Mumbai, Aug 5 (PTI) The Maharashtra cabinet on Tuesday approved a policy that aims to nurture 1.25 lakh entrepreneurs and recognise 50,000 startups over a period of five years, to make the state India’s most vibrant and future-ready startup destination.
The Maharashtra Startup, Entrepreneurship and Innovation Policy 2025, formulated by the Department of Skills, Employment, Entrepreneurship and Innovation (SEEID) and implemented by the Maharashtra State Innovation Society (MSInS), will create a globally competitive ecosystem rooted in inclusivity, innovation, and economic resilience, an official release stated.
The focus spans across emerging technology sectors and underserved communities — urban, rural, women-led, and youth-led enterprises alike.
Chief Minister Devendra Fadnavis said, “This is more than just a policy — it’s a commitment to turn Maharashtra into a national and global hotspot for innovation-driven entrepreneurship and would help the state to achieve its target of becoming a trillion-dollar economy. This would complement the state’s overall efforts to create a world-class infrastructure and catalyse its growth.” State Skills Development Minister Mangal Prabhat Lodha pointed out that a key component of the policy is the creation of the Chief Minister’s Maha-Fund, a Rs 500 crore initiative to support 25,000 early-stage entrepreneurs from a pool of five lakh youth.
They will be selected after a rigorous three-stage process and provided mentoring, incubation, and financial assistance.
To strengthen infrastructure, the government will establish micro-incubators in ITIs, polytechnics, and academic institutions, along with dedicated regional innovation and entrepreneurship hubs in each division.
These hubs will focus on high-potential sectors such as AI, Deeptech, FinTech, MedTech, Cybersecurity, and Sustainability.
Maharashtra Innovation City — a 300-acre facility — will serve as a convergence zone for startups, corporates, academia, and government, offering collaborative research and innovation space.
Startups selected through the Maharashtra Startup Week will have the opportunity to work directly with government departments and receive pilot work orders of up to Rs 25 lakh, the release stated.
The policy ensures financial reimbursements for patent filings, product quality certifications, and participation in domestic and international exhibitions, it said.
Startups with confirmed work orders from credible clients, including public agencies, will also be eligible for loan assistance under a dedicated mechanism facilitated through financial institutions.
To ensure smooth delivery and inter-departmental coordination, the policy introduces a governance framework anchored by a general body chaired by the chief minister and a governing council responsible for implementation.
Each state department will earmark 0.5 per cent of its annual outlay to promote innovation and entrepreneurship.
As per the release, all schemes will be channelled through MSInS, which will serve as the apex body for innovation and entrepreneurship-related activities in the state.
The department had organised several stakeholder consultations involving citizens, startups, academic institutions, incubators, investors, and subject experts. Their feedback directly influenced the design of key initiatives, including regional incubation support, improved mentorship access, simplified incentive processes, and mechanisms for enhancing digital literacy and entrepreneurial skill development.
Manisha Verma, additional chief secretary of SEEID, said that the policy is informed by extensive stakeholder engagement.
With more than 30,000 DPIIT-recognised startups, Maharashtra already leads India’s startup landscape. The 2025 policy seeks not just to accelerate this momentum but to expand it meaningfully, she said.
“By providing an online mentoring platform, data repository for AI innovation, simplifying access to financial and technical support, creating a venture fund and dedicated regional hubs for innovation with sector-specific focus — it is truly a bold and progressive policy with social inclusion,” the statement noted.
With the CM chairing its governing board and representation of all major departments, there will be much-needed cohesive strategic thinking and policy alignment, which will make the state a preferred destination for investors and innovators, Verma said. PTI MR ARU
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