Chandigarh: The UT administration, under the proposed Chandigarh Startup Policy, will set up the Chandigarh Innovation Council, an initiative designed to boost innovation and research in sectors such as education, healthcare and information technology (IT). This was decided at a meeting chaired by UT advisor Dharam Pal on the draft startup policy, held here on Monday. In accordance with the discussed project, it is proposed that the council allocates a specific part of the annual corpus of startup policy in accordance with the national innovation and startup policy for students and professors, aimed at nurturing research ideas among young innovators within higher education institutions. “Collaboration between various government ministries and the UT industries department will significantly improve the incubator ecosystem in Chandigarh,” an official said. “This initiative will provide early-stage startups with a wide range of resources and services, including physical infrastructure, capital, mentoring, networking and essential services like legal and corporate support, all essential for developing business models scalable and bring innovative solutions to the market. market,” the official said. Regarding the proposed policy, the importance of strengthening existing incubators within technical education institutes in Chandigarh, with emphasis on innovation, research and entrepreneurship, was highlighted. The institutes will focus on practicality and needs-based research, in line with industry requirements. Institutions will be encouraged to devote part of their annual funds to startup-related research. During Monday’s meeting, the advisor and other senior officials suggested several changes to the draft policy, particularly regarding funding and financing of the policy. In the draft policy, the administration intends to create a separate legal entity, preferably a company under Section 8 of the Companies Act, 2013, to implement and execute the policy. Modalities regarding this implementation will be explored in coordination with the relevant ministries of the Government of India. “To ensure adaptability in the ever-changing start-up landscape, it has been decided that the duration of the policy would be fixed at five years from the date of notification. , with annual reviews,” the official said.
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