Institutional support refers to the support to the entrepreneurs by different types of institutions. It also refers to formulate policies provide support regulate and facilitate to develop manufacturing and service enterprises with the help of many institutions. The environment and the institutional setup are considered to be exerting direct influence on entrepreneurship. The support system and institutional setup would include Entrepreneurship Development Organizations, Financial Institutions, Industrial development organizations and different Govt agencies engaged in the implementation of the Government sponsored development programmes. The Indian government has been supporting and developing Entrepreneurship & Entrepreneurs through various sponsored programmes and Schemes.

Mostly in India this institutional support system has been designed at following levels:

1. Central Government
2. State Government
3. Non-Government Support System

Following is a brief description about the Institutional support system and Govt. Programs available for the Startup entrepreneurs in the state of Rajasthan-

• Start-up India Program
• Stand-up India Program
• Make-in-India Program
• Atal Innovation Mission
• Support to Training and Employment for Women (STEP)
• Digital India Program
• Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
• Science for Equity Empowerment and Development (SEED)
• Mudra Loan Schemes
• We would just focus on the following Institutional support system:
• Department of Science and Technology

Institutional support: Govt of Rajasthan Initiative:

Rajasthan Startup Policy 2015: Today, Rajasthan is counted amongst the ‘hottest’ junctions for entrepreneurs, incubators and even other sectors such as Bollywood, artisans, craftsmen and more. Due to initiatives such as the state’s Startup Policy, to E-governance, to several other digitization schemes – the Rajasthan government is currently leading in the charts to emerge as the number two state in the country in ease of doing business index after Uttarakhand. Unveiled in October 2015, the policy has been formed with a focus on areas like social and cleantech – rural infrastructure & services, crafts, water, sanitation, renewable energy and healthcare, including asset-light models of healthcare delivery, and medical devices.

Rajasthan State Industrial Development and Investment Corporation (RIICO): It is a a state government agency, has developed 322 industrial areas in Rajasthan. These industrial areas are provided with water, power, roads, shops and telecommunication facilities. Services provided by RIICO to investors and entrepreneurs include: site selection and acquisition of land, financial assistance to small, medium, and large scale projects, equity participation in large projects on merit, technical consultancy for project identification and tie-up escort services, facilitation of government clearances, merchant banking and financial tie-ups, extending incentives and concessions according to the policy of state government and Department of Industries.

Rajasthan Financial Corporation (RFC): It was constituted under a notification of the State Government dated 17 January, 1955 under the SFCs Act, 1951, for providing long term financial support to tiny, small and medium scale industries in the State of Rajasthan. Since, its very inception, the Rajasthan Financial Corporation has been striving incessantly towards its goal - that is of extending a helping hand to varied entrepreneurial section of the society for their financial requirements. A Goal, ultimately aimed at spurring up the process of industrialization of its parent State.

Question to Consider: 

1. Discuss briefly the Institutional support system and Govt. Programs.