TS government invites State-based startups for second batch of incentives

The eligible startups can leverage incentives under performance grant, patent expenditure reimbursement, SGST reimbursement and recruitment assistance.

Hyderabad: The Government of Telangana recently handed over incentives under
innovation policy to 11 startups who have justified the eligibility criteria and necessary documentary evidence. The applications for the second batch of incentives are now open.

As part of the first batch of incentives, 67 applications have been received from 32 startups under four categories- performance grant,reimbursement of patent expenditure, SGST reimbursement, and recruitment assistance, out of which 17 applications have been sanctioned to 11 startups.

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The startups received the incentives from chief secretary to Telangana Government Somesh Kumar, along with Jayesh Ranjan, principal secretary to IT & IC, Government of Telangana.

Ravi Narayan, chief innovation officer of TSIC and CEO of T-Hub, said,“Telangana is a startup State and we have moved further in helping startups in a sector-specific manner. This is an outcome of not just providing the mentorship and facilitating connections to investors, but we are now in the stage of providing the funding support under State incentives.”

“Going forward, we hope to have many other financial and monetary benefits rolled out that can be availed by the startups, for which I call out all the eligible startups to apply for the next batch of incentives to leverage the support being extended,” he added.

Eligible startups can apply for the second batch of incentives at www.startup.telangana.gov.in

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