Entrepreneurship Ecosystem Overview Goa 1
Levers of change Entrepreneurship Following are the key levers of change which determine whether a state s policy, education, legal framework, financial systems, business markets, cultural and social ethos are augmenting Entrepreneurship Growth: 1. The Entrepreneur 2. Govt. & Regulatory Support 3. Access to Finance 4. Educational & Cultural Preparedness 5. Mentoring & Networking 2
The Entrepreneur 3
Goa ranks #19 on Ease of Doing Business 2017-18 index according to the Department of Industrial Policy and Promotion's (DIPP). 4
Govt. & Regulatory Support 5
Schemes & Policies: Craftsmen Training Scheme and Apprenticeship Training Scheme Facilitating Organizations Directorate of industries, Trade & Commerce 6
Craftsmen Training Scheme and Apprenticeship Training Scheme The objective of the scheme is to ensure steady flow of skilled manpower in industries and also to reduce unemployment amongst the educated youth by equipping them with the required skills, education and discipline for suitable industrial employment as well as self employment. https://www.goa.gov.in/department/craftsman-training/ 7
Directorate of industries, Trade & Commerce The Directorate of Industries, Trade and Commerce (DITC) is responsible for promotion, development and regulation of Industries within the State of Goa. It is also responsible for implementing government policies for all round development of industries in the State in co-ordination with Goa Investment Promotion and Facilitation Board ( IPFB), Goa Industrial Development Corporation ( Goa IDC), Goa Handicraft Rural Small Scale Industrial Development Corporation ( GHRSSIDC), Khadi & Village Industries Board( KVIB), EDC Ltd, and other departments of the government. DITC is the implementing agency for 2017 EoDB recommendations. http://goaditc.gov.in/index.html 8
Access to Finance 9
Schemes: IT investment policy 2015 Chief Minister s Rozgar Yojana Capital contribution scheme 2008 Interest Subsidy Scheme 2008 Incentives to women entrepreneurs scheme 2008 Startup Goa Policy 2018 VC s/angels/other Institutions CIBA EDC Limited 10
IT Investment Policy 2015 The policy aims to make IT/ITES/ESDM a vibrant industry leading to inclusive growth and employment generation and to encourage start-ups IT/ITES/ ESDM space. Incentives offered to all units under the policy are as under:- Stamp duty exemptions: All units will be entitled for 100% remission of stamp duty on lease of land/office building. Zero rate of tariff: Zero rate of tax for transactions effected by units from Domestic Tariff Area to units in Software Technology Park or to Electronic Technology Park. 100% waiver on payment of electricity duty on self-consumption up to 12 years from the date of commencement of operations. Reimbursement of 30% of capital cost for setting up of in-house backup power plant upon commencement of operations, subject to maximum ceiling of 10 lakhs) 11
All units will be reimbursed actual charges or 3 lakhs, whichever is less, for quality certification. Reimbursement of 30% of the capital cost for setting up of in-house solar back up plant upon commencement of operations with a ceiling of 10 lakhs. Incentives to Start-Ups: Government will setup Incubation Centres to house start-up companies. Start-up companies operating in such Incubation Centres will be directly eligible for below mentioned incentives. All start-up units will be entitled to waiver of lease rental in the incubation centre for 5 years. All start-up units will be entitled to waiver of internet bandwidth usage charges with maximum limit of 1 lakh per annum for period of 5 years. A start-up unit will be entitled to a one time capital fund of 2 lakhs. 12
The incentives mentioned below will be applicable to all new units and start-ups operating anywhere in the state of Goa:- 100% remission of stamp duty (upto 1 lakh) paid to the Government towards lease/purchase made by the start-up (IT/ITES/ESDM) while establishing operations in Goa. Each unit/start-up will be entitled to a special incentive on generating local employment in the form of reimbursement of 10% of the salary paid out to the local employee. 100% waiver on payment of electricity duty on self-consumption up to 5 years from the date of commencement of operations for new units / startups subject to a ceiling of 2 lakhs per unit/start-up. Reimbursement of internet bandwidth usage charges with maximum limit of 1 lakh per annum for period of 5 years from the date of commencement of operation. 13
Incentives available to existingit/ites/esdm units in the state:- 100% remission (upto 2 Lakhs) of total stamp duty paid to the Government towards lease/purchase made by the established IT/ITES/ESDM for any one of its unit operating in Goa. Established unit operating in Goa for more than 3 years and willing to expand/shift its operations in the notified area will be eligible to a land lease concession of 50%. Each established unit will be entitled to a special incentive on generating local employment in the form of reimbursement of 10% of the salary paid out to the local employee; subject to the ceiling of 5 lakhs per year for a period of three (3) years. https://www.goaonline.gov.in/public/files/investment_policy2015_final_copy_policy.pdf 14
Chief Minister s Rozgar Yojana Dr Verghese kurien Rozgar Yojna or Chief Minister s Rozgar Yojana is aimed at providing financial assistance to unemployed youths to set up business. It is being implemented through Economic Development Corporation (EDC) Goa. Quantum of Assistance: Maximum Rs. 20.00 lakh, including 50% share capital (80% in case of SC/ST applicant) for an individual with professional degree/ /diploma/i.t.i., including those undergoing special training programmes conducted by authorised Government Departments/Corporations. Maximum Rs. 15.00 lakh including 50% (80% in case of SC/ST applicant) share capital for others. http://www.dol.goa.gov.in/bhashavp.pdf 15
CAPITAL CONTRIBUTION SCHEME 2008 The scheme envisages providing capital contribution to the existing functional units to venture out and expand. The scheme is designed to support local entrepreneurs, promote industrial units which venture out and develop special products, based on locally developed technology. Maximum capital contribution upto Rs.1.00 crore per unit will be available under this Scheme. Beneficiary contribution should be more than or equal to govt. contribution. Preference will be given to the units in the small scale Sector, units involved in research and development, technical oriented units and the units run by women entrepreneurs/clusters. http://goaditc.gov.in/capital_cont.html 16
Interest Subsidy Scheme 2008 The scheme envisages providing subsidy to new and tiny units in manufacturing sector on interest payable by them. The main objectives of the schemes are to provide incentives to small industries for making their units financially viable and to promote industrial growth in the state and create an optimistic environment for small investors and local entrepreneurs to invest. Incentives shall be given to eligible units to the extent of 1 1/2% of the total net turnover or 30% of the interest paid by the units, whichever is less, subject to a ceiling of Rs.5.00 lakhs per annum. http://goaditc.gov.in/int_sub.html 17
Incentives to Women Entrepreneurs Scheme 2008 In order to encourage the employment opportunities for women entrepreneurs, the Goa Industrial Policy envisages special incentives to women under various schemes. The objective of this Scheme is to encourage women entrepreneurship and encourage women to start industry for self-employment. 5% additional benefit under Local Employment Subsidy Scheme. Women entrepreneurs to get preference in Capital Contribution and under Special Capital Contribution Schemes. http://goaditc.gov.in/women.html 18
Startup Goa Policy 2018 The Startup Policy envisions making Goa one of the most preferred startup destinations of India. Benefits for Startups: Matching Grant Scheme Interest Subsidy Reimbursement Scheme Seed Capital Scheme Loan Grant / Interest Subsidy IPR Reimbursement Scheme Trademark Reimbursement Scheme The policy also provides benefits for incubators and educational insitutes. https://goa.startupindiahub.org.in/content/sih/goa/goa-incentives.html 19
VCs/Angels/Other Institutions CIBA: Centre for Incubation and Business Acceleration is a technology business incubator established with support from Department of Science and Technology, Government of India and Department of Science, Technology and Environment, Government of Goa. CIBA is committed to growing a collaborative and inclusive entrepreneurial network for Goa with a single window support system for startups. Its located in Verna & Mapusa. They provide seed funding, accelerator program, incubation facilities. http://www.ciba.org.in/home.php?verna=true EDC Limited: EDC Limited is a premier financial institution in Goa. Formerly known as Economic Development Corporation. It has financed thousand of projects in the state resulting in economic activity and job creation. http://www.edc-goa.com/about-us/what-isedc-ltd.html 19
Education & Cultural Preparedness 20
Educational Institutions Promoting Entrepreneurship Shree Rayeshwar Institute of engineering & IT-Entrepreneurship Development Center (EDC acts as a Key Resource Center of the Institute to promote the entrepreneurship development activities and also to become a channel in facilitating emergence of competent first generation entrepreneurs and transition of SMEs among the Engineering Students through entrepreneurship education, training, research, project work and related formal and non-formal programmes. http://www.ritgoa.ac.in/ Goa Institute of Management E-Cell is a prominent student body that conducts numerous workshops, seminars, events and interactive sessions with eminent entrepreneurs, thus, providing the students with unparalleled exposure to the entrepreneurial world. It also provides the students a platform to work on the live projects from start-ups which adds a star to their work experience and boosts management expertise. http://www.gim.ac.in/gim_clubs_display.php?clubid=19 21
GEMS Goa Entrepreneurs Mentoring Services Trust has been established to motivate, train & mentor Entrepreneurs in Goa. http://www.gemsgoa.org/index.php Start-Up Goa: A grassroots initiative that provides valuable information and support to companies looking to start-up in Goa. It organizes regular workshops to assist professionals and entrepreneurs. http://startupgoa.org/ Angel Entrepreneurship Development Institute (AEDI): They provide mentorship, training programs and counseling to the entrepreneurs since 2000. http://www.aedigoa.org/index.php?pi=14# 23
Mentoring & Networking 23
Prototyze: They invest (and facilitate) capital, provide infrastructure, help build products, and providing services including financial and legal to the startups. http://prototyze.com/ TBI Bits Pilani Goa Campus: The Bio-incubator, an initiative of CIIE of Birla Institute of Technology and Science, Pilani K K Birla Goa Campus, aims to promote innovations and entrepreneurship in the areas of Healthcare and Environmental Engineering. http://www.bitspilani.ac.in/goa/ciie/incubator Goa IT innovation Centre (GITIC): Goa IT innovation Centre is an IT incubator which aims to foster an environment that will render successful businesses and will leave the IT entity financially viable. https://www.facebook.com/pg/goa.it.innovation.centre/about/?ref=p age_internal 24
91Springboard: The space will be soon open in Goa providing al the essential services and flexi plans to choose from. http://www.91springboard.com/coworking-space/goa/ Zenco.work, colabr, Sky Villa, igoa, Silicon Square Space are other coworking places in Goa. http://startupgoa.org/coworking-spaces-ingoa/#.wcuurmicziu DCCPER: The company uses design, technology and strategy to help clients find a unique voice, solve meaningful problems, build apps and platforms. http://dccper.com/company Bootstart Mandrem: The facility is coming up in Mandrem and will be coworking space for startups, entrepreneurs, and innovators. http://www.bootstart.in/ 26
Thank You. 26