Davos 2023 | Govt to support the creation of startup hub in Mumbai, says CM Shinde

Maharashtra Chief Minister Eknath Shinde (Image: PTI/File)

The Maharashtra government will help create a startup hub in Mumbai, said chief minister Eknath Shinde on January 17, as the state attempts to attract and woo investors at full strength.

“We will incentivise incubation hubs and support innovative ideas for early-stage startups. We will also set up a support system for startups growing out of Maharashtra,” said Shinde in a special interview with Moneycontrol on the sidelines of The World Economic Forum 2023 annual meeting, held in the Swiss ski resort town Davos.

This comes months after over 30 prominent startup founders based out of Mumbai have come together to form an organisation to build a ‘brand Mumbai’ for startups, in a move to establish and nurture startup and entrepreneurship culture in the country’s financial capital.

The chief minister also believes that the effort towards creating a startup hub in Mumbai will help in employment generation for youth and hence, he said, the government completely supports it.

Shinde added the government’s agenda is that whichever industry comes to the state, they will provide ease, support, and subsidise them so they have a seamless experience in growing in Maharashtra.

This year, Maharashtra has set up a big pavilion in Davos to represent the state and attract investments at the WEF 2023. As many as 21 MoUs are to be signed with leading foreign investors and global companies during Shinde's two-day visit that began on January 16, according to a PTI report.

Also Read: Davos 2023 | Govt working on infra development in Mumbai to attract global investors says CM Shinde

Over the two days, Shinde said he will meet and present Maharashtra's policies and outlook to key political and government representatives from Luxembourg, Saudi Arabia, and Singapore, among others.

“Maharashtra has a huge potential. We have good infrastructure, skilled manpower, and land, among other things. The weather is great, and the atmosphere and connectivity are good. The government is pro-development, pro-industry, and pro-people that is why people want to come to the state,” said Shinde.

He reiterated that by collaborating with world leaders on the forum, the state will be able to boost development and generate employment using the latest technology.