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Telangana Govt reveals a series of startup plans & industry policies

The Telangana government on Monday revealed a series of policies and initiatives to help promote startups and Information and Communication Technology (ICT) infrastructure in the state, reports Livemint. The government plans to setup multiple incubators, seed funds, and industry-based initiatives for which it has signed Memorandum of Understanding (MoUs) and partnership agreements with various companies as well. It claims to have signed 28 ‘in-principle agreements’ or MoUs to help setup facilities and funds to create employment and to help spread ICT penetration among rural areas, added the report. Initiatives for startups Through initiatives dedicated to startups, (pdf) the government is aiming to support around 5,000 start-ups in the state, which includes 1,000 startups in the tech products space; 400 startups in the clean-tech space, and 300 startups in the electronics sector. - The government said that it would develop a 1 million sq.ft. workspace dedicated to startups over the next five years. About one-third of this space (300,000 sq.ft.) would be developed as second phase of the T-Hub which can house at least 900 start-ups. - It also plans to collaborate with 20 global accelerators and incubators to build ‘plug-and-play’ workspaces through a public-private partnership (PPP) mode. -The government plans to float a Rs 2,000 crore innovation fund across different sectors and growth stages for startups, along with a separate plan to set up a Rs.250 crore seed fund. Tax incentives and reimbursements: -Reimbursement of service tax paid by startups incubated with the help of government supported incubators, wherein the…

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