UNIVERSITY AND COLLEGE INCUBATORS | IKG PTU TO SET UP FUND FOR STARTUP | INCUBATION CENTRES BY OTHER GOVERNMENT ORGANIZATIONS | PRIVATE INCUBATORS AND ACCELERATORS | SETTING UP OF SECTOR SPECIFIC INCUBATORS | CREATION OF COMMON INFRASTRUCTURE AND CO-WORKING SPACES | SPECIAL FOCUS ON WOMEN ENTREPRENEURSHIP | SPECIAL FOCUS ON SC ENTREPRENEURSHIP
UNIVERSITY AND COLLEGE INCUBATORS
- The State will promote setting up of Incubation Centres in Universities and other Academic Institutions. These incubation centres play an important role in promoting entrepreneurial culture in students. It inculcates the concept of entrepreneurship in the mind of students in place of finding the jobs after completing their study. Besides the principles and practices of good business ownership which incubator programs provide, the student business owners alsoenjoy a creative, innovative, and engaging environment. The State will also put in the efforts to build strong academia industry linkages and networking through these incubation centres. The incubation facilities could also be made available to non-residents or non-students to bring greater benefits and learnings for all stakeholders. The students will be provided information and support regarding available State & Central schemes, incentives and grants.
IKG PTU TO SET UP FUND FOR STARTUP
- In order to help youth of the State and develop them into entrepreneurs, IKG Punjab Technical University in partnership with State Government will set up Startup Fund of Rs. 100 crores, which will be used for promoting incubation centres, seed money for Startups, scale up funding and other support to the Startup units. 25% funds will be dedicated to promote Startups by SC and Women entrepreneurs.
INCUBATION CENTRES BY OTHER GOVERNMENT ORGANIZATIONS
- There are a number of Incubation Centres set up by various Central and State Government organizations such as Biotech Incubator, STPI Incubation Centre. These incubation centres need to be promoted effectively and necessary linkages with the State Government programs and industry shall be provided.
PRIVATE INCUBATORS AND ACCELERATORS
- The State would also encourage private sector lead Incubation Centres and Accelerators and provide them necessary support. The State would frame a scheme to provide various fiscal and non-fiscal incentives to promote development of Incubation Centres in private sector.
SETTING UP OF SECTOR SPECIFIC INCUBATORS
In order to provide impetus to entrepreneurship in the focus sectors for development, the State would encourage setting up of sector specific incubators such as Digital manufacturing, Lifesciences & Biotechnology, Agro & Food Processing and Information Technology. These incubators will be set up in and around the existing and envisaged industry clusters in the State.
CREATION OF COMMON INFRASTRUCTURE AND CO-WORKING SPACES
- The State would facilitate creation of adequate support infrastructure for boosting innovation ecosystem. Such infrastructure would be created across different sectors in all districts in Punjab and would comprise of components such as:
- Ready-to-use office spaces
- R&D and testing labs
- Software and hardware solutions
- Services such as legal, accounting, HR, IPR, etc.
- Facilities such as internet connectivity, electricity, water, security, etc.
SPECIAL FOCUS ON WOMEN ENTREPRENEURSHIP
- Women entrepreneurs constitute a small percentage of overall entrepreneurs. Women entrepreneurs need to be encouraged for significant social and economic development and inclusive growth. The State would identify specific challenges women entrepreneurs face in formal and informal sectors of economy including rural and urban areas and create facilitative environment for women entrepreneurs to contribute to economic development.
- The State would encourage women entrepreneurs, create awareness among women entrepreneurs on various State & Centrally sponsored schemes. The State would also handhold women who have business ideas and are interested to start their business ventures. The State will provide specific schemes to promote Women entrepreneurship.
SPECIAL FOCUS ON SC ENTREPRENEURSHIP
- For growth and prosperity to be truly inclusive, all sections of the society need to partake in this prosperity. Besides wage employment and education, the marginalized sections of the society also need to envision, create and scale-up ventures to be a major participant in this growth story. There is a need to substantially increase SC entrepreneurs and number of SC owned enterprises to enable the socio-economic empowerment of the SC communities.
- The state would encourage SC entrepreneurs, create awareness among SC entrepreneurs on various State & Centrally sponsored schemes and provide handholding support to them. The state will dovetail Standup India program with State specific schemes to promote entrepreneurship amongst SC youth.