Gandhinagar: The Gujarat government has launched a Rs 10-crore 'Growth Fund' to support technology-based start-ups, offering grants of up to Rs 30 lakh to early-stage ventures and equity-linked convertible funding of up to Rs two crore to those at an advanced stage of development, IANS reported. The fund was launched by Science and Technology Minister Arjun Modhwadia at the Gujarat Innovation and Technopreneurship (GInTech) Conclave 2026, organised by the Savli Technology and Business Incubator (STBI) in Gandhinagar on Wednesday.

Source: IANS via hi INDiA

Under the scheme, start-ups with a Technology Readiness Level (TRL) of up to Level 4 will be eligible for grants of up to Rs 30 lakh for proof of concept, technology validation, trials and other related development activities. Those at TRL-5 and above will be eligible for equity-linked convertible funding of up to Rs two crore per start-up. The assistance will cover requirements such as pilot manufacturing, technology demonstration, pivoting and market-oriented development.

Rs 10 croreGrowth Fund size
Rs 30 lakhMaximum grant, TRL up to 4
Rs 2 croreMaximum funding per start-up, TRL-5 and above
18,000-20,000Active start-ups in Gujarat, per the minister

Addressing the conclave, Modhwadia said around 2.6 lakh start-ups had been registered across the country, with Gujarat accounting for an estimated 18,000 to 20,000 active ventures. He said the state government had introduced specific policies to help young entrepreneurs take their ideas from the conceptual stage to production, and that the new scheme would provide technology-based start-ups with financial support to take innovations 'from laboratories to the market'. He also pointed to a shift in the aspirations of young people, who were increasingly choosing to establish businesses and generate employment rather than solely seeking government or corporate jobs.

The conclave also saw the announcement of eight regional Innovation Cells of STBI across six zones of Gujarat. Other initiatives included a cohort-based acceleration platform, the 'Atmanirbhar Gujarat Fellows' programme and measures to promote shadow internships. STBI also signed memorandums of understanding with nationally recognised accelerator agencies to strengthen the state's start-up support network. STBI Director Dr Anand Bhadalkar and representatives from the start-up ecosystem, industry, investment firms, incubators and accelerators attended the conclave.

Modhwadia highlighted Gujarat's performance on the national start-up platform and the state's efforts to develop innovations aligned with global requirements, and urged stakeholders to make use of government policies, scientific infrastructure and technology-focused platforms, adding that strategic global partnerships could help increase the sector's growth. Application timelines for the Growth Fund were not announced in the reports of the launch.