Delhi launches start-up plan to assist young people start businesses

Chief Minister Arvind Kejriwal announced on Thursday that the Delhi Cabinet has adopted a start-up strategy that aims to provide financial and procedural assistance to youth in starting businesses. A 20-member task force will be established for the purpose.

Kejriwal said that the "Business Blaster" programme, which is already being implemented in Delhi government schools, will be extended to college students so that they can work on their business ideas using government seed money.

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"The government will provide financial help to start-ups through collateral-free loan, financial parts of rent and employee salaries. It will form a panel of agencies and experts to provide free help to new start-ups in trademark registration and fulfilling other formalities." 

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Kejriwal expressed optimism that the legislation would result in a spike in the start-up sector in Delhi.

20 members will be part of the task force; which includes a government officer, academics, and industry and trade representatives, who will decide on registration applications from start-ups.

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Business Blasters project is a hands-on component of the Entrepreneurship Mindset Curriculum (EMC) curriculum for grades XI and XII, in which students are given seed money (Rs. 2000 each) "to build on an idea that generates profit, or solves a social problem". The program is powered by ₹60 Crores in seed capital provided by the Delhi Government.

The initiative allows EMC students to exhibit their problem-solving skills by producing value that; Innovation that can be used to solve a variety of problems or needs; Identifying and addressing a market need or taking on a communal problem and solving it effectively.

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(With inputs from agencies)