Policy Vision & Objectives

1 Policy Vision

Policy Vision

To make Goa one of the most preferred start-up destinations of India, and make it feature in the top 25 start-up destinations in Asia by 2025.

2 Objectives

Objectives

  1. To make Goa an aspirational geographical and human resources base for high value start-ups.

  2. To invite the best entrepreneurial minds to make Goa their professional base, and thereby build a robust start-up eco-system in the state.

  3. To provide assistance to the Goan entrepreneurs and local start-ups.

  4. To endeavour to create at least 100 successful start-ups in Goa in the next 5 years, targeting generation of employment for atleast 5000 Goans.

  5. To develop minimum 2,00,000 lakh sq. ft. area for technology innovation and incubation centers in the next 5 years.

  6. To infuse technology-enabled real-world problem-solving skills into the Goan education system through collaboration between industry, academia, and through the introduction of DIY modules as part of school curriculum, and Massive Online Open Courses as part of University curriculum.

  7. To create an eco-system that makes it easy for Goan students to acquire technical skills required for employability and professional growth in the start-up space.

  8. To ensure continuous evolution of policy measures and creation of a responsive policy framework for accelerating growth of the start-up ecosystem, and incorporating new frontiers of technology enablement on an ongoing basis.

  9. To facilitate creation of dedicated funds for providing various types of support and impetus to start-ups:

    1. Idea to P-o-C (Proof of Concept) Fund

    2. Seeds Capital Fund

    3. Working Capital Fund

    4. One-time Grant Fund

    5. Research and Development Fund

    6. Student Innovation Fund

    7. Skill Development Fund

3 Definition of Startup

Start-up means an entity meeting the following criterion:

  1. Up to seven years from the date of incorporation / registration in the State of Goa

  2. With annual turnover not exceeding INR 25 crore in any of the preceding financial years

  3. Working towards pure-play innovation, development, or improvement of products or services, powered by engineering or internet based software or technology.

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Start-up Promotion Cell

Serves as the nodal agency to register/recognise/certify, the start-ups established in the state. Secretary IT is the convenor of the cell. The cell would also engage professionals/agencies for the following functions, who would provide services to the start-ups on a shared services model, at notified rates:

  1. Management

  2. Human Resources

  3. Technical

  4. Legal

  5. Finance

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