Rajasthan plans to invest Rs. 500 Cr. in 500 startups by 2020

• Rajasthan the state known for its handicrafts and royal forts, is expected to announce its first ever Startup Policy under which it plans to set up about 500 startups by 2020 in the state.
• With the Startup Policy 2015, Rajasthan will soon become the first amongst India’s northern states to come out with a policy dedicated to tech startups.
• The Government of Rajasthan has already allocated Rs 55 crore from its own coffers to invest in startups over five years.
• Screening of startups will be done by partner organisations such as Indian Institute of Management Ahmedabad’s Centre for Innovation, Incubation & Entrepreneurship.
• Currently, the state boasts of venture-funded startups such as CarDekho and Culture Alley, besides a tech park in Jaipur with firms such as Infosys and Genpact. Ecommerce firms such as Amazon, Flipkart, Urban Ladder and PepperFry also source large amount of textiles and furniture from the state.

Source: Economic Times