‘Innovation Mission Punjab’ (IMPunjab) Launched

Chief Minister of Punjab, Amarinder Singh, launched ‘Innovation Mission Punjab’ (IMPunjab) on September 1, 2021.

Highlights

• IMPunjab is a public-private partnership mission that will bring in global investors and experts to catalyze start-ups.
• This Mission will boost the growth potential of Punjab and create a thriving economy by means of generating jobs and inviting investment.
• It will also mobilise a global pool of ambassadors and partners to attract investment, mentorship and market access.
• It will leverage the strength of Punjabi diaspora and allow them to partake in the renewed growth story of Punjab apart from running focused programmes to encourage entrepreneurship among women.
• Mission will act as a catalyst towards strengthening the growth by rallying all the stakeholders like incubators, academia, investors, startups, progressive farmers, government, sports people, media, industry and corporate.
• It is a unique ‘public-private partnership Project’ that will be championed by private sector and a strong government backing.

Punjab- an entrepreneurial state

Punjab is an entrepreneurial State, having a strong footprint of entrepreneurs worldwide as well as in India. The state has a burgeoning entrepreneurial ecosystem comprising of 450 start-ups and 20 plus incubators.

Partners in the project

The Department of Agriculture, Industries & Commerce, Mandi Board and Startup Punjab are the partners in this mission. They are providing over Rs. 30 crores in cash and kind. It also includes:

1. Operating expenses for the first three years,
2. 10-year rent-free lease for 12,000 square feet at Kalkat Bhavan and
3. support to start-ups & incubators in Punjab.

Three pillars of Mission

Mission stands on three pillars:

1. Pollinator
2. Create a network of virtual incubators and
3. Organising events like bootcamps, ideathons and pitch days in order to create a vibrant start-up ecosystem.

Month: Current Affairs - September, 2021