Startup IT Promotion Cell to act as nodal agency for startups in Goa

Panaji, July 7 (KNN) A Startup IT Promotion Cell (SITPC) will be set up to register, recognise and certify startups in Goa, as per the latest amendments introduced in the state’s Startup Policy 2021 and IT Policy 2018.

The Cabinet granted the approval on Wednesday which allows to make necessary amendments to the IT Policy 2018 for reconstitution of the empowered committee and to broaden its purview to oversee the implementation of the Startup Policy 2021. 

SITPC will be the nodal agency to register, recognise and certify the startups.

The IT secretary will be its convener, while the director (IT) and CEO (SITPC) will certify the ventures. 

Startups with a minimum viable product can get a one-time grant of up to Rs 10 lakh. The funds for would be provisioned from the seed capital.

The promotion cell will have to report to the empowered committee (EC) which will oversee policy implementation and grant approvals for the disbursement of incentives.

The cell will process all the applications received under both the policies.

According to the cabinet note it will hold in-house startup and IT ecosystem programmes.

It will also invite industry experts and professionals including empanelled agencies for assisting the ventures in statutory matters regarding company formation, filings, accounting and taxes. (KNN Bureau)