The Government of Haryana has notified the Reimbursement for Cloud Storage Scheme on July 23rd , 2024, to support startup entrepreneurs in the state. Key points of the scheme include:
In a significant move to bolster the startup ecosystem, the Government of Haryana has introduced the Reimbursement for Cloud Storage Scheme on July 23rd, 2024. This scheme is designed to provide substantial support to startup entrepreneurs across the state, helping them reduce operational costs and focus on innovation and growth.
Proactive Support for Startups
This new scheme is part of the broader Haryana State Startup Policy 2022, reflecting the state government’s commitment to establishing a world-class startup ecosystem. The policy is geared towards creating a conducive environment for startups by facilitating ease of doing business and positioning Haryana as a prime investment destination.
Key Features of the Reimbursement for Cloud Storage Scheme
1. Substantial Financial Support: Eligible startups in Haryana can receive a 75% reimbursement for expenses incurred on cloud computing and storage services sourced from Haryana-based data centers. This significant financial aid aims to ease the burden of high operational costs, enabling startups to allocate more resources towards innovation and development.
2. Generous Reimbursement Cap: The maximum reimbursement amount is set at an impressive INR 2.5 Lakhs per startup per annum. This cap ensures that even substantial cloud storage expenses can be largely covered, providing startups with the financial flexibility they need to scale their operations.
3. Long-Term Support: The scheme offers support for a period of five years, providing startups with sustained financial assistance. This long-term commitment from the government is crucial for startups that are often in need of consistent support to navigate the early stages of their growth.
Eligibility and Application Process
To qualify for the scheme, startups must meet the following criteria:
- They should have incurred expenses on hosting services between July 07, 2022, and July 06, 2027.
- Applications for reimbursement can be submitted annually, ensuring that startups can plan their finances and reimbursement claims effectively.
The scheme is effective from the date of notification of the Haryana State Startup Policy 2022 (July 07, 2022) and will remain operational for five years or until the government decides to amend, extend, or discontinue it.
Impact on Haryana’s Startup Ecosystem
By covering a large portion of cloud storage costs, this scheme helps startups reduce their operational expenses significantly. This financial relief allows startups to invest more in innovation, research, and development, which are crucial for their success and growth. Moreover, the scheme underscores Haryana’s commitment to fostering a supportive and thriving startup environment, encouraging more entrepreneurs to set up their ventures in the state.
