Summary:
The state government had formed Maharashtra State Innovation Society, chaired by Minister for skill development Sambhaji Patil-Nilangekar. Government is also planning to take help from businesses for seed and angel funding for promoting start ups. Punjab, Odisha as well as Andhra Pradesh and Telangana already have such a start up policy to promote start ups in their states. The duration would be ten years for start ups in social sector and bio-technology sectors. As per the policy, start ups would receive 100 per cent waiver in stamp duty and registration for their first transaction and would have 50 per cent waiver for the second..