect young entrepreneurs with experienced industry professionals to guide them through their journey.

Streamlining bureaucratic processes is another key element, with efforts to simplify the acquisition of registrations, licenses, and certifications. Startups will also receive assistance with environmental clearances and labour regulations, easing the administrative burden often faced by new businesses.

To further strengthen the ecosystem, the policy includes skill-building initiatives such as workshops, training programs, and hackathons focused on essential areas like business planning, marketing, and technology development.

Despite being home to 335 recognized startups under the Startup India initiative, Chandigarh has long lacked a local policy to fully support its entrepreneurial potential. This new policy is a response to the “Chandigarh 2030 and Beyond” vision, which emphasises the need for economic diversification, job creation, and the attraction of digital businesses.

Also Read | Chandigarh to come up with its own startup policy: Adviser Dharam Pal

While the policy represents a significant step forward, its success will depend on effective implementation. Transparency, ease of access to resources, and the creation of a strong network of mentors and investors will be critical to its long-term impact.

With the right support and execution, Chandigarh could soon emerge as one of India’s leading startup hubs, offering new opportunities for entrepreneurs and contributing to the city’s economic growth.

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