New Delhi, Feb 2 (PTI) Rules and regulations are being simplified in the Department of Science and Technology for providing liberal funding to innovative start-ups and issues like single-window clearance, speedy processing of projects, facilities for incubation and review of matching funding obligation by start-ups will soon be notified, Union minister Jitendra Singh said.

The Union Minister of State (Independent Charge) Science and Technology made the comments at the felicitation of the Beating Retreat Drone Light Show which had mesmerised the whole nation by lighting the sky with colourful tricolour at New Delhi on the evening of January 29.

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Singh directed senior officials to rope in industries to develop an integrated approach to create a kind of revolving fund to support the innovative start-ups.

The minister said rules and regulations are being simplified in the Department of Science and Technology (DST) for accessing liberal funding by innovative start ups.

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Singh said issues like Single Window Clearance, speedy processing of projects, facilities for incubation and review of matching funding obligation by start-ups will soon be notified for promotion of start-ups ecosystem in the country.

Referring to the Union Budget passed on Tuesday, Singh said the emphasis on drones including 'Drone Shakti' through start-ups and utilisation of Kisan Drones in the agriculture sector are steps to fulfill Prime Minister Narendra Modi's vision of making India a global hub of start-up ecosystem.

The minister informed that the Technology Development Board is examining two funding proposals received from Ladakh and North-East Start-Ups.

He said the liberal availability of funds is a precondition for sustainability of start-ups and for that industry must partner with Central Scientific Departments.

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