Two startups from Jalandhar have been awarded seed funding under the Punjab government's startup promotion initiative. The funding was announced during the Startup Punjab Seed Funding programme held at the Municipal Bhawan in Chandigarh.
Startups and Their Focus Areas
Startup mentor and company secretary CS Gaurav Thakur, who was present at the event, congratulated both startups. He revealed that one startup is working in the field of Indian video-sharing platforms, while the other is driving innovation in science education by developing modern learning solutions for students.
Thakur, who mentors both startups, emphasized that they achieved this milestone through their innovative ideas, strong business models, and dedicated efforts.
Importance of Mentorship and Support
Thakur highlighted that proper mentorship, investment readiness, regulatory compliance, and access to government support schemes are crucial for startup success. The seed funding from the Punjab government enables aspiring entrepreneurs to turn their ideas into successful businesses.
Increased Seed Grant Assistance
Thakur further informed that the Punjab government has increased the seed grant assistance for startups from Rs 3 lakh to Rs 5 lakh. Additionally, eligible startups meeting prescribed criteria can receive up to Rs 10 lakh in extra support during the second phase, helping them scale operations and generate employment.
Government Initiatives Promoting Innovation
Appreciating the efforts of the Punjab government and Startup Punjab, Thakur said such initiatives play a significant role in promoting innovation, entrepreneurship, and self-reliance across the state.
