Startup Manipur

DETAILS The Government of Manipur has initiated the 'Startup Manipur' program with the objective of promoting sustainable economic growth and generating significant employment opportunities in the state. Under the Manipur Startup Policy 2018, several incubation centers have been established by the state government to promote the growth of a minimum of 1,000 technology-based innovative startups throughout the state by August 14, 2022. The goal of the program is to empower the youth of Manipur to become job creators by fostering entrepreneurship and innovation culture and providing a supportive ecosystem to nurture and develop startups, making Manipur a leading startup destination in the North East. The government is working to enhance the enabling environment to meet the aspirations of young entrepreneurs and intends to collaborate with all stakeholders to establish a robust startup ecosystem through appropriate incubation and mentoring infrastructure, expedited statutory support, and a network of suitable funding mechanisms. BENEFITS The state government aims to support and strengthen existing business incubators and accelerators to create a robust support system for startups. The government intends to encourage and inspire the youth of Manipur to explore entrepreneurship as a viable career choice. To strengthen the startup culture in the state, the government will foster greater social acceptance and recognition of promising startups. The government is looking to encourage the establishment of new business incubators in the state through partnerships with the private sector. The government will continuously provide enabling mechanisms to startups, including training and skill development, capacity building, networking opportunities, and access to support services and knowledge. The government will implement a supportive regulatory framework that enables hassle-free and time-bound statutory clearances for startups. The government will provide appropriate infrastructural support to enable startups to set up and grow rapidly. The government will create a platform to access multiple avenues of financial support for startups in Manipur, such as grants, bank loans, and fiscal incentives. Finally, the government aims to create an enabling environment and a supportive ecosystem to facilitate 1000 startups in the state within the next five years. ELIGIBILITY The entity/startup must be promoted by individuals who have domicile in Manipur. If a group of individuals is promoting the entity/startup, at least one promoter should have domicile in Manipur. The owner of the entity/startup must be above 18 years of age. Completion of incubation will be a mandatory requirement from a date to be notified by the State government. Exclusions Non-Manipur residents are not eligible to promote an entity/startup under the Manipur Startup initiative. The promoters of the entity/startup must have a domicile of Manipur. The owner of the entity/startup must be above 18 years of age, and those below this age are not eligible. Completion of incubation is a required condition for startups, and any entity/startup that has not completed incubation by the date notified by the state government will not be eligible for support under this initiative.