Tripura Start-Up Policy 2024 to Ignite Innovation and Growth

Agartala: The Government of Tripura officially launched the Tripura Start-Up Policy 2024 on January 24, 2025, at Pragna Bhawan here in Agartala. Tripura’s Chief Minister Dr. Manik Saha inaugurated the policy in the presence of Finance Minister Pranajit Sinha Roy, IT Department Secretary Gitte Kirankumar Dinkarrao and Director Jeya Ragul Geshan B. The new policy, approved by the Council of Ministers, is designed to expand and strengthen the entrepreneurial ecosystem in Tripura, building on the foundation laid by the Tripura IT/ITeS Start-Up Policy 2019.

The 2019 policy, launched on October 25, 2019, was the state’s first initiative to promote IT and ITeS-based startups. It supported 26 IT-based startups over its five-year tenure, ending on March 31, 2024, and facilitated the disbursement of more than Rs 1 crore in incentives. Under the 2019 policy, the New Generation Innovation Network (NGIN) Scheme was also introduced to integrate technical institutions into the startup ecosystem, providing Rs 1.20 crore to eight institutions and funding 56 student projects.

Speaking at the launch event, Chief Minister Professor (Dr.) Manik Saha said, “Youth possess the drive and potential to thrive in the startup ecosystem. With the right support and guidance, they can turn their aspirations into reality. This policy aims to give them the tools and opportunities they need to succeed.”

“The Tripura Start-Up Policy 2024 will help aspiring entrepreneurs fulfil their dreams. This policy is not just about finding jobs; it’s about creating them. By empowering our youth, we are paving the way for Tripura’s growth and innovation,” Saha added.

During the event, the Chief Minister launched the Startup Tripura portal to streamline resources and provide critical information for budding entrepreneurs. A cheque of Rs. 75 lakh was handed over to the CEO of Agastya Edutech Private Limited (TalkEng) under the Tripura Start-Up Venture Capital Fund. Additionally, eligibility certificates were presented to I-Logitron Technologies Private Limited and X-Layer Technology Private Limited.

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Currently, 127 startups from Tripura are registered with the Department for Promotion of Industry and Internal Trade (DPIIT), including 26 recognized under the IT/ITeS Start-Up Policy 2019. The remaining 101 startups belong to non-IT sectors, highlighting the state’s entrepreneurial potential across various industries. Together, these startups have generated over 800 employment opportunities. The new policy aims to empower these ventures and attract more startups by offering robust financial support and incentives.

At the launch event, Chief Secretary J.K. Sinha praised the entrepreneurial drive of the state’s youth, saying, “The curiosity and innovation among Tripura’s youth are remarkable. In the past three years alone, 127 startups have been registered in the state. This policy will provide them with the support needed to turn their ideas into successful ventures.”

What’s New in the Tripura Start-Up Policy 2024?

The new Tripura Start-Up Policy 2024 takes a sector-agnostic approach, moving beyond IT to cater to diverse sectors, including e-commerce, healthcare, logistics, construction, handloom, horticulture, and agro-processing. Here are the highlights:

1. Seed Funding: Recognized startups will receive a one-time grant of Rs 2 lakhs.
2. Operational Support: Startups will receive Rs 20,000 per month for operational costs like electricity, rent, and internet for up to one year. Women-led startups will receive 10% more, and startups led by differently abled individuals will receive an additional 20%.
3. Prototype Assistance: Upon proof-of-concept approval, entrepreneurs can claim up to Rs 10 lakhs for developing prototypes, including manpower and raw material costs.
4. Marketing and Publicity Support: Up to Rs 5 lakhs will be provided to promote innovative products or services.
5. Patent Reimbursement: Startups will be reimbursed Rs 2 lakhs for Indian patents and up to Rs 10 lakhs for foreign patents.
6. Tax Benefits: GST paid in Tripura will be reimbursed under the Tripura Industrial Investment Promotion Incentive Scheme (TIIPIS), 2022.
7. Procurement Preferences: Recognized startups will receive a price preference of up to 15% in government tenders and are exempted from Earnest Money Deposit (EMD) and tender fees.

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Infrastructure and Financial Support Under Tripura Start-Up Policy 2024

The government is backing the policy with robust financial and infrastructural initiatives:

1. Infrastructure Development: A Rs 25 crore Tri-Infra Fund has been earmarked to develop physical and virtual facilities such as testing labs, design studios, and incubators.
2. Venture Capital Fund: A Rs 50 crore Venture Capital Fund, managed by SIDBI Venture Capital Ltd., has been set up to support high-potential startups. The fund offers investments ranging from Rs 25 lakhs to Rs 2 crores. The state government has contributed Rs 15 crore to this fund, which has already approved Rs 75 lakhs for Agatsya Edutech Private Limited (TalkEng). Additional startups under evaluation for funding include D&D Learning, Bamboowala, i-Logitron, and Kiwismedia Technologies Pvt. Ltd.
3. NGIN Scheme Expansion: The Tripura Start-Up Policy 2024 introduces significant infrastructure support through the New Generation Innovation Network (NGIN) scheme, under which technical institutions will receive Rs 10 lakhs each to establish incubation centres and Rs 5 lakhs annually for operational expenses. Additionally, Rs 5 lakhs will be allocated for up to five projects per institution annually to convert academic ideas into viable businesses.

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Meanwhile, the Tripura Start-Up Policy 2024 launch event also included the announcement of the Tripura Start-Up Spark Vans, set to begin its journey on January 27, 2025. “These vans will travel across the state, visiting colleges, markets, and public spaces to promote the policy and its benefits,” said Finance Minister Pranajit Sinha Roy.

“We aim to inspire young minds to step into sectors like IT, logistics, fisheries, handloom, and e-commerce,” he added.

The Tripura Start-Up Policy 2024 represents a significant departure from its predecessor, the IT/ITeS Start-Up Policy 2019, which was limited to the IT sector. The new policy is broader in scope, offering higher financial assistance, operational support, and sector-specific initiatives while introducing innovative outreach measures like the Start-Up Spark Vans. By providing increased incentives and infrastructure support, the policy seeks to create a conducive environment for innovation and entrepreneurship across the state.

The launch event on January 24, 2025, will be inaugurated by the Chief Minister and will see the participation of representatives from the Government of India, IT officials from various states, local dignitaries, young entrepreneurs, and college students. With a vision to promote innovation and position Tripura as a hub for high-tech and traditional industries, the policy is expected to foster over 800 new employment opportunities and bring the state closer to achieving its goal of becoming a Digital Tripura.

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