Maharashtra to launch ‘Innovation City’ similar to Gujarat’s GIFT City

MUMBAI : Maharashtra Chief Minister has announced the creation of an “Innovation City” to foster start-up growth and innovation-based industries, modelled after Gujarat’s GIFT City on National Start-Up Day. The new hub aims to nurture cutting-edge fields like AI and will solidify Maharashtra’s position as India’s start-up capital.

Furthermore, a dedicated ₹200 crore fund has been established to boost start-ups, with a special focus on Tier-2 and Tier-3 cities. Each revenue division will receive ₹30 crore to ensure widespread access to these resources. In addition, a new start-up policy is set to launch within two months, offering tax benefits, streamlined compliance processes, and expedited patent approvals, with public feedback invited to shape the final version.

With over 25,000 start-ups already established, Maharashtra continues to lead the country in both investment and start-up valuation, with cities like Mumbai, Pune, and Nagpur contributing significantly to the growth. The state is also focusing on women-led ventures and transforming ITIs into AI innovation centres.