If all goes as planned,Chandigarh's Startup Policy is Set to Be a Game Changer for Entrepreneurs. The captains of industry are upbeat...as it can transform GCR into a new major startup ecosystem in the footplains of Himalaya, the water tower of India that feeds five major river systems.
Chandigarh, 23 August 2024: The Greater Chandigarh Region (GCR) is on the brink of becoming India's next big startup hub, with the much-anticipated Chandigarh Startup Policy nearing its final stage.
The policy, which has undergone thorough stakeholder consultations and expert input, is expected to revolutionize the entrepreneurial landscape of the Union Territory by providing the much-needed boost to startups through strategic investments, policy support, and strong educational infrastructure.
At the CII Chandigarh Startup Conclave 2024, Captains of industry, government representatives, and startup founders gathered to discuss GCR's rising prominence as a startup destination.
"Chandigarh's unique demographic offers a fertile ground for entrepreneurship. Our administration is committed to creating an all-inclusive startup ecosystem," said Ms. Hargunjit Kaur, Secretary – Industries, Chandigarh Administration.
"The upcoming startup policy will be a game changer for the city, making it a preferred destination for entrepreneurs."
Anurag Gupta, Chairman, CII Chandigarh UT & Managing Director, Usha Yarns Ltd, emphasized, "Despite challenges like limited access to venture capital, GCR's dynamic community, supported by government initiatives and educational institutions, is driving sustained growth. Financial incentives, infrastructure development, and skill promotion are key to encouraging innovation and lowering barriers for new startups."
Dr. Madhu Chitkara, Conclave Co-Chair and Pro Chancellor, Chitkara University, highlighted the importance of collaboration: "By working together—government, academia, and the private sector—we can create a thriving startup ecosystem.
Financial incentives like seed funding and tax breaks, along with continuous skill development, are crucial for supporting startups in their early stages."
"The strength of India’s startup ecosystem lies in its diversity and resilience," added Prateek Garg, Chair, CII Northern Region Committee on Startups & Entrepreneurship and Managing Director, Progressive Infotech (P) Limited.
"Our focus is on building a collaborative environment where startups can thrive, scale, and contribute meaningfully to India’s economic progress."
Vice Chairman, CII Chandigarh UT & Chief Executive Officer and Founder, Agnext Technologies Pvt Ltd, Taranjeet Bhamra, concluded, "Chandigarh’s startup ecosystem, especially in Information Technology, will be nurtured through strategic investments and policy interventions, leveraging the city's entrepreneurial spirit."
The conclave also showcased emerging startups from the Punjab Innovation Mission and institutions like Chitkara University and IIT Ropar, underscoring the region's thriving entrepreneurial spirit.
As GCR continues to attract attention, the collaborative efforts of government, academia, and industry are set to position the region as a major player in India's startup ecosystem.
