To encourage Women to launch their own start-ups, the new policy provides special incentives to women entrepreneurs.
Tech bodies have been pushing the government to roll out the new policy ever since the existing policy lapsed in 2020.
TheGoa Startup Policy2017 lapsed in September 2020 and was given two six-month extensions as the government dragged its feet in rolling out the revamped policy. The Goa Startup Promotion Cell (SPC) began work on the new policy in the first half of 2020 by taking the learnings from the then prevailing startup policy and inputs from startups.
For the new startup policy a single round of discussions with local startups and startup ecosystem stakeholders was held, while inputs were also sought from the Centres department for promotion of and of industry and internal trade (DPIIT). Discussions between local stakeholders and the IT minister Jennifer Monserrate and chief minister Pramod Sawant, though scheduled often, were cancelled repeatedly.
The new policy aims at evangelising creation of at least 500 innovative, technology enabled products and building sustainable Services and solutions start-ups in Goa by providing requisite assistance and support in the next three years, targeting generation of EMPLOYMENT for at least 6,000 Goans.
The start-up policy also aims at developing technology and innovation hubs, centres of excellence, research and development labs and incubation centres in the next three years.
The revised policy also states that for start-ups hiring local talent, 50% salary of the freshers will be reimbursed subject to a cap of Rs 15,000 per month per recruit. Earlier, the limit was Rs 10,000.