Maharashtra clears Rs5,000 crore investment in start-up sector

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The Maharashtra state cabinet on Wednesday approved a Maharashtra State Innovation and Start-Up Policy, targeting an investment of Rs5,000 crore in the start-up space by 2022 and creating 500,000 direct and indirect jobs. The policy aims to help establish 10,000 start-ups in five years.

An industry department official said the policy targets setting of at least 15 incubation centres for start-ups in the state. “Eventually, we plan to scale it up to around 35 incubation centres, which in effect means one for each district,” the official said, requesting anonymity. He said the policy aims to develop an enabling ecosystem for the start-up industry.