Gandhinagar, Nov 4 — The Gujarat government has launched a Rs 10-crore 'Growth Fund' to support technology-based start-ups, offering grants of up to Rs 30 lakh to early-stage ventures and equity-linked convertible funding of up to Rs two crore to those at an advanced stage of development.
The fund was launched by Science and Technology Minister Arjun Modhwadia at the Gujarat Innovation and Technopreneurship (GInTech) Conclave 2026, organised by the Savli Technology and Business Incubator (STBI) in Gandhinagar on Wednesday.
Under the scheme, start-ups with a Technology Readiness Level (TRL) of up to Level 4 will be eligible for grants of up to Rs 30 lakh for proof of concept, technology validation, trials and other related development activities.
Those at TRL-5 and above will be eligible for equity-linked convertible funding of up to Rs two crore per start-up.
The assistance will cover requirements such as pilot manufacturing, technology demonstration, pivoting and market-oriented development.
Addressing the conclave, Modhwadia said around 2.6 lakh start-ups had been registered across the country, with Gujarat accounting for an estimated 18,000 to 20,000 active ventures.
"The state government had introduced specific policies to help young entrepreneurs take their ideas from the conceptual stage to production," he noted.
He also pointed to a shift in the aspirations of young people, who were increasingly choosing to establish businesses and generate employment rather than solely seeking government or corporate jobs.
"The new scheme would provide technology-based start-ups with financial support to take innovations from laboratories to the market," he said.
Modhwadia also highlighted Gujarat's performance on the national start-up platform and the state's efforts to develop innovations aligned with global requirements.
He urged stakeholders to make use of government policies, scientific infrastructure and technology-focused platforms, adding that strategic global partnerships could help increase the sector's growth.
The conclave also saw the announcement of eight regional Innovation Cells of STBI across six zones of Gujarat.
Other initiatives included a cohort-based acceleration platform, the "Atmanirbhar Gujarat Fellows" programme and measures to promote shadow internships.
The STBI also signed memorandums of understanding (MoUs) with nationally recognised accelerator agencies as part of efforts to strengthen the state's start-up support network.
STBI Director Dr Anand Bhadalkar and representatives from the start-up ecosystem, industry, investment firms, incubators, accelerators and other institutions attended the conclave.