iStart Rajasthan is an initiative by the Government of Rajasthan to promote entrepreneurship and start-ups in the state. The main goal of the initiative is to create a vibrant start-up ecosystem by providing support to entrepreneurs, both at the ideation and execution stage. The initiative focuses on supporting start-ups in sectors such as technology, agriculture, healthcare, and tourism.
The initiative includes various components such as incubation centers, mentorship programs, seed funding, and networking opportunities. iStart Rajasthan also organizes events and workshops to create awareness about entrepreneurship and connect entrepreneurs with investors, mentors, and other stakeholders.
Eligibility for iStart Rajasthan Registration
An entity, such as a Private Limited Company, Registered Partnership Firm, or Limited Liability Partnership, may be considered a “startup” if it meets the following criteria:
- It has been incorporated or registered for up to 7 years, or up to 10 years in the case of startups in the biotechnology sector.
- Its turnover for any of the financial years has not exceeded INR 25 crore.
- It is working towards innovation, development, deployment, or commercialization of new products, processes, or services, or has a scalable business model with high potential for employment generation or wealth creation.
- It has not been formed by splitting up or reconstruction of a pre-existing business.
It is important to note that a proprietorship or a public limited company is not eligible as a startup. However, a One Person Company, being a private limited company, is entitled to be recognized as a ‘startup’.
Upon completing a successful registration process, you will be able to access and download a verifiable certificate of recognition that is generated by the system.
Benefits of iStart Rajasthan
The benefits of the initiative include:
- Access to resources, networks, and funding for entrepreneurs
- Incubation centers and mentorship programs to provide support at the ideation and execution stage
- Seed funding for early-stage start-ups
- Networking opportunities to connect entrepreneurs with investors, mentors, and other stakeholders
- Events and workshops to create awareness about entrepreneurship
The process of availing the benefits under the initiative is as follows:
- Entrepreneurs need to register with IStart Rajasthan by submitting the required documents and information.
- After registration, entrepreneurs can access the resources and services provided by the initiative.
- Incubation centers and mentorship programs are available for entrepreneurs at the ideation and execution stage.
- Seed funding is provided for early-stage start-ups, and entrepreneurs can apply for it by submitting a business plan and other required documents.
- Networking opportunities, events and workshops are organized by the initiative to connect entrepreneurs with investors, mentors and other stakeholders.
Bhamashah Startup Promotion Fund and Funds for Green Startups
As a part of the iStart initiative, the Government of Rajasthan has announced the Bhamashah Startup Promotion Fund of INR 500 crore, aimed at providing a diverse mix of funding for startups in the state. The fund has allocated INR 100 crore for women-led startups and INR 50 crore for green solutions startups.
The funding for green startups will be sourced from the Rajasthan State Pollution Control Board. The funding has a cap of INR 25 lakhs per startup. The funding amount will be based on the Qrate rankings, which are determined by the Qrate Assessment Framework. Startups will be ranked as Bronze and Silver (capped at INR 15 Lakhs), Gold and Platinum (capped at INR 20 Lakhs), and Signature (capped at INR 25 Lakhs). The fund will be provided in the form of loan and equity to startups registered in Rajasthan.
List of few Investors associated with iStart Rajasthan
- 50K Ventures
- 3one4 Capital
- advantEdge VC
- ah! Ventures
- Altius Ventures
- Prime Ventures partners
- Ankur Capital
- Anthill Ventures
- Artha Ventures
- Asian Healthcare fund
- Astarc Ventures
- Axilor Ventures
- Unicorn India Ventures
- Venture Catalysts
- The Angel Network
- Sequoia Capital
- Seed Fund
- Pi Ventures
- Mumbai Angels
- Indian Angel Networks
- Hyderabad Angels
In summary, iStart Rajasthan initiative provides a range of benefits and resources to entrepreneurs such as incubation centers, mentorship programs, seed funding, and networking opportunities, to help entrepreneurs in different stages of their business. The process to avail of the benefits is simple, where entrepreneurs have to register and submit required documents to access the resources and services provided by the initiative.