Financial Assistance

Assistance on investment received, Patent Assistance and Lease Rental Assistance are provisioned in the policy. For Start-ups and incubators established in the state the Assistance on investment received -

For a start-up that has received funds/investments from a financial institution recognized by SEBI (Security and Exchange Board of India)/RBI, assistance will be given at the rate of 15% maximum upto Rs.15 lakh, of the first investment received. This assistance will be payable at the rate of 15% separately for each of the investments received over a maximum of four stages during the life of the start-up.

In the above context, assistance of Rs. 5 lakh will be given to the concerned incubators located in Madhya Pradesh.

ØAdditional 20 percent assistance to Startups set up by Women.

ØEvent Organizing Assistance – Assistance of Rs. 5 lakh per event to incubators located in Madhya Pradesh for organizing events related to start-ups not exceeding Rs. 20 lakh per annum.

ØIncubation Upgradation Assistance - One time assistance of Rs.5 lakhs for the up-gradation of Incubators, but to avail this facility, each Incubator will have to increase its existing seat capacity by an additional 20%. This facility will be available only once in the entire life of the incubator.

ØLease Rental Assistance – 50% up to a maximum of Rs. 5000/- per month lease rental assistance for three years, on the rent paid per month for the workspace taken on lease by the startups. The said assistance will also be available to the product-based startups set up in industrial areas/parks/clusters owned or aided by the State Government, on the lease rent and maintenance charges paid by them on the plot/shed/constructed space taken on lease. Provided that the said assistance shall not, under any circumstances, exceed 50% of the amount paid in the above items, subject to a maximum of Rs. 5000/- per month and for a period not exceeding three years.

ØPatent Assistance - Maximum assistance of Rs.5 lakh for obtaining a patent subject to the condition that the patent is obtained for a start-up established in the state.