Mumbai, Aug 5 (IANS) The Maharashtra Cabinet chaired by Chief Minister Devendra Fadnavis on Tuesday approved the Startup, Entrepreneurship and Innovation Policy, 2025.
The new policy, formulated by the Department of Skills, Employment, Entrepreneurship and Innovation (SEEID) and implemented by the Maharashtra State Innovation Society (MSInS), lays the foundation for positioning Maharashtra as India’s most vibrant and future-ready startup destination.
“The policy sets an ambitious five-year vision: To nurture 1.25 lakh entrepreneurs and recognise 50,000 startups. It also aims to create a globally-competitive ecosystem rooted in inclusivity, innovation, and economic resilience.
“The focus spans across emerging technology sectors and underserved communities — urban, rural, women-led, and youth-led enterprises alike,” said the government release.
“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 a trillion-dollar economy. This would complement the state’s overall efforts to create a world-class infrastructure and catalyse its growth,” said CM Fadnavis.
Minister for Department of Skills, Employment, Entrepreneurship and Innovation, 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 5 lakh youth.
They will be selected after a rigorous 3-stage process and provided with 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. In parallel, 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,” he said.
According to the Policy, 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.
Further, the policy ensures financial reimbursements for patent filings, product quality certifications, and participation in domestic and international exhibitions. 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, said the government release.
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 for promoting innovation and entrepreneurship. All schemes will be channeled through Maharashtra State Innovation Society (MSInS), which will serve as the apex body for innovation and entrepreneurship related activities in the state.
The Department of Skills, Employment, Entrepreneurship and Innovation additional chief secretary Manisha Verma said that 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.
“By providing online mentoring platform,datarepository for AI innovation, simplifying access to financial and technical support, creating venture fund and dedicated regional hubs for innovation with sector specific focus, it is truly a bold and progressive policy with social inclusion.
“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,” she said.
She further stated that the policy is not just about incentives. It’s a clear step towards building meaningful solutions and supporting the innovators who create them.
Maharashtra is committed to leading this effort, she asserted.
–IANS
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