New Delhi, Oct 1 (KNN) Madhya Pradesh will be the new destination for start-ups in the country, said Shivraj Singh Chouhan, Chief Minister of Madhya Pradesh.

Expressing his views while addressing the young entrepreneurs at Start-up Conclave, Chouhan said that youth of Madhya Pradesh will be provided loan up to Rs 10 lakh without interest and seed capital for startups.

He said that the Innovation Council for the state will be formed and startups will be provided better environment and facilities.

“Madhya Pradesh will become an Entrepreneur Network”, Minister added.

Changing the policy, arrangements will be made for government purchase through start-ups up to Rs 30 lakh without tender, said Chouhan.

He further added that startups will be encouraged to provide better opportunities to every youth in the state to fulfill his dream.

Adding to the statement, Minister said that incubation centres are being made in all seven smart cities of the state and all the necessary facilities will be provided to youth to launch startups.

Further to support innovation and startups, incubation centres on PPP model will be started in selected colleges, Chouhan added.

Speaking at the conclave, he told the youth that venture capital fund has been made for innovative ideas in the state and Mukhya Mantri Yuva Udyami Yojana will also be linked to this.

The Chief Minister said that there are huge possibilities for startups in the fields like agriculture, tourism and transport in the state.

He further claimed that the industrial corridor will be built near three new Express Highways of the State including Indore-Bhopal, Chambal Expressway and Narmada Express Highway.

Chief Secretary B P Singh said that Madhya Pradesh is ahead of Karnataka, Maharashtra, Tamil Nadu, Punjab in Ease of Doing Business.

Rs 7,051 crore has been provided to micro, small and medium industries in last 5 years in the state. There are 346 start-ups in the State. A Venture Fund of Rs 100 crore has been made in the state for start-ups, he added.

Speaking on the occasion, NITI Aayog, Chief Executive, Amitabh Kant said “The Centre had formed start-up policy in January 2016 following which several start-ups came up in one-and-a half years. Madhya Pradesh took the initiative by forming start-up policy in 2016. Ecosystem created in Indore for start-ups is commendable.”

Chouhan interacted with participants of Bhopal, Indore, Gwalior, Ujjain and Sagar through video-conferencing and encouraged them to fulfill their dreams.

In a warm discussion with CM Chouhan, participants informed him about expectation, schemes and needs related to start-ups and gave their suggestions.

Chouhan said that they must present new ideas at the incubation centre and they will be provided assistance, facilities and advice by experts at various phases affiliated with establishment of start-up.

The Chief Minister also appealed successful start-up entrepreneurs to help new start-ups and take initiatives like Venture Fund.