Each month, Startup Nations, a global network of public sector officials and policy advisors focused on stimulating new firm formation, brings you a summary of recent policy developments. Below are the updates since last month's post.
CITY POLICY DEVELOPMENTS
New fund for innovative startups in Curitiba
The City of Curitiba approved a new initiative to strengthen research and innovation, the Pinhão Valley Innovation Fund ('Inova VP'). This R$10 million fund, to be managed by the Curitiba Development Agency, will support innovation projects and scientific and technological research carried out by startups in Brazil’s eighth-largest city. The fund aligns with Mayor Rafael Greca’s technology promotion initiative.
Read more, here.
Moscow engages entrepreneurs to detect barriers and collaborate on solutions
The Startup Cafe networking events hosted by the Moscow Agency of Innovations is bringing together technology experts, investors, startup founders, and representatives of the local government. The main goal of this series of meetings is to source solutions that can transform the city's traditional development models. One of the major obstacles, according to the participants, is the red tape that entrepreneurs have to face when working with state organizations, reported the Moscow Agency of Innovations. As a potential solution, the participants called for joint pilot projects with the City and an easier path to the state procurement opportunities.
The Moscow Agency of Innovations, founded by the Department of Science, Industrial Policy and Entrepreneurship, is tasked to serve as a one-stop shop for the city's innovation ecosystem. According to its CEO, Alexey Parabuchev, the sharing of experience among different players is key in the development of innovative businesses.
Read more, here.
SUB-NATIONAL POLICY DEVELOPMENTS
Rajasthan seeks public comment on draft new startup and innovation policy
To help startups overcome the challenge of meeting traditional public procurement requirements, a draft new policy plans to nudge various departments in the State of Rajasthan to change their rules so that more startups can participate in public procurement. Atul Sharma, head of Rajasthan at the Federation of Indian Chambers of Commerce and Industry (FICCI), told Indian media that “the policy is progressive and forward looking but the key to success lies in effective implementation with meaningful stakeholder engagement.” The ultimate goal of this new policy framework is to create 2,000 ventures and one hundred thousand jobs in the state of Rajasthan. As part of these efforts, the draft proposes to further strenghten iStart as a single platform to facilitate interaction between all stakeholders.
The new draft Startup and Innovation Policy is a part of the Rajasthan Innovation Vision (RajIV), and was made available for public comments from stakeholders and members of the ecosystem until December 7, 2019.
Read more, here.
NATIONAL POLICY DEVELOPMENTS
Austria's 2019 startup initiative brought a package of policy tools
This year saw the launch of a new Startup Initiative in Austria, which included new measures to boost the country's venture capital market, an expanded guarantee program, a reduction of the administrative burden for startups via ‘regulatory sandboxes’ and new training formats for employees of startups. Florian Frauscher, Austria’s Director General at the Federal Ministry of Digital and Economic Affairs, reflected on his country's most recent entrepreneurship policies, in this recent interview.
Malaysia seeks to boost startups' access to international markets
Minister Datuk Seri Mohd Redzuan announced that the Ministry of Entrepreneur Development (MED) will launch a second edition of the Best Exporters Program (BEP) in 2020. A collaboration between three state agencies, the program offers funding as well as training by partner capacity building organizations. From the 73 companies that participated in the first edition of BEP, 43 were from the manufacturing sector and 30 were from the services sector.
Read more, here.
Paraguay enables Simplified Stock Companies
The Paraguayan Congress passed a law enabling the registration of new businesses as "Simplified Stock Companies", joining Argentina, Uruguay and other Latin American countries in streamlining the process for opening new enterprises. Unlike with the existing corporate legal figures in Paraguay, entrepreneurs will now be able to set up a Simplified Stock Company entirely via an online portal. Expected to come into force in 2020, the goal of this legislative effort is for the process of creating a new business to take no more than 72 hours, explained Vice Minister Isaac Godoy.
Read more, here (in Spanish).
For more policy news, please check the latest entries to the Startup Nations Atlas of Policies.