Shimla, Oct 15 (PTI) The Himachal Pradesh government on Wednesday said its new startup policy is expected to promote entrepreneurship and create a robust ecosystem for innovation in the state.

The Himachal Pradesh Housing and Urban Development Authority (HIMUDA) Startup and Student Innovation Policy will encourage youth towards entrepreneurship, said Urban and Town Planning Minister Rajesh Dharmani.

Chairing a review meeting of HIMUDA here, he said that a startup fund of Rs 25 lakh for one year has been allocated by HIMUDA and each eligible startup proposal will receive funding of up to Rs 5 lakh.

The primary objective of the policy is to create a robust ecosystem to promote innovation and startups in the state. This initiative is expected to accelerate economic growth and generate employment opportunities, playing a significant role in shaping a vibrant startup ecosystem in Himachal Pradesh, a statement issued here said.

Dharmani also emphasised that along with sustainable development goals, well-planned development projects are being promoted across the state.

He instructed HIMUDA officials to ensure timely completion of ongoing projects.

Highlighting the state's tourism potential, he informed that a tourism village will be developed in Narghota, Kangra district.

Besides, HIMUDA has been directed to explore opportunities for 'Spiritual Township' projects to further enhance tourism prospects in the state.

The minister also highlighted the government's efforts towards developing Himachal Pradesh as an IT hub, and asked his department to ensure that work on IT township projects should continue.

In Shimla, he reviewed the Mountain City project at Jathiya Devi, which is aimed at reducing congestion in the city.

Discussions were also held regarding real estate projects in collaboration with private partners.

HIMUDA has streamlined several long-standing non-functional posts, and to strengthen its operational framework, 46 new posts across different categories have been created. PTI BPL HVA