Gandhinagar: Gujarat govt on Wednesday launched a Rs 10 crore growth fund to help technology startups take their innovations from laboratories to the market, offering grants of up to Rs 30 lakh to early-stage ventures and equity-linked convertible funding of up to Rs 2 crore to advanced startups.The fund was launched by state science and technology minister Arjun Modhwadia at Gujarat Innovation and Technopreneurship (GInTech) Conclave 2026, organised in Gandhinagar.Under the scheme, startups at Technology Readiness Level (TRL) 4 and below will be eligible for grants of up to Rs 30 lakh for proof-of-concept development, technology validation, trials and related activities. Ventures at TRL 5 and above can access up to Rs 2 crore in equity-linked convertible funding for pilot manufacturing, technology demonstration, pivoting and market-oriented development.Addressing the conclave, Modhwadia said India had around 2.6 lakh registered startups, of which an estimated 20,000 were active in Gujarat. This, he said, reflected the state’s growing position in India’s startup ecosystem.The minister said the changing aspirations of young people were driving entrepreneurship, with an increasing number choosing to build businesses around their ideas rather than seeking conventional govt or corporate jobs. Startups were also creating employment opportunities for others, he added.The growth fund is aimed at addressing the financial requirements of technology ventures at different stages of development, enabling them to move beyond the proof-of-concept stage towards commercialisation and scale-up, an official statement said.
