The Startup Manipur program, launched by the Government of Manipur, aims to drive sustainable economic growth and create substantial employment opportunities in the state. The initiative, under the Manipur Startup Policy 2018, is designed to foster a thriving ecosystem for technology-based startups and promote entrepreneurship and innovation. The program encourages young entrepreneurs to become job creators, with the goal of supporting 1,000 startups in the state by August 14, 2022.
Scheme Key Highlights (Short Summary)
• Launched by: Government of Manipur
• Objective: To develop a supportive ecosystem for startups in the state by providing mentoring, infrastructure, and funding opportunities
• Goal: Empower youth, create 1000 startups, and promote entrepreneurship
• Duration: Ongoing as part of the Manipur Startup Policy 2018
• Support: Mentorship, incubation, funding options, regulatory assistance, and more
Benefits
1. Support for Incubators and Accelerators
• Strengthening existing incubators to provide robust support for startups
• Encouraging new incubators through private-sector partnerships
2. Support for Startups
• Mentoring, training, capacity building, and networking opportunities
• Regulatory support for easy statutory clearances
• Infrastructural support for rapid startup growth
• Funding platforms providing access to grants, loans, and fiscal incentives
3. Financial Support
• Support in obtaining loans, grants, and equity investment after successful incubation
4. Creation of a Supportive Ecosystem
• A stronger startup culture through social recognition and branding
• Enabling mechanisms for training, knowledge sharing, and capacity building
• Establishment of a formal ecosystem for accelerated growth
Eligibility
1. General Eligibility
• Promoters must be domiciled in Manipur. At least one promoter should have domicile status in Manipur if it’s a group startup
• The owner of the startup must be above 18 years of age
• Completion of incubation is mandatory to avail the support under the program
2. Exclusions
• Non-Manipur residents cannot promote or own startups under the scheme
• Minors (below 18 years of age) cannot apply
• Startups that fail to complete incubation by the notified date will not be eligible
Application Process
Online
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Step 1: Submit an online application on the Manipur Startup Portal
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Step 2: Document review by experts for feasibility and completeness
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Step 3: Personal interview for further discussions on the business idea
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Step 4: Review by bank for financial stability and loan eligibility
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Step 5: Bootcamp/incubation program for mentorship and training
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Step 6: Funding disbursement after successful incubation, provided in the form of loans, grants, or equity
Documents Required
• Permanent Account Number (PAN) card
• Aadhaar card
• PAN card for the business entity
• Business Registration Certificate
• Audited balance sheet for the previous financial year
• Income Tax Return (ITR) for the previous financial year
• Audited Profit and Loss statement for the previous financial year
Frequently Asked Questions (FAQs)
Q: What is a Startup?
A: A startup is a newly established business venture aiming to meet market needs with innovative solutions.
Q: How to get recognized as a Startup under the Manipur Startup Cell?
A: Submit an application on the Manipur Startup Portal, along with the required documents.
Q: What documents are needed for applying for a revenue-stage startup?
A: Documents such as PAN card, Aadhaar card, business registration, and financial statements are required.
Q: What is the nature of the disbursement?
A: Funding is typically provided in the form of loan or equity investment, depending on the startup’s stage and needs.