Assam clears Rs 397-Cr Startup Policy with venture fund of up to Rs 10 Cr

Guwahati, Nov 10: In a significant push towards entrepreneurship, education and sports, the Assam Cabinet approved a series of key decisions, including the Assam Startup and Innovation Policy 2025–30, the establishment of Su-Ka-Pha University in Charaideo district, and reforms in the Career Advancement Scheme (CAS) for college teachers and librarians.

Announcing the decisions after the Cabinet meeting held at Lok Sewa Bhawan on Sunday, Chief Minister Himanta Biswa Sarma said the new startup policy aims to "transform Assam into one of India’s leading innovation and entrepreneurship hubs over the next five years".

“Under the Assam Startup and Innovation Policy 2025–30, startups will get robust support from ideation to funding. We will offer an ideation grant of up to Rs 10 lakh, prototype development grants up to Rs 25 lakh, technological startups up to Rs 40 lakh, seed funding up to Rs 50 lakh and a capital venture fund of up to Rs 10 crore,” Sarma said.

The Chief Minister said the policy carries a total financial implication of Rs 397 crore and will play a pivotal role in building a vibrant startup ecosystem in the state.

In another major decision, the Cabinet approved the establishment of Su-Ka-Pha University, preferably in Charaideo district, to promote quality higher education in Upper Assam.

“The Su-Ka-Pha University in Charaideo will contribute immensely to the state’s higher education landscape,” Sarma said.

He informed that the institute will be developed as a greenfield university, meaning it will be built entirely from the ground up rather than through the up-gradation of an existing college.

The Cabinet also approved long-awaited reforms under the Career Advancement Scheme (CAS) for assistant professors and librarians of government and autonomous colleges.

Under the new decision, promotions will now take effect from the first date of eligibility rather than the date of notification, a change welcomed by the teaching fraternity.

“The Cabinet has approved the determination of the date of effect of promotion under CAS for assistant professors and librarians. For their next promotion, seniority will be counted from the first date of eligibility,” the Chief Minister said.

“The Assam College Teachers’ Association (ACTA) had proposed this demand, and today the Cabinet has fulfilled it," he added. 

In recognition of sports excellence, the Cabinet also announced a cash reward of Rs 25 lakh to cricketer Uma Chetry for her exceptional performance in the recent Women’s World Cup.

“We are happy to announce Rs 25 lakh prize money for Uma Chetry for her outstanding contribution to Indian women’s cricket,” Sarma said.