The Industries and Commerce Department, Haryana on 23rd July 2024, notified the Assistance in Acceleration Programs Scheme for startups registered under the Haryana State Startup Policy 2022.
Objective
The scheme aims to enhance the startup ecosystem in Haryana by offering support to startups to help them grow. It reflects the state’s proactive approach to improving ease of doing business and creating a world-class startup environment.
Quantum of Assistance
- Financial Support: Startups can receive up to INR 2.5 lakh per year for attending National Acceleration Programs.
- Program Participation: Startups can attend multiple programs within a financial year, but the total reimbursement will not exceed INR 2.5 lakh.
- Reimbursement: Fees paid towards the acceleration program will be reimbursed after the program’s completion. Prior approval is required before attending the program, as per Section 6 of the scheme document.
- Acceleration Program: A program that provides mentorship, pitching opportunities, networking, and may include a public pitch event or demo day.
- National Acceleration Program: An acceleration program conducted in India by an accelerator.
- Competent Institutions: The acceleration programs must be conducted by recognized institutions, which include:
- Incubators
- Angel Investors & Venture Capital (VC) Firms
- Academic Institutions
- Private/Institutional Accelerators
- Application Process: Startup entities need to apply online on the Department of Industries & Commerce’s web portal for in-principle approval at least 30 days before the commencement of the national acceleration program, using the format provided in Annexure – I.
- Fraud Prevention: If a startup entity is found to have claimed or availed assistance based on fabricated information or fraudulent activities, its registration will be revoked. The entity must refund the entire assistance amount along with compound interest at 12% per annum.
Scheme Duration: The scheme is effective from July 07, 2022, and will remain in operation for 5 years, until July 06, 2027. However, it may be discontinued, amended, or extended by the Government of Haryana.
