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Startups in Goa

From Wikipedia - Reading time: 4 min

Making a pitch, startups at the GIZ Techathon for startups and others, May 2018.

Startups in Goa refer to businesses being generated out of technology innovation and incubation centers operational or planned in Goa. Being a small, holiday-oriented state on the west coast of India, and a former Portuguese colony which attracts recent settlers, the start-up ecosystem in Goa has drawn some attention due to its differences from the rest of the country.[1][2][3] While startups in the region have gained some momentum in recent years, there has been concerns raised about shortcomings faced by the same.

Government policy and 2020 proposed policy[edit]

Upcoming events announced at the 91Springboard co-working location in Panjim. May 2018.

The Goa of Goa launched its startup policy on April 28, 2018.[4] This policy promises creating "at least 100 successful startups" in five years time, which it claimed would generate jobs for 5,000, and develop "a minimum 2,00,000 lakh sq ft area for technology innovation and incubation centers" in the same period.[4]

In July 2020, media reports locally noted that the Goa start-up policy was "set to lapse" in 2020, and the state had started working on "a revamped policy that will address regulatory bottlenecks and enhance funding avenues for startups."[5]

Issues and challenges faced[edit]

There have also been hints of issues facing start-ups in Goa, including over infrastructure, ease (or lack of ease) of doing business, and the state's ability to build a corruption-free environment. Some in the field have pointed to the need for "reliable internet providers in the state, who offer good internet speeds at reasonable prices".[6] Members of the Goa IT Professionals (GITP), a group of IT experts many of whom trace their roots or education to the local region of Goa but who have had to work outside the region due to a lack of sufficient opportunity here, have also raised concerns. This has emerged on the GITP WhatsApp discussion groups or in its press statements. The GITP has called for a quick implementation of official promises.[7] While Goa has been praised for being "among the handful of states to have achieved 100 percent rural electrification and boasts one of the best models of broadband penetration in the country", there have been concerns voiced about both efficiency of electrical supply[8] and Net access[9] and also Internet accessibility especially in areas away from the larger towns and urban areas.[10]

Incubator at Verna[edit]

Other initiatives have meanwhile also been taken up. The Verna-based Centre for Innovation and Business Acceleration or CIBA is "a technology business incubator based in Goa and Mumbai supporting and nurturing startup companies by providing services such as incubation, modern office spaces, mentoring, networking opportunities, seed funding and rapid prototyping" [11] CIBA says it "creates a creative, innovative and a friendly startup culture to host future ready enterprises."[12]

References[edit]

  1. ^ "Goa woos new businesses to become startup hub as it goes beyond beaches". Moneycontrol. 12 January 2024. Retrieved 6 March 2024.
  2. ^ "HDFC Bank commits Rs 99 lakh to assist Goan startups". The Times of India. 23 January 2024. ISSN 0971-8257. Retrieved 6 March 2024.
  3. ^ Soni, Yatti (31 December 2019). "The Emerging Startups Of Goa That Are Thriving Despite Lack Of Private Investments". Inc42 Media. Retrieved 6 March 2024.
  4. ^ a b "Union Minister Suresh Prabhu Launches Goa Startup Policy". Inc42 Media. 28 April 2018. Retrieved 23 June 2018.
  5. ^ "New startup policy for Goa on anvil". The Times of India. 3 July 2020. Retrieved 20 October 2020.
  6. ^ "Goa Is Going Cashless Effective December 31, 2016; Would Become India's First Cashless State!". Trak.in - Indian Business of Tech, Mobile & Startups. 30 November 2016. Retrieved 20 October 2020.
  7. ^ Sequeira, Newton (13 August 2020). "Goa's IT stakeholders welcome telecom policy, call for quick implementation". The Times of India. Retrieved 20 October 2020.
  8. ^ "'Power cuts, surges in South Goa due to delayed repairs on K'taka supply lines'". oHeraldo. Retrieved 6 March 2024.
  9. ^ "New supply project set to resolve South power woes". The Times of India. 20 August 2020. Retrieved 21 October 2020.
  10. ^ Sequeira, Newton (19 October 2020). "Goa: Family ties internet router to tree for son's online classes". The Times of India. Retrieved 21 October 2020.
  11. ^ "CIBA | Entrepreneurship in Goa | Startups in Goa | Innovation". www.ciba.org.in. Retrieved 22 June 2018.
  12. ^ "CIBA | Incubation centre in Goa | Entrepreneurship in goa". www.ciba.org.in. Retrieved 22 June 2018.

External links[edit]

Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Startups_in_Goa
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