Bhopal, April 1 (KNN) The Madhya Pradesh government is planning to remove the criteria of turnover and experience in tenders upto Rs 1 crore for startups under its upcoming Startup Policy for 2022.

Financial assistance of Rs 5 lakh will be provided to incubators, said MSME operator Vishesh Gadhpale who gave this information in presence of Anurag Jain, Secretary, DPIIT at a meeting organized at B-Nest Center in Bhopal Smart City on Thursday.

Jain emphasised on implementing Ease of Doing Business (EoDB) policy to promote the startup ecosystem in the state.

He suggested that instead of giving separate funds for power, rent or equipment purchase, startups should be provided with lump sum financial assistance at one go so that the start-ups don't have to go around looking for funds.

The DPIIT Secretary also encouraged on setting up of incubators so that when start-ups come up with innovative ideas, they should be provided all kinds of help.

He suggested the officials to create funds for start-ups with the industrialists of Madhya Pradesh and ask industrialists to adopt incubators and start-ups.

Principal Secretary Industrial Policy and Investment Promotion Department Sanjay Kumar Shukla, Commissioner Industries and Managing Director State Cooperative Marketing Federation P Narhari, Commissioner Urban Administration and Development Nikunj Srivastava, Director MSME Vishesh Garhpale, were present during the meeting. (KNN Bureau)