Describing startups as a key pillar of Punjab's future economic growth, Chief Minister Bhagwant Mann on Tuesday said his government is committed to ensuring that no promising idea is abandoned due to a lack of financial support.
Mann distributed seed grants worth Rs 1.07 crore to 31 startups and their founders, asserting that Punjab's next generation of successful entrepreneurs should not only come from the state but also build their companies in the state, creating jobs and wealth within the region.
Under the Punjab Startup and Industrial Policy 2026, seed grant assistance has been increased from Rs 3 lakh to Rs 5 lakh, with seven startups receiving grants of Rs 5 lakh each and 24 receiving Rs 3 lakh each.
He expressed confidence that these ventures would create thousands of employment opportunities and help reduce the need for youth to move abroad in search of jobs.
Emphasising that innovation has become a defining feature of governance in Punjab, Mann said initiatives such as free electricity, daytime power supply to farmers and several other reforms have demonstrated how new ideas can deliver direct benefits to people.
He said that with sustained support for entrepreneurship, innovation and enterprise, Punjab is firmly on the path to becoming the startup hub of India.
Addressing a gathering during an event here, Mann said, "Today is a historic day for Punjab's industry, especially for our young entrepreneurs who are beginning their business journey with innovative ideas and a spirit of innovation".
Drawing a parallel between entrepreneurship and politics, he said, "the AAP itself was born from an idea at a time when dynastic politics dominated the country, and the common man had been sidelined. In many ways, AAP was also a startup that cleaned the political system with its symbol of the broom".
Highlighting the entrepreneurial spirit in Punjab, Mann said, "Punjabis are renowned across the world for their hard work, determination and enterprise. Inspired by the same spirit, our youth are launching new ventures and creating opportunities. They are not merely running businesses, they are shaping the future of Punjab".
Citing examples of entrepreneurs with Punjabi roots, Mann said many successful companies in India and across the world have been founded or co-founded by Punjabis.
Companies such as Zomato, Ola and Flipkart are examples of how Punjabis have proven their capability globally, he said.
Underscoring the importance of innovation ecosystems, the chief minister said, "The purpose of seed money is to reduce the early burden on startups and give them confidence to build, test and scale their ideas".
Recalling his visits abroad, Mann said, "At Pangyo Techno Valley in South Korea, we saw how a planned innovation ecosystem can transform an entire region. The model demonstrated that when the ecosystem is designed properly, ideas can become global companies".
"Similarly, during my visit to the World Horti Centre in the Netherlands, I witnessed how innovation can transform agriculture and horticulture through testing, demonstration and commercialisation of new technologies."
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
