Goa launches new startup policy to create 1,000 ventures, generate 10,000 jobs

PANAJI: The Goa government has launched a new startup policy to establish 1,000 startups in the state, generate 10,000 jobs for Goans and support women entrepreneurs, an official said on Friday. The Goa Startup Policy 2025, which aims to turn the coastal capital into India’s “creative capital”, was rolled out last week to build an ecosystem by linking entrepreneurs with venture funding, government collaboration and partnerships across industry stakeholders, incubators and academic institutions, he said.

The spokesman for the Department of State Information Technology, Electronics and Communication (DITEC) said that Goa is rapidly evolving into a technological and creative hub. Goa is now home to 696 DPIIT (Department for Promotion of Industry and Internal Trade)-recognised startups, he said.

With a vision to position Goa as a premier startup destination by 2028, the new policy outlines measurable goals, including establishing 1,000 startups, providing jobs to 10,000 Goans within startup ventures and enabling 100 startups to access venture funding, the spokesman said.

Govt collaboration

The policy also aims to facilitate government collaboration with 50 startups and foster partnerships with stakeholders like incubators, entrepreneurs, corporates, and educational institutions. “The Campus Innovation Scheme under the new policy offers grants to students engaged in entrepreneurial or research-based projects, reimbursing expenses incurred during project development,” he said.

Startups can also benefit from the Skill Enhancement Scheme, which provides reimbursement for skill development courses in Artificial Intelligence and other emerging technologies, the official said. “The government will also collaborate with private entities and assist educational institutions and industrial parks in setting up IT labs, Maker Labs, Centres of Excellence, and Innovation Centres,” he said.

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Monthly allowances

As part of the policy, a dedicated mentoring and funding programme will be implemented to support women entrepreneurs through monthly allowances to startups founded by women working on innovative projects.

“Additionally, the new Promotion and Marketing Assistance Scheme will support startups participating in government-supported exhibitions and shows by reimbursing a significant portion of the cost,” the spokesman said. He said the Goa Startup Policy 2025 will create an ecosystem that nurtures the next generation of leaders and creators.

“This policy will play a pivotal role in making Goa a global hub for creativity, technology and innovation and establishing Goa as the Creative Capital of India,” he said.