Daijiworld Media Network- Panaji
Panaji, Jun 24: In a significant move to strengthen the startup ecosystem and foster entrepreneurship among the youth, the Goa government has operationalised a new scheme that offers Rs 10 lakh financial aid to colleges for setting up incubation centres within their campuses. The initiative, announced by Chief Minister Dr Pramod Sawant, is aimed at nurturing innovation and encouraging students to venture into startup creation.
Addressing students at Dempo College, CM Sawant said that the government is committed to building an environment that supports startups and young entrepreneurs. He noted that Rs 4 crore in subsidies have already been disbursed under the state’s startup policy, and multiple incentives are now in place to encourage local ventures.
Startups in Goa are eligible to receive seed funding of up to Rs 10 lac, in addition to salary support of Rs 15,000 per month for 10 employees, and a bonus Rs 25,000 for each Goan youth hired. The state is also offering subsidies for co-working spaces, internet usage, and cloud services, and reimbursing amounts spent on research and development activities.
The chief minister highlighted that the Entrepreneurship Development Institute of India (EDII) has now set up a branch at the Economic Development Corporation (EDC) in Goa. This centre will offer mentorship and business guidance, helping aspiring entrepreneurs identify viable opportunities based on their skills and interests.
Sawant also announced the expansion of Goa’s innovation infrastructure. He confirmed the operational status of the Atal Incubation Centre at Goa Institute of Management, and revealed plans to establish a Global Capability Centre for Artificial Intelligence and innovation, a Centre of Excellence for Skilling, and a State Data Centre in Goa.
Currently, 635 startups are officially recognised and functioning in the state, reflecting the growing interest in entrepreneurial ventures. CM Sawant urged students to take full advantage of the support systems now available, stressing that early preparation and awareness are key to success — whether in business or public service.
Drawing a comparison with other states like Bihar, where students begin preparing for civil service exams as early as Class VIII, the chief minister called upon Goan youth to adopt a proactive approach. “If we want to crack the Goa Public Service Commission exams and become deputy collectors, mamlatdars, or even clerks, we must start preparing now,” he said. The examinations, he added, are fully computer-based and transparent, offering instant results.
With the new initiatives in place, Goa aims to position itself as a hub for startups and digital innovation, equipping its youth with the resources and opportunities needed to thrive in a competitive world.