Unlocking Opportunities: A Comprehensive Guide to Haryana's Entrepreneur & Startup Policy

Introduction: Haryana, a state in northern India, has been actively stregthening a conducive ecosystem for entrepreneurship and startups through its comprehensive Entrepreneur & Startup Policy. Aimed at catalyzing innovation, development, and economic growth, the policy provides a myriad of incentives for startups, incubators, investors, and institutions.

Policy Highlights:

Key Sectors and Nodal Agency: Construction and Engineering stand out as key sectors, with the Department of Information Technology Electronics & Communication serving as the nodal agency.

For Startups:

1. Lease Rental Subsidy: Fiscal Benefit: Reimbursement of 30% lease rental subsidy for general startups and 45% for women-led startups for a year, capped at INR 5 lakh per annum. Eligibility: Startups registered in Haryana, with turnover not exceeding INR 25 crore, working towards innovation and employing at least 50% of their workforce in the state.
2. Patent Cost Reimbursement:Fiscal Benefit: 100% reimbursement of actual patent-related expenses, with a maximum cap of INR 25 lakh. Eligibility: Similar to Lease Rental Subsidy, with a focus on innovation and development.
3. Assistance for Program/App Development:Fiscal Benefit: Support of up to INR 2.5 lakh for national and INR 5 lakh for international acceleration programs.Eligibility: Criteria mirror those for Lease Rental Subsidy and Patent Cost Reimbursement.
4. Seed Grant:Fiscal Benefit: Seed grant of up to INR 10 lakh for idea validation, prototype development, and other initial activities.Eligibility: Similar to previous benefits, with routing through Startup Haryana.
5. Self CertificationNon-Fiscal Benefit: Startups exempted from inspections under various acts and rules, promoting a self-certification culture.
6. Preferential Procurement:Non-Fiscal Benefit: Encourages startup participation in government procurements by exempting tender fees, EMD, and offering concessions.
7. Annual Hackathon Competition:Fiscal Benefit: Participation in the Smart India Hackathon, rewarding innovative solutions for societal challenges.
8. SGST Reimbursement:Fiscal Benefit: 50% net SGST reimbursement for 7 years, capped at 100% FCI.
9. Reimbursement on Rental Charge:Fiscal Benefit: 50% exemption on incubator lease rent and operation charges for 3 years, up to INR 5 lakh per annum.
10. Reimbursement for Cloud Storage:Fiscal Benefit: 75% reimbursement for cloud computing/storage expenses, up to INR 2.5 lakh per startup per annum for 5 years.
11. Assistance in Acceleration Programs:Fiscal Benefit: Similar to support for program/app development.

For Incubators:

1. Recurring Expense Reimbursement:Fiscal Benefit: 50% exemption on incubator lease rent and operation charges for 3 years, up to INR 5 lakh per annum.
2. Stamp Duty & Registration Exemption:Fiscal Benefit: 100% stamp duty and registration exemption for incubators purchasing/leasing land or office space.
3. Mentoring Assistance:Fiscal Benefit: Up to INR 2.5 lakh per incubator annually for mentoring assistance.
4. Assistance in Participation of Fair/Exhibition:Fiscal Benefit: Financial assistance for industry associations/incubators leading startup delegations to national/international events.
5. Capital Subsidy:Fiscal Benefit: Capital grant of 50% of investment, subject to caps, for setting up incubators.

For Investors:

1. Fund of Funds:Fiscal Benefit: Creation of a INR 100 crore fund for category I funding, managed by SIDBI.

For Institutions:

1. Incubator Setup Grant:Fiscal Benefit: Capital grant of 50% of investment for setting up incubators in government and private institutes.
2. Startup Competition Assistance:Fiscal Benefit: Support for eligible institutes to organize startup fests, up to INR 20 lakh per event.
3. New Incubation Centres:Fiscal Benefit: Financial assistance for creating and upgrading incubation centers in government institutions.
4. New Mobile Application Development Centre:Fiscal Benefit: Financial support for establishing mobile app development centers.
5. New Startup Warehouse / Innovation Campus:Fiscal Benefit: Financial support for creating IT startup warehouses.

Conclusion: Haryana's Entrepreneur & Startup Policy provides a robust framework to nurture innovation and entrepreneurial spirit. By offering a range of fiscal and non-fiscal benefits, the state aims to position itself as a hub for startups, incubators, investors, and institutions, fostering economic growth and job creation.

Disclaimer: This article provides general information about the startup and innovation initiatives in Haryana. While efforts have been made to ensure accuracy, readers are advised to independently verify details. The content is not professional advice, and readers should seek appropriate counsel before making decisions. Government policies may change, and readers should refer to official sources for the latest information. The author is not responsible for errors or actions taken based on this information. For comprehensive details, readers are encouraged to contact relevant authorities directly. Use of this information is at the reader's own risk.