Maharashtra is preparing to launch a new ‘Startup and Innovation Policy’ aimed at empowering grassroots entrepreneurs and traditional businesses. The state is building this policy in collaboration with senior official Pravin Pardeshi and top scientist Dr. Raghunath Mashelkar. The main goal is to support people from the ground up and formalise small-scale innovations through real-world business experience.
The policy focuses on registering 5 lakh young people, including ITI students, 10th-pass individuals, and Vishwakarma scheme beneficiaries, as “pre-innovators.” These participants will be eligible for interest-subsidised loans ranging from Rs 5 lakh to Rs 10 lakh without collateral. The idea is to let them test and grow their business ideas while learning on the job.
Hands-On Business Experience
Officials say many new entrepreneurs fail because they lack practical business knowledge. This new model ensures each participant starts with hands-on training before moving ahead. After one year, the state will conduct a simple aptitude test, and 1 lakh candidates will graduate to the next phase as ‘innovators.’
These selected innovators will receive guidance in finance, marketing, and technology from district-level expert panels. By the third year, around 25,000 participants are expected to become registered startups, ready to receive funding from government or private sources.
Boost for Traditional Sectors
Besides supporting startups, the policy also plans to modernise traditional family businesses such as those in agriculture, dairy, handicrafts, and small manufacturing. These enterprises will get help transitioning into scalable and competitive ventures.
To enable this, the government will establish innovation hubs and micro incubators at the district level, along with new Innovation Centres in every ITI. This infrastructure aims to turn old businesses into modern enterprises using new-age tools and training.
New Support Schemes
The Chief Minister’s Innovator Scheme will offer loans with a 50% interest subsidy and one-year repayment relaxation. Unlike many earlier policies, the money will be sent directly to financial institutions, not individuals, for transparency.
Industry partners will get tax benefits, help with training expenses, and access to ITI campuses for exhibitions and job fairs. They can also collaborate with Maharashtra Skill University to run training programs tailored to local industry needs.
ITIs Get a Makeover
Skill Development Minister Mangal Prabhat Lodha confirmed that ITIs will now offer new courses and facilities such as electric vehicles, drones, 3D printers, and solar tools. Teacher training will be revamped too. “Some teachers haven’t been trained in 35 years. That will change,” Lodha said.
To tackle falling student interest, six new courses tailored to local industries will be introduced. Short-term and trending courses will also be launched to attract more young learners. “This is not just a startup plan. It’s about jobs, skill-building, and real business,” Lodha added.
Top 10 Mumbai Startups
While Maharashtra gears up for this major policy shift, Mumbai already plays home to several successful startups such as Zepto, Pepperfry, PharmEasy, Nykaa, Upstox, CredAble, Lenskart’s tech wing, CleverTap, Bombay Shaving Company, and Dream11. These startups serve as proof of the potential that lies in supporting entrepreneurs from the very beginning.
With this new policy, the state hopes to inspire the next generation of founders from across Maharashtra, even from the smallest towns.
