TS govt invites applications from startups for incentives
Telangana government on Thursday invited applications from the state-based startups for next batch of incentives under four categories - Performance grant, Reimbursement of Patent expenditure
Startups need to focus on profitability to solve unemployment hurdle
Hyderabad: Telangana government on Thursday invited applications from the state-based startups for next batch of incentives under four categories - Performance grant, Reimbursement of Patent expenditure, SGST reimbursement and Recruitment assistance.
In previous batch, out of 67 applications received from 32 startups under four categories, the government has sanctioned 17 applications to 11 startups. Somesh Kumar, Chief Secretary, Government of Telangana, along with Jayesh Ranjan, IT Secretary, handed over the incentives under innovation policy to 11 startups which have qualified the eligibility criteria and necessary documentary evidence.
Chief Innovation Officer of TSIC, and Chief Executive Officer of T-Hub, Ravi Narayan, said: "Telangana is a startup state and we have moved further in helping startups in a sector-specific manner. This is an outcome of not just providing the mentorship, and facilitating connections to investors, but we are now in the stage of providing the funding support under state incentives. Going forward, we hope to have many other financial and monetary benefits rolled out that can be availed by the startups, for which I call out all the eligible startups to apply for the next batch of incentives to leverage the support being extended."
