Chandigarh, 09 June (H.S.): In a major push to strengthen Punjab’s startup ecosystem and encourage youth-led entrepreneurship, Chief Minister Bhagwant Singh Mann on Tuesday distributed Seed Grants worth ₹1.07 crore to 31 startups under the Startup Punjab initiative. The financial assistance is aimed at helping young entrepreneurs transform innovative ideas into sustainable businesses and generate employment opportunities within the state.

Addressing entrepreneurs during the Startup Punjab Seed Distribution function, the Chief Minister described startups as a key driver of Punjab’s future economic growth and reiterated the government’s commitment to ensuring that promising business ideas do not fail due to a lack of financial support. He said Punjab’s youth possess immense talent and entrepreneurial spirit, and the government is determined to provide them with the resources needed to succeed.

Under the Punjab Startup & Industrial Policy 2026, the Seed Grant assistance has been increased from ₹3 lakh to ₹5 lakh. As part of the latest distribution, seven startups received grants of ₹5 lakh each, while 24 startups were awarded ₹3 lakh each. The beneficiaries represent diverse sectors including agriculture, artificial intelligence, technology, governance, textiles and manufacturing.

Bhagwant Mann said the initiative is designed to reduce the financial burden faced by entrepreneurs during the early stages of their ventures, when many innovative ideas often struggle to secure funding. He expressed confidence that the supported startups would create new employment opportunities and contribute significantly to Punjab’s economic development.

The Chief Minister emphasized that the government wants young people to become job creators rather than job seekers. He noted that the long-term objective is to build a robust innovation ecosystem where startups launched in Punjab can grow into nationally and globally competitive enterprises. He also highlighted the importance of universities and educational institutions as centres of innovation that can nurture entrepreneurship and transform ideas into successful businesses.

The initiative is also expected to help address youth migration by creating attractive opportunities within Punjab. Mann said the government envisions a future where successful entrepreneurs not only emerge from Punjab but also choose to establish and expand their businesses in the state, generating jobs and wealth for local communities. With increased policy support and financial assistance, Punjab is positioning itself as a growing hub for innovation, startups and enterprise-driven growth.

Cabinet Minister Aman Arora, Vice Chairperson of Punjab Development Commission Seema Bansal, Chief Secretary KAP Sinha and several other dignitaries were present on the occasion.

Hindusthan Samachar / GURSHARAN SINGH