MATRIX Initiative Set to Transform Maharashtra's Startup Landscape

Maharashtra's MATRIX initiative aims to bolster technology startups by expanding incubation facilities. It plans to establish 200 centers supporting 10,000 startups and attracting Rs 1 lakh crore in investments. Emphasizing inclusivity, the scheme allocates 10% capacity for minority-led ventures and seeks to grow high-tech industries statewide.

The Maharashtra government has unveiled its ambitious MATRIX initiative, designed to catapult technology-driven startups through the expansion of incubation facilities. The state aims to enhance early-stage entrepreneurship by providing affordable workspaces, expert mentorship, and easier access to funding.

The Industries, Energy and Labour Department issued a comprehensive Government Resolution on Thursday, highlighting the establishment of 200 incubation centers spanning 15 lakh square feet. These facilities are projected to support at least 10,000 startups over five years, with a goal of attracting Rs 1 lakh crore in investments.

The MATRIX scheme is poised to generate significant economic benefits by creating around one lakh jobs and fostering a strong entrepreneurial ecosystem. The initiative focuses on inclusivity, reserving 10% of incubation capacity for minority and women-led startups, and aims to position Maharashtra as a hub for next-generation industries.

(With inputs from agencies.)