VentureStudio, Ahmedabad University, is one of the Nodal Institutes for the Startup Scheme of the Government of Gujarat. The Scheme offers upto INR30 lakh for Eligible Innovative Entrepreneurs for product development, marketing, and professional assistance. VentureStudio enables startups to apply to the Scheme and assists them to avail the Grant. Till date, 15 of our startups have been approved under the Scheme.
The applicant can apply for this Grant round the year. All the proposals received will be screened by the internal team at VentureStudio for basic eligibility criteria such as innovation, market size and commercialisation potential as per the guidelines. This internal screening for the Grant will take place every 4 months (in March, July, and November). However, this may change subject to the committee's availability. Once selected, the startups will be recommended to the Government of Gujaratfor a final screening that will be conducted as per their mandate.
Startups and Innovation play a key role in economic growth. Besides generating jobs, they focus on smarter, gen-next solutions which bring economic dynamism through innovation and competition. Gujarat, owing to its inherent entrepreneurial spirit, has gained a significant spot in the national startup ecosystem. The incentives to Startups under the Gujarat Industrial Policy 2015 have supported in creating a strong network of nodal institutions, and several startups have expanded their operations/products both at the national and the international level. The key objective of the Gujarat Industrial Policy 2020 is to encourage R&D, and foster innovation and entrepreneurship. This Scheme is introduced to support startups and innovations at different levels of their startup cycle.