Scheme Name: Scheme for providing Fiscal Incentives to Incubators in Public & Private sector

State: Punjab

Description of the Scheme: Incentives shall be available to new incubators as well as to existing incubators undertaking expansion in addition to any other incentives that they might be entitled to under Government of India schemes:
(i) Capital Subsidy
Eligible Govt. Host Institutional Incubators will be provided one-time capital grant of 100% of FCI subject to maximum Rs.1 crore for setting up Incubator and Private Host Institutes & Stand-alone Incubators shall be provided capital grant of 50% of FCI subject to maximum Rs.50 lakhs for setting up Incubator
(ii) Recurring Expense Reimbursement
All approved Incubators shall get the support for recurring expenses as operational subsidy assistance up to the limit of Rs.3 lakhs per year for a period of 5 years.
(iii) Mentoring & Training
In order to provide mentoring for priority issues such as fundraising, scaling, recruitment and product interface, Incubators shall be provided mentoring assistance support up to a limit of Rs.3 lakhs per year for 5 years.
(iv) Start-up Competition Assistance
Encourage entrepreneurship culture in colleges, eligible Institutes of National Importance, State Universities & Central Universities, established Incubators in these institution?s premises shall be supported by state government to organise such start-up competition fest annually in which state shall provide assistance up to the limit of Rs.5 lakhs per event.
Any eligible incubator getting capital assistance will have to run and operate incubation centre for a minimum period of 5 years.

Target group :

Sector of the Scheme:

Eligibility Criteria:

Nature & Mode of Assistance:

"Financial Information (Subsidy, low interest rate, etc.)":

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply:

Whom to Contact: General Manager, District Industries Centre