Overview

• The Maharashtra cabinet approved the Startup, Entrepreneurship and Innovation Policy 2025 on August 5 with a goal to foster 125,000 entrepreneurs and recognize 50,000 startups over the next five years.
• A governance framework chaired by Chief Minister Devendra Fadnavis and administered by the Maharashtra State Innovation Society is being set up with each department earmarking 0.5% of its budget for innovation.
• The Rs 500 crore Chief Minister’s Maha-Fund is being operationalized to back 25,000 early-stage entrepreneurs selected through a three-stage process with mentoring, incubation and financial assistance.
• MSInS is finalizing budget allocations and preparing to select its inaugural cohort of entrepreneurs from a pool of 500,000 youth.
• Infrastructure measures include establishing micro-incubators in ITIs and colleges, regional innovation hubs in every division and a 300-acre Maharashtra Innovation City for collaborative research.