The Maharashtra Startup, Entrepreneurship and Innovation Policy 2025, developed by the Department of Skills, Employment, Entrepreneurship and Innovation (SEEID), will be implemented by the Maharashtra State Innovation Society (MSInS)
CM Fadnavis said that the policy is a key step towards making Maharashtra a global leader in innovation. File Pic
The Maharashtra cabinet on Tuesday approved a new policy to support startups and entrepreneurs across the state. The goal is to recognise 50,000 startups and help create 1.25 lakh (125,000) entrepreneurs over the next five years, making Maharashtra a leading hub for innovation in India, officials said, according to the PTI.
The Maharashtra Startup, Entrepreneurship and Innovation Policy 2025, developed by the Department of Skills, Employment, Entrepreneurship and Innovation (SEEID), will be implemented by the Maharashtra State Innovation Society (MSInS).
The policy aims to build an inclusive and strong startup ecosystem, supporting urban, rural, women-led, and youth-led businesses. It also targets cutting-edge sectors like AI, FinTech, MedTech, Deeptech, Cybersecurity, and Sustainability.
Maharashtra Chief Minister Devendra Fadnavis said that the policy is a key step towards making Maharashtra a global leader in innovation and helping it become a trillion-dollar economy, reported the PTI.
A major feature is the Chief Minister’s Maha-Fund – a Rs 500 crore fund to support 25,000 early-stage entrepreneurs selected from a pool of five lakh youth. These individuals will get mentorship, incubation, and financial aid after going through a three-stage selection process.
To boost infrastructure, the government will set up micro-incubators in ITIs, polytechnics, and colleges. Each region will also have an innovation and entrepreneurship hub focused on high-growth sectors.
The state will also create a 300-acre Maharashtra Innovation City to bring startups, corporates, universities, and the government together for research and collaboration.
Startups selected through Maharashtra Startup Week can work with government departments and may receive pilot project orders worth up to Rs 25 lakh.
The policy also offers financial support for patent filing, certifications, and participation in domestic and international exhibitions. Startups with confirmed work orders from public or trusted private clients can also apply for loan assistance.
To ensure coordination, a governing body led by the Chief Minister will oversee the policy’s rollout. Each state department will allocate 0.5 per cent of its budget to support innovation.
All programmes will be run by MSInS, the main body for startup and innovation efforts in the state.
Manisha Verma, Additional Chief Secretary of SEEID, said the policy was shaped by public feedback from startups, citizens, investors, and experts. The policy aims to simplify access to funding and mentorship and improve digital skills and entrepreneurship training, the PTI reported.
(with PTI inputs)
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