25August2019

Andaman Chronicle

The Daily Diary of the Islands

Startups Asked to Get Recognized and Avail Financial Benefits

Port Blair, Aug 13: The UT of Andaman & Nicobar Islands has formulated Andaman & Nicobar Startup Policy which was launched by the Prime Minister during his visit to these Islands on December 30, 2018. The Andaman & Nicobar Innovation & Startup Policy-2018 acts as a catalyst in creating an enabling environment for innovators and start-ups to flourish and to grow.

The objective of the policy is to develop a startup ecosystem in the Andaman & Nicobar Islands in the next 5 years. The UT Administration has made prominent strides towards implementation of Startup India scheme and already notified the operational guidelines of the scheme in respect of Andaman & Nicobar Islands. The Startup India portal has also been launched, which can be accessed at ls1.and.nic.in/startupindia/

The Startups are required to get themselves recognized through DPIIT startup portal. Once the recognition as a startup is obtained, the startups could apply online for the following financial benefits under the Startup Policy through the Andaman & Nicobar Startup Portal.

Monthly Allowance, Startup Growth Grant, Marketing Assistance, Subsidized Incubation/Co-Working space, Patent Cost Reimbursement, GST Reimbursement, Digital Technology Subsidy, Power Subsidy.

The details of the notifications and guidelines as well as eligibility criteria of the aforementioned benefits can be seen in the Startup Portal. The applications are to be received online.