Will provide collateral-free loans, set up dedicated helpline as part of Start-up Policy: Delhi CM Arvind Kejriwal

Delhi Chief Minister Arvind Kejriwal on Wednesday addressed The IndUS Entrepreneurs (TiE) Global Summit and shared Delhi Government's efforts in building a comprehensive framework and turning Delhi into a global start-up destination.

Will provide collateral-free loans, set up dedicated helpline as part of Start-up Policy: Delhi CM Arvind Kejriwal
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New Delhi: Delhi Chief Minister Arvind Kejriwal on Wednesday addressed The IndUS Entrepreneurs (TiE) Global Summit and shared Delhi Government's efforts in building a comprehensive framework and turning Delhi into a global start-up destination.


He said that there are over 7000 startups in Delhi, which makes Delhi having the highest number of active startups in the country, with an estimated valuation of about $50 billion. Arvind Kejriwal said that the Delhi government is committed to ensure that we bounce back strongly from the impact of COVID-19. 


He said that he is happy that Delhi has already taken a leadership position in India as a destination for start-ups. CM Arvind Kejriwal said that the Delhi government is committed to providing world-class infrastructure and services for start-ups and businesses in Delhi which includes power supply, roads, public transport, water supply, education, and health infrastructure. 


CM Arvind Kejriwal said that the Delhi government is at an advanced stage of rolling out a Start-up Policy. He said that to layout provisions to facilitate start-ups in Delhi, the policy is being developed after widespread consultations with TiE Delhi and leading entrepreneurs. 


The Delhi CM said that as part of the Start-up Policy, the Delhi govt plans to provide collateral-free loans and set up a dedicated helpline for startups to address their concerns and help them use govt's doorstep service. The Delhi government is taking unprecedented short and long-term steps to ensure start-ups have access to the best quality human capital in Delhi itself through Entrepreneurship Mindset Curriculum in schools and Delhi Skill and Entrepreneurship University. 


"It’s a pleasure to be a part of the TiE Global Summit and speak to all of you today. I will be sharing with all of you Delhi's efforts in building a comprehensive framework to turn Delhi into a global start-up destination. Like it is happening all over the world, Delhi’s economy also has been badly hit due to the Coronavirus pandemic. Many businesses are struggling to stay afloat and many people have lost their jobs. While all businesses are struggling, I can understand that start-ups must be facing an even tougher time. The Delhi government is committed to ensuring that we bounce back strongly from the impact of Covid. We want to create all the necessary conditions for businesses, and especially, start-ups to flourish. I am happy to note that Delhi has already taken a leadership position in India as a destination for start-ups," CM Arvind Kejriwal said. 


"According to a September 2019 TiE report, there are over 7000 startups from the Delhi-NCR region. This makes Delhi as the region with the highest number of active startups in the country. It is estimated that the valuation of the city’s start-ups is about 50 billion dollars. The region has also produced about 13 unicorns like PayTM, Oyo, and Zomato. At least one new unicorn has been emerging each year since 2013. Between January and June, 2020, 109 startups were founded in Delhi-NCR, the highest number of startups being founded in the first six months of 2020 in India.


"The report states that Delhi-NCR is set to become one of the top five global start-up hubs with 12,000 startups and 30 unicorns. Their cumulative valuation will be about 150 billion dollars by 2025. Of course, it is not a given and that is why the Delhi government is committed to taking all necessary actions to ensure Delhi becomes a preferred destination for start-ups globally. First and foremost, what all start-ups need is good infrastructure. Delhi government is committed to providing world-class infrastructure and services for start-ups and businesses in Delhi. This includes, power supply, roads, public transport, water supply, education, and health infrastructure," he added.


"Delhi is probably the only city in India that provides 24x7 power supply to its residents. We don’t have power cuts. DG sets and inverters are all becoming redundant. But this wasn’t the case 5 years back when summers in Delhi were synonymous with 4-6 hours of power cuts. Over the last 5 years, we have worked round the clock with our DISCOMS to upgrade the entire network and ensure our residents get 24x7 supply and at the cheapest possible tariff. Delhi has a complex governance setup with over 16 agencies managing the road network. That makes it difficult to upgrade the road infrastructure. But we have ambitious plans to renovate and upgrade over 500 km of the largest roads in Delhi to European standards in the next 5 years."




Image: Google

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