Asserting that his government is committed to make Delhi a global start-up hub, Chief Minister Arvind Kejriwal on Wednesday said they were at an advanced stage of rolling out a new start-up policy to provide a range of provisions to promote start-ups in the city. Kejriwal, who addressed the ongoing TiE Global Summit 2020 (virtual) on ‘Making Delhi a Global Start-Up Destination,’said the city has already taken a leadership position in the country as a destination for start-ups. Citing a 2019 report, he said there are over 7,000 start- ups from the Delhi-NCR (National Capital Region) region, which makes Delhi the region with the highest number of active start-ups in the country.
The region has also produced about 13 unicorns like Oyo, he said. The report also stated that Delhi-NCR is set to become one of the top five global start-up hubs with 12,000 start-ups and 30 unicorns, he said. But “it is not a given” and, therefore, the Delhi government is committed to taking all necessary actions to ensure that the city becomes a preferred destination for start-ups globally, he said. Provision of world class infrastructure like roads, public transport, power and water supply, education, besides services for start-ups and businesses in the city was also a commitment, he said. Kejriwal highlighted the ‘massive progress’ achieved in the power sector and others in the last five years He said the Delhi government was also setting up a hi- tech business park in 150 acres of land. “We understand that start-ups face unique challenges and therefore the Delhi government is at a very advanced stage of rolling out a new start-up policy. This will lay out a range of provisions to encourage and facilitate start-ups in Delhi,” Kejriwal said.
To help the start-ups grow, a range of networks will be formed with incubators, co-working spaces, fabrication labs and the networks would leverage the provisions of existing stakeholders in the market, he said. The government planned to provide collateral-free loans for start-ups in priority areas and also enable easy access to experts who can aid them with accounting, taxation, registration, legal help and others, he said. A dedicated helpline would also be set up to answer all start-up related queries and address grievances. Start-ups and individuals will be able to use the government of Delhi’s doorstep service to request a Chartered Accountant or a lawyer to help them in incorporating a company from their home or office, he said. “We are committed to taking as much as it takes to make Delhi a global start up hub,” he added.
