Save the dates! Magnetic Maharashtra Summit on 18th February to 20th February, the first ever global investment summit will happen in MMRDA grounds, Bandra Kurla Complex in Mumbai to encourage domestic manufacturing.
At the press conference held on 6th January 2018, Maharashtra Chief Minister Shri Devendra Phadnavis announced Magnetic Maharashtra Summit under tagline #Made for Business to exhibit Maharashtra’s contribution and its potential for further industrial growth.
Magnetic Maharashtra is designed for Employment, Sustainability, infrastructure and Future Industries.
Honourable Chief Minister Devendra Phadnavis said
“With our maiden global investment summit, we aim to strengthen Maharashtra’s position as the gateway for all industrial investments in India where the best minds, industries, and government machineries converge to co-create.” “We are focussing on building a ‘future-ready’ state that features consistently in the top destinations in the world for industrial innovation and smart manufacturing.”
The highlight of Magnetic Maharashtra summit is the competition judged by the respected jury “‘Magnetic Maharashtra Start-Up’s under 30.” The Winner of ‘The top 3 start-ups’ will get a cash prize of Rs 50 lakhs, the first runner-up will get Rs 30 lakhs and the second runner-up 20 lakhs respectively.
The summit will be inaugurated by the Prime Minister of India Narendra Modi. The summit also proposes to invite people from the corporate world, political leaders, and higher officials from state and governments.
On the occasion Maharashtra Industries Minister said
“Today, Maharashtra contributes 15% to National GDP and is estimated to grow at 9.4% in the current fiscal. Manufacturing, which is the driving force of Make in India, contributes 21.43% to the state’s Gross State Domestic Product (GSDP). We have attracted 45.24% of the total Foreign Direct Investment (FDI) received by the country in the first-half of the fiscal. Maharashtra worldwide is recognized as the finance and entertainment capital of India. With Magnetic Maharashtra, we are truly on the path of making Maharashtra also the trade and manufacturing capital of India.”
The good news for the start-ups do not end here
The Maharashtra government approved its State Innovation and Start-up policy on Wednesday to encourage innovative ideas and start-up culture.
The policy aims to grow 10,000 start-ups in five years. The plan has an investment of Rs 5,000 crore for the start-up sector by 2022 and will create 5, 00,000 direct and indirect job opportunities.
The Maharashtra government approved its State Innovation and Start-up policy on Wednesday to encourage innovative ideas and start-up culture. The policy aims to grow 10,000 start-ups in five years. The plan has an investment of Rs 5,000 crore for the start-up sector by 2022 and will create 5, 00,000 direct and indirect job opportunities.
The official from industry department said that the policy has a plan of setting up at least 15 incubation centers for start-ups in Maharashtra. (Incubators are the people who help start-up in their initial phase with better plans, guidance, and execution) Further, the plan will scale up to 35 incubation centers to establish an ecosystem for the start-up companies. These incubators will be developed in partnership with public and private sectors.
The industry department official further said “Maharashtra’s strong credentials as the leading industrialized state, especially the service industry and manufacturing, and availability of skilled human resource will complement the start-up ecosystem,”
As per the policy definition, a start-up is a company or organization registered in the last five years based on an innovative approach and with an annual turnover of up to Rs 25 crore. The incubators will be set for 12 high demand sectors such as construction, production, healthcare, banking, finance, insurance, pharmaceutical, agro-processing, IT and biotechnology.
Further details of the summit and the registration process can be found http://www.midcindia.org/convergence2018/registration
Check further details on Startup culture in India
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