By Firstdespatch Desk Jan 24, 2025
Agartala, Jan 24 (FD) Tripura Chief Minister Dr. Manik Saha on Friday Chief Minister underlined the pivotal role startups play in building a “Viksit Bharat” and urged entrepreneurs to leverage the opportunities provided by the new policy.
He said this in a programme of the Directorate of Information Technology, which has officially launched the Tripura Startup Policy 2024, marking a significant milestone in the state's efforts to promote innovation and entrepreneurship.
Saha emphasized the government’s commitment to nurturing an ecosystem that encourages innovation, creates employment opportunities, and contributes to the economic growth of the state. Hon’ble IT Minister Pranajit Singha Roy highlighted the importance of this policy in attracting investments and urged entrepreneurs to actively engage with the initiatives rolled out by the government.
The launch event, held at Pragna Bhavan in Agartala, was attended by Hon’ble Chief Minister Prof. Dr. Manik Saha, Hon’ble IT Minister Pranajit Singha Roy, Chief Secretary Jitendra Kumar Sinha, IT Secretary Kiran Gitte, Director IT Jeya Ragul Geshan B.
Snapshot of proposed fiscal incentives in “Tripura Start-Up Policy-2024” are as:
i. Tri-Seed Funding: All recognized Start-Ups will be eligible for one time Grant of Rs.2 Lakhs after receiving Recognition certificate.
ii. Start-Up Operational Cost reimbursement: Reimbursement of Rs.20,000/- per month will be provided to the recognized Start-Up for the expenses incurred for operational and management of the entity such as electricity bill, rent, internet bandwidth cost etc. for a period of maximum One (1) year from the issue date of Start- Up recognition certificate. Women led Start-Ups will be eligible for additional 10% amount as reimbursement. Physically Challenged Person led Start-Ups will be eligible for additional 20% amount as reimbursement.
iii. Financial Assistance during Prototype Stage: Need-based assistance up to Rs.10 lakhs will be provided to who has been recognized and certified Startup for hiring of manpower, cost of raw material / components and other related equipment required for the innovative process for the new product development after approval of Proof of Concept (PoC) by State Level Start-Up Council.
iv. Marketing/Publicity assistance: Up to Rs.5 lakhs will be provided for the introduction of innovated product/ service in the market. Reimbursement of Taxes: GST paid in Tripura by the Startup companies shall be reimbursed as per the Tripura Industrial Investment Promotion Incentive Scheme (TIIPIS), 2022. 
v. Reimbursement of Patent filing: The cost of filing and prosecution of patent application will be reimbursed to the incubated start-up companies subject to a limit of Rs.2 lakh per Indian patent awarded. For foreign patents on a single subject matter, up to Rs.10 lakhs would be reimbursed.
vi. Grant to institutes under NGIN initiatives: A grant of Rs.10 Lakhs to setup Incubation centre in the selected institutions will be provided. Each Host Educational Institute will get a funding of Rs.5 Lakhs per year as operational cost for the incubation centre. Each institute will receive maximum Rs.5 Lakhs for maximum of 5 projects each year.
vii. Tri-Infra Fund A Tri-Infra Fund (Startup Capital Infrastructure fund) with an initial corpus of Rs.25 crores shall be setup to support development of hard and soft infrastructure for the startup ecosystem in the State such as physical infrastructure for incubators including testing labs, design studio, tool rooms, virtual incubators etc.
viii. Tripura Venture Capital: Venture Capital fund with corpus fund of Rs.50 Cr has been created. Ticket size of the funding to the potential Start-up would be Rs.25 Lakhs to Rs.2 Crore.
As part of the program, the Hon’ble Chief Minister handed over a cheque of ₹75 lakh to TalkEng (Agastya), a local edutech startup, from the Tripura Startup Venture Capital Fund. Additionally, the Hon’ble Chief Minister presented eligibility certificates to ILogitron Technologies pvt. Ltd and Xlayer Technologies Pvt. ltd, 2 nos companies recognized under the Tripura IT/ITeS Policy. Also, A dedicated Startup Tripura web portal was also launched during the event to provide startups with easy access to resources, support, and information. To further raise awareness about the policy and its benefits, the government flagged off Startup Spark Vans, which will tour all districts of Tripura to engage with aspiring entrepreneurs and promote the initiatives under the policy. The event also featured an exhibition where dignitaries explored innovative products and services developed by Tripura- based startups, showcasing the state’s growing entrepreneurial talent. With the launch of the Tripura Startup Policy 2024 by the Hon’ble Chief Minister, the Government of Tripura envisions a transformative shift in the state’s entrepreneurial landscape. The policy aims to inspire young innovators, foster the growth of startups, and create numerous employment opportunities, paving the way for a brighter and more prosperous future for the state. Directorate of Information Technology has informed this through a Press Release today.