MAHARASHTRA - Startup India
STATES’ STARTUP RANKING 2019MAHARASHTRALEADER
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Table ofContents1. Overview of State Startup Ecosystem.052. Snapshot of State Performance.073. Pillar Wise Assessment.083.1. Institutional Support.083.2. Simplifying Regulations.113.3. Easing Public Procurement.133.4. Incubation Support.153.5. Seed Funding Support.183.6. Venture Funding Support.193.7. Awareness and Outreach.20
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01OVERVIEW OF STATESTARTUP ECOSYSTEMThe spirit of entrepreneurship has gained considerable traction in the state of Maharashtra afterthe state government launched its startup policy in 2018 named ‘The Maharashtra State InnovativeStartup Policy (hereinafter mentioned as ‘the policy’). This initiative towards establishment of a robuststartup ecosystem through the defined policy aims to drive economic growth and job creation byencouraging entrepreneurs to design novel solutions in new age sectors such as biotechnology,artificial intelligence, internet of things, clean energy etc. Additionally, the initiative aims to revamptraditional sectors by the year 2023Overall, the state has a comprehensive ecosystem for startups that focuses on focused on the fintechsector, the ecosystem in Maharashtra aims at robust incubation and a seed funding mechanism.The state has witnessed a paradigm shift from being a uniquely metropolitan phenomenon havinggrabbed the opportunity to get incubated to succeed in their journey from idea to enterprise.KEY OBJECTIVES OF THE STARTUP POLICY LAUNCHED BY THE STATE’S SKILLDEVELOPMENT & ENTREPRENEURSHIP DEPARTMENT (SDED) ARE:The startup policy aims to achieve the following objectivesTo provide a platform andnurture entrepreneurialaspirations amongst thecitizens of MaharashtraTo empower startups tocontribute significantlyto the state’s economicgrowth and createemployment opportunitiesfor all sections of societyTo develop robustinfrastructure and ease theregulatory framework tospur development of thestartup ecosystem5Years5 YEARS(2018 – 2023)INR 5,000CRORES15INCUBATORSMAHARASHTRA LEADER10,000STARTUPS500,000OPPORTUNITIES5
Lighten regulatory complianceLE-connect the ecosystemEAugment infrastructureAPartner with industryPThe policyhas uniquelyencoded‘LEAPFROG’tenetsFFunding startupsRRealising human potentialOOrganise competitions and eventsGGovernanceSOME OF THE KEY HIGHLIGHTS OF THE LEAPFROG ARELESSEN REGULATORY COMPLIANCEFor recognised incubators that wish to rentspace/ property, 100% of stamp duty andregistration fee may be compensated forthe first three years and 50% for the secondtranche. The state government may takeup to 80% of quality testing costs incurredby startups BIS accredited facilities.E-CONNECT THE ECOSYSTEMThe state will set up LEAPFROG Maharashtrato create a single point of contact for theentire ecosystem. The state will also launcha mobile app to assist startups thoughtheir life cycle.AUGMENT INFRASTRUCTUREDevelopment of virtual as well as physicalincubators on a public private partnershipmodel. The incubators will be incorporatedas special purpose vehicles. The state willsupport social sector startups that helpsolve social issues in the state.PARTNER WITH INDUSTRYTie-up with leading angel investor networksand organise learning workshops to guideaspiring investors and other high net worthindividuals (HNIs) on investing in startups.FUNDING STARTUPSEstablishing a fund of funds with an initialcorpus of INR 100 crore and a total corpusof INR 500 crore over a period of four years.The state shall provide financial supportto social sector and social sector startupsmay receive grants of up to INR 5 lakhREALISING HUMAN CAPITALThe state will focus on equipping studentsat school and college level as well asfaculty members to enhance skills throughMOOC’s and partnering with recognisedonline education (Ed-tech) platforms.ORGANISE COMPETITIONS AND EVENTSThe state will organise a two-day startupsymposium to bring together innovators,investors and industry associations fromacross India and abroad. Additionally, astartup week will be celebrated in the firstweek of every calendar year.GOVERNANCEMaharashtra state innovation society(MSiNS) has been established to fosterinnovative approaches and create aconducive environment for innovativebusinesses to operate in the state.THE STATE’S STARTUP PORTAL IS “MSINS.IN “ ITS FEATURES INCLUDEStartupRegistration6Nodal RA LEADERRelevant Guidelinesand NotificationsUpcoming &Past Events
02SNAPSHOT OF STATEPERFORMANCEThe following representation details the status of Maharashtra’s implementation on each of the 7 pillars ofassessment. Data presented below is the percentile score.35%InstitutionalSupport100%Seed FundingSupport20%SimplifyingRegulations90%Venture FundingSupport33%Easing PublicProcurement57%0%IncubationSupportPerformance of theBest State in thepillarRelative Performanceof the StateAwarenessand OutreachMaharashtra has been evaluated on 7 distinct pillars which largely contribute to the growth of the startupecosystem in Maharashtra. The representation as expressed above depicts the relative performance ofMaharashtra in each of the seven pillars in comparison to the performance of the best state in that pillar.As shown above, Maharashtra has shown impeccable performance in ‘Seed Funding Support’ by being inthe 100th percentile. The range of impact generated through ‘Venture Funding Support’ and ‘Awareness andOutreach’ are significantly noticeable through this representation. Although significant efforts have beenmade to enhance the startup ecosystem, the initiatives undertaken towards ‘Incubation Support’ requireimprovement since the results have been negligible in this pillar.Detailed analyses of this snapshot can be viewed in the subsequent section, with extensive insight into theinitiatives taken by Maharashtra to uplift its startup ecosystem.MAHARASHTRA LEADER7
03PILLAR-WISEASSESSMENT1. INSTITUTIONAL SUPPORTInstitutional support envisages provisions and execution of the state’s startup policy includinginformation on the nodal team within the state, online implementation system, registration of mentorsand their listing on the state startup portal. The states are evaluated based on the laid provisionsalong with parameters of availing benefits through state intellectual property rights portal, establishingpartnerships with institutions, providing special incentives for women led startups and entrepreneurship.KEY FACTSThe government of Maharashtra has committed to provide institutional support to startups in the state. The state hasintroduced the Maharashtra State Innovative Startup Policy in 2018 with a focused vision to transform the state by fosteringthe growth of an innovation-driven entrepreneurial ecosystem. The policy provides benefits to startups in the form of taxand GST holidays, compensation and reimbursements for stamp duty and registration fee, along with financial assistance inpatent filing.The nodal agency for state’s startup is the Maharashtra State Innovation Society (MSiNS) with a responsible team of 17members managing all startup related matters.KEY STRENGTHS The policy is comprehensive and spells out the definitionof a startup. According to the policy, an entity will beconsidered a startup if: It is incorporated as a private limited company (asdefined in the Companies Act, 2013) or registered as apartnership firm (registered under section 59 of thePartnership Act, 1932) or a limited liability partnership(under the Limited Liability Partnership Act, 2008) inMaharashtra; and Up to seven years from the date of its incorporation/registration; however, in the case of startups in thebiotechnology sector, the period shall be up to ten yearsfrom the date of its incorporation/registration If its turnover for any of the financial years sinceincorporation/ registration has not exceeded INR 25crore andKEY STRENGTHSCOMPREHENSIVE STARTUP POLICY The policy provides benefits and incentives across sectors,with special emphasis on the startups in the socialsector which includes but not restricted to education,skill development, health, clean energy, water sanitationand conservation, waste management, agriculture, foodsecurity and financial inclusion. The policy aims to reduce long drawn processes by easingthe regulatory regime and enabling startups in keepingcompliance costs to a minimum. The initiatives are in theform of reimbursement for stamp duty and registration fee,support in quality testing and patent filing and tax holidaysin lieu of GST paid. If it is working towards innovation, development orimprovement of products or processes or services, or ifit is a scalable business model with a high potential ofemployment generation or wealth creation.8MAHARASHTRA LEADER
DEDICATED TEAM FOR SUPPORTING STARTUPSONLINE INTERACTIVE SYSTEM FOR STARTUPS The state has a dedicated nodal agency named‘Maharashtra State Innovation Society’ (MSInS) thatintends to foster innovation-driven entrepreneurialecosystem in the state. MSInS is the governing councilfor implementation of the policy. The society provides aplatform to entrepreneurs, researchers, academics andfosters a culture of innovation with the following objectives : The state has a dedicated online portal (msins.in) forstartups. The portal has a user-friendly registration processand is also equipped with an online resolution of queries.The screenshots of the same is shared below: To prepare the innovation roadmap of the state To provide an innovation promotion platform toacademics, entrepreneurs, and researchers as well asenabling the government from drawing upon nationaland international experiences to foster a culture ofinnovation in the state The platform would promote a network of world-classinnovation hubs and grand challenges for the state The society would act as an umbrella advisory body toboost innovation driven performance and efficiency inevery sector Along with the nodal agency, the state has a robust teamof officers to provide assistance to startups. Contact details of the nodal agency and officers alongwith the profiles of the dedicated team assigned for anystartup are made available on the startup portal (https://www.msins.in/)STRENGTHENED INTELLECTUAL PROPERTY (IP) SUPPORT The policy holds readiness for IPRs and provides bothfinancial and technical assistance to startups in filing ofpatents and trademarks thereby illustrating the state’scompetitiveness in strengthening their IP framework. The policy entails rebate of 80% in patent filing, up toINR 2 lakh for Indian patents and up to INR 10 lakh forinternational patents to strengthen the innovative outputof the startups. The state has issued guidelines with clear directions tostate’s startups to avail IPR benefits under the policy. In addition, Rajiv Gandhi National Institute of IntellectualProperty Management has been established at Nagpurthat conducts IP training, awareness, managementand research to improve the performance of startupsand increase investments in IPRs and technologydevelopment.KEY STRENGTHS To create a smart ecosystem to boost and nurtureinnovation The details of incubators and mentors registered with thestate are displayed in public domain on the online system The online system also has a dashboard detailing thenumber of registered startups, seed funded startups,venture funded startups, incubators supported, number ofincubatees and number of purchase order awarded The state also has a call centre facility for all queryresolutionsCOHESIVE PARTNERSHIPS WITH INSTITUTIONS/CORPORATES The state government currently has partnerships with bothinstitutions and corporates for assistance of professionalservices, mentorships, lab equipment, knowledgeexchange, technology transfer and market linkages. The key state partnerships include :INCENTIVES TO PROMOTE WOMEN ENTREPRENEURSHIP The state provides incentives to women founders of startupsunder its detailed Fintech Policy 2018 and promotes fintechstartups with women as entrepreneurs. The state has takenprofound initiatives and earmarked a certain portion of thetotal funds to benefit the women startups in the state. An incentive fund of INR 10 crore has been created toencourage such women led fintech startups whereinwomen are encouraged to be the founders of startupsand can avail the preferential funds from the state. The state has provided seed funding support to theunique women led startups wherein approximately 500such beneficiaries have been benefitted.MAHARASHTRA LEADER9
The key departments of the state that have immenselysupported and made endeavors in the state’s projects/policies are: Department of Agriculture leading the State ofMaharashtra Agribusiness and rural transformation(SMART) project IT Department leading the AI innovation challenge andthe FinTech Policy 2018 Mumbai Metropolitan Regional Development Authority(MMRDA) leading station access and mobilityprogramme (STAMP)KEY STRENGTHSCOORDINATED SUPPORT FROM OTHER STATEDEPARTMENTS Department of Industry, Energy and Labour throughformulation of the Maharashtra Industrial Policy 2019 The state has prominently enacted the initiatives towardsthe state’s startups with the ancillary support of the keydepartments wherein different sectors are encouragedto implement the concept of startups and gain maximumsupport for the establishment of the same towards overallstate’s economic growth.WAY FORWARDFrom the list of initiatives carried out or proposed by the state as detailed above; the state hasperformed well in this pillar. There are additional steps that the state could take in order to buildupon the initiatives further.Towards this end, the state can prioritise actions required in three categories: short, medium andlong term. Action required in each of these categories are summarised below:MEDIUM TERM ACTIVITIES (4-6 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts,results can be achieved within four to six months. Activities suggested under this category are as follows:Online implementation system for startups The state could enhance its online implementation system by adding a tracking mechanism to allow real time updates of applicationstatus to get registered and avail benefits. The mechanism could also provide application procedure along with functionality of applyingfor incentives online Along with a tracking system, the state is encouraged to provide an online issuance of the registration certificate Query resolution feature could be enhanced by adding a feature of online chat or establishing a physical centre for quick resolution The state is also encouraged to update the online dashboard on the startup portal to include month to date, and year to date figures/status on the Number of Startups registered Seed funded startups Venture funded startups Incubators supported Number of incubatees Purchase order awardedLONG TERM ACTIVITIES (7-12 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts,results can be achieved within seven to twelve months. Activities suggested under this category are:Building a mentor network In order to provide mentorship support to startups, the state could strive to create a pool of mentors for supporting startups in the state. Even though the state startup portal lists the name of mentors, the state is encouraged to have contact details along with a briefdescription on their experiencePartnerships with corporates/educational institutions The state is encouraged to focus on increasing partnerships with business houses, corporates, and/ or educational institutions in andoutside the region for extending their assistance to state-based startups These partners may provide assistance to startups such as professional services, mentorship, corporate social responsibility, co-workingspaces, software, hardware tools and other lab equipment, knowledge exchange, technology transfer and assist in market linkages10MAHARASHTRA LEADER
2. SIMPLIFYING REGULATIONSSimplification of regulations considers mandatory requisites for state level approvals and clearances forregistering and operating a business or startup online. In order to make compliance for startups friendlyand flexible, simplifications are required in the regulatory regime. It encapsulates regulatory issues facedby registered startups which have been identified through an interactive online mechanism subject toapproving action by regulatory agencies. The states are evaluated based on the support provided tostartups by introducing a list of rules, regulations or Acts in the state, including amendments in the Actsand regulations with requisite details to create a conducive environment for the state’s startups.KEY FACTSThe Government of Maharashtra has made endeavours to simplify the regulatory compliance for the state and hasestablished the Maharashtra Industry, Trade and Investment Facilitation Cell – MAITRI portal to serve as an organised onlineinfrastructure for applying, tracking and monitoring of approvals required to operate in the state. The portal functions as areal-time mechanism to address regulatory issues faced by disruptive startups.The Electric Vehicle (EV) policy of the state entails incentives for Maharashtra State Enterprises (MSE’s) and the well-builtFintech policy 2018 warrants financial incentives in the form of reimbursements of definite expenses. Overall, the state hasmobilised an exceedingly broad legislative support for startups.KEY STRENGTHS The Maharashtra Industry, Trade & Investment FacilitationCell (MAITRI) portal provides an interactive mechanism forall state approvals and clearances required for registeringand operating startups across various sectors MAITRI single window is a one-stop-shop with thefunctionality of on-line application submission, paymentand download/ receipt of approvals, tracking andmonitoring of the approvals required for setting upbusiness in Maharashtra. The government has an online portal for inviting andidentifying feedback, suggestions, queries and grievancesfor any regulatory issues faced by startups. MAITRI portalis linked to the state startup portal. The portal has anexhaustive list of approvals and clearances required, acrossdifferent sectors. A screenshot of the portal is shared.KEY STRENGTHSROBUST AND INTERACTIVE COMPLIANCE SYSTEMMAHARASHTRA LEADER11
POLICIES SUPPORTING STARTUPSINITIATIVES TO PROMOTE STARTUPS The state has introduced Acts for supporting startups. Keypolicies/regulations rolled out are :MAHARASHTRA GRAND CHALLENGEMAHARASHTRA ELECTRIC VEHICLE (EV)POLICY 2018In order to promote innovative solutions and encouragestartups, Maharashtra state innovation society (MSInS)conducts Maharashtra grand challenge in collaborationwith various government departments and agencies.The top 25 teams receive access to government funding,personnel and data. To promote export of EVs, components, battery andcharging equipment T o promote research & development (R&D),innovation and skill development in the sector andto promote sustainable transport system Thepolicyprovidesmultipleincentivesmanufacturing MSMEs throughout the statetoMAHARASHTRA INDUSTRIAL POLICY 2019Under the Maharashtra Industrial Policy 2019, one of the keypolicy objectives is to incentivise investments in startups topro
Maharashtra has been evaluated on 7 distinct pillars which largely contribute to the growth of the startup ecosystem in Maharashtra. The representation as expressed above depicts the relative performance of Maharashtra in each of the seven pillars in comparison to the performance of the best state in that pillar.
Shibuya Startup Deck with over 100 members (half of them are Japan's top 500 corporations) https://shibuya-startup-support.jp/partners/ Shibuya Startup Support 2020 - 2022 Shibuya Startup Support Website Global outreach 2020 Sept. Infrastructure 2020 Nov. Shibuya Startup Deck (consortium of
Maharashtra 1441/Maharashtra/A/ E- 1 C:\websiteadd\pplan\maharashtra\Vol 1\Executive Summary Final.doc/01 E EXECUTIVE SUMMARY E.1 Introduction Tourism industry in Maharashtra has a tremendous potential for growth, given the availability of basic infrastructure and the variety of tourist themes offered by various destinations in Maharashtra.
Council For Scientific And Industrial Research - CSIR, India Government of India, India Indian Council of Medical Research, India Indian Department of Atomic Energy, India Ministry of Electronics and Information Technology of India, India Ministry of Health and Family Welfare of India, India Ministry of Science and Technology of India, India
(N) The Maharashtra Industrial Development Act, 1961. (Ni) The Maharashtra Regional and Town Planning Act, 1966 2.2 Access:-building. 2.3.1 (iv) Maharashtra Municipal Councils, Nagar Panchayats and Industrial Townships Act, 1965; or (v) The National Building Code of India, 2005 (as amended from time to time) or its latest edition
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