It has almost been a year that IT Policy and Start-up Policy were notified; but still not all IT companies are registered under the policies. Without registration, the companies can’t avail of benefits and subsidies promised to them and this has emerged as a major cause of concern.
Before we delve into the registration process however, we must realise that both IT Policy and Start-up Policy are really well written policy documents hailed by one and all in the industry. Through the policies, the State Government aims to provide subsidies to young IT companies, which may prove crucial for their very survival.
For example: there is a provision to give one time rebate to an IT company amounting to Rs 40,000 per male employee and Rs 50,000 per female employee up to 60% of the cost of land for creating IT office space. Similarly, there are subsidies for salaries, power and internet bills as well.
Such subsidies are really important for new IT companies, which typically start with shoestring budgets of the promoters. Most of them borrow money from families, relatives or friends to somehow start a company and then to remain afloat is another challenge.
In such a scenario, if the government steps in and provides them financial assistance through subsidies, it will be a really commendable move. However, for that to happen, the process of registration must happen fast.
There are 220 plus IT companies in Goa. Representatives of the industry admit that a lot of companies are not even aware of the benefits under the policies. Some of them are also anxious to provide details about their employees, business and etc to the government.
So, IT companies are also to be blamed to an extent for slower pace of registration. But, the State Government, through Department of IT, must make it a point to spread awareness about the policies through events, social media and other tools.
Recently, the government roped in the CEO of the Investment Promotion Board (IPB), Vishal Prakash, for certification of start-ups; a move which has been appreciated by the IT industry. By bringing in IPB along with Departmrnt of IT, the government has shown that it is very serious about the registration process.
Apart from subsidies, registration will also allow the government to have a holistic view of the state’s IT ecosystem, which will go a long way in policy formation in the future.
Goa Technology Association (GTA) has set itself a target of getting all IT companies and start-ups registered under the policies by June 30. If that happens, it will go a long way in getting all the IT stakeholders and the government on one platform.
