“TiE Bhubaneswar suggests allowance for the start-ups”

Bhubaneswar: The outbreak of novel corona virus, COVID 19, has put a halt to our daily lives across the world. In India also the humanity, society and the Industry are undergoing through an unprecedented situation and challenging times.

In the discussion of Inter – Ministerial Committee with Industry Associations of Odisha, Deboo Patnaik, President, TiE Odisha said, “Government of India has declared lockdown to maintain social distancing and to protect public health, which has come up with very adverse situations for the entrepreneurs of the state with operations shutdown and the worst hit are the start-ups, this needs to be addressed very proactively so that the start-ups sustain themselves this phase.

TiE Bhubaneswar has sent a proposal suggesting the state Government to provide support to the start-ups during COVID 19, which would help the start-ups sustain this bad phase

● For quick liquidity Provide monthly allowance of Rs.20, 000/- to all the start-ups registered with Start-up Odisha for one year starting from April 2020 irrespective of whether they have received similar allowance earlier or not.
● Rental and Electricity charge waiver/ Reimbursement for 6 months.
● Interest free soft loans up to 15 lacs for 2 years with equity convertible option.
● All outstanding Govt. payment to be released by 1st May 2020 for the start-ups.
● 30% preferential purchase from start-ups on all Govt. procurement.