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Madhya pradesh startup policy

Madhya Pradesh startup Policy

OVERVIEW

Policy Name MP Incubation and Startup Policy 2016
Website Department of Micro, Small & Medium Enterprises
Policy Document Download here
Nodal Agency Department of MSME
Office Address 

Address: Room no-514, 5th Floor, Directorate of Industries, VindhyachalBhavan, Bhopal

Contact Details

Phone Number:  0755-2677988

Email: [email protected], [email protected]

Incentives to Startups

1. Interest subsidy

Type of Benefit Fiscal
Benefit Details

Eligible startups shall be provided an interest subsidy of 8% per annum for a period of 3 years on the rate of interest paid on loans obtained from scheduled banks/financial institutions subject to a maximum limit of Rs. 4 lakhs per year. 

Eligibility Criteria Entrepreneurs/startups running in the incubators need to be registered as a company or under the MSME Act, Govt of India before availing incentives. 
Application Procedure

Apply to Nodal Agency.

 2.Rental Lease subsidy

Type of Benefit Fiscal
Benefit Details

Reimbursement of 25% of lease rental subsidy to startup units established in the state operating from incubators shall be eligible for a period of 3 years subject to a ceiling of Rs. 3 lakhs per year from the date of rent payment to incubator.

Eligibility Criteria Entrepreneurs/startups running in the incubators need to be registered as company or under MSME Act, Govt of India before availing incentives. 
Application Procedure

Apply to Nodal Agency.

3.Patent quality and Promotion subsidy

Type of Benefit Fiscal
Benefit Details

Cost reimbursement for patent/quality certification per unit up to a limit of Rs. 2 lakhs for domestic & Rs. 5 lakhs for international patent/quality certification upon successfully receiving them. 

Eligibility Criteria Entrepreneurs/startups running in the incubators need to be registered as a company or under the MSME Act, Govt of India before availing incentives. 
Application Procedure

Apply to Nodal Agency.

4.Marketing assistance

Type of Benefit Fiscal
Benefit Details

One time marketing assistance of maximum Rs. 10 Lakhs to eligible startups for their product/service launch in the market upon securing of minimum funding of 25% from a registered angel/venture fund/ registered incubator by the startup.

Eligibility Criteria Entrepreneurs/startups running in the incubators need to be registered as a company or under the MSME Act, Govt of India before availing incentives. 
Application Procedure

Apply to Nodal Agency.

 

 

 

 

 

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