The government of Telangana recently handed over incentives under innovation policy to 11 startups who have justified the eligibility criteria and necessary documentary evidence.
67 applications have been received from 32 startups under four categories- Performance grant, Reimbursement of Patent expenditure, SGST reimbursement, and Recruitment assistance, out of which 17 applications have been sanctioned to 11 startups.
The startups received the incentives from Chief Secretary to Telangana Government Sri. Somesh Kumar, IAS, along with Sri. Jayesh Ranjan, Principal Secretary to IT & IC, Government of Telangana.
Chief Innovation Officer of TSIC and Chief Executive Officer of T-Hub said, “Telangana is a startup state and we have moved further in helping startups in a sector-specific manner. This is an outcome of not just providing the mentorship, and facilitating connections to investors, but we are now in the stage of providing the funding support under state incentives. Going forward, we hope to have many other financial and monetary benefits rolled out that can be availed by the startups, for which I call out all the eligible startups to apply for the next batch of incentives to leverage the support being extended.”
The applications for the second batch of incentives are open, and the eligible startups can apply at www.startup.telangana.gov.in