Rajasthan Government Proposes Seed Money upto Rs 25 Lakh under iStart Scheme

Rajasthan Government in its 2021-22 budget unveiled plans for promoting the promising startups in the state. To assist startups at the idea or prototype stage, they will provide seed money up to Rs 25 lakh. This is in addition to the Rajasthan Startup Policy, 2015 CM Ashok Gehlot has stated. He further added that the iStart program will continue giving all the benefits of the State Startup Policy.

“To accelerate the growth of entrepreneurship in the state and promote the talent of youth, we are already providing the best support. Currently, the iStart program is successfully supporting urban cities. Rural Rajasthan’s young ones have already proven the strong willpower and unmatched capabilities of innovation. They will get benefited from Rural i-Start that is proposed to be rolled out in the coming FY,” Gehlot said.

There is a huge business opportunity for Startups with the Rajasthan Government’s various departments. To support startups, it will give work orders up to Rs 15 lakh without tendering process, to the registered startups. Notably, during last year, promising startups of the state raised over Rs 200 Cr funding. Some of them were DealShare (147 Cr), Fleece (25 Cr), Freshokartz (10 Cr), Kirana King (7 Cr); Med Cords (7 Cr), Krimanshi Feeds (5 Cr), Fabriclore (4 Cr). The major investors in these startups were Alpha Wave Incubation, Falcon Edge Capital, Z3 Partners, Matrix Partners India, Omidyar Network India, Bridgestone India, Rajasthan Venture Capital Fund (RVCF), and more.

About iStart Nest

iStart Nest is the Government of Rajasthan’s incubation centre. The centralised incubator provides free incubation to emerging startups. It helps startups gain traction through deep mentor engagement, rapid iteration cycles, and fundraising preparation.

iStart Nest offers state-of-the-art facilities at its incubation centre with a wide range of resources and mentoring from industry tycoons. It works with an extensive network of investors, accelerators, and mentors to help entrepreneurs launch and grow their companies.