This is being done to keep up with the changing needs of the fast-evolving startup ecosystem in the state.

Scores of incentives are being added to the new version the larger aim is to attract more investment so that local economies may get a boost besides creating new jobs.

The draft of the new policy has been given a final shape by the state’s Department of IT and Electronics, and will soon be sent to the cabinet for approval.

Officials said the new draft would also be shared with players who attend the Global Investors Summit 2023.

One of the most striking features of the proposed policy involves addition of new sectors, adoption of concept of circular economy, promoting use of solar energy and addressing climate change are also interesting elements that will create a long-term impact on environmental concerns.

The new policy has also increased the target of setting up of centres of excellence from existing three to 10.

Experts are of the view that this will help in nurturing the culture of innovation at the senior secondary and undergraduate levels.

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