7 key takeaway from Startup INDIA launch Event

Major Announcements made on 16th Jan 2016 which will “EASE UP “ things for Startup in INDIA.

 

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  • Ease of Registration – App & Portal: 
    Starting April 1, 2016 a dedicated app and a website enabling startup’s to register company in less than 24 hours. This platform portal will allow startup to participate in all schemes launched under “Startup India Action Plan” and would be single point of contact for clearances, approvals and registrations.
  • Ease of Certification: 
    Facility of Self certification for compliance on labor and environment laws which can be uploaded directly on Startup India App. Going ahead, there will be no inspection for 3 years from labor dept.
  • Ease of Funding:  
    New dedicated fund with initial corpus of INR . 2,500 crore and a total corpus of INR 10,000 crore over a period of four years, managed by a board of private professionals. The fund will contribute in SEBI registered venture funds, and will cover sectors as manufacturing, agriculture, health, & education. National Credit Guarantee Trust Company (NCGTC)/SIDBI will provide credit guarantee upto INR 500 /annum to help startup raise debt from Banks
  • Ease in tax on Income (3 year holiday):
    Startups( Registered on- after 1st April 2016) will be exempted from income-tax & capital gain tax for a period of three years subject to non-distribution of dividend.
  • Ease of supply to Govt. units:
    The Central Government, State Government and PSUs will exempt from the criteria of “prior experience/ turnover” for “ MADE IN INDIA” products creating demand from manufacturing units set by startups .
  • Ease in Winding Up:
    Option to wind up business in 90 days and it has already been included in recently tabled .
  • Ease on Patent Fees:80% Rebate on fees related to Design, Trademarks, Patent Filling would be provided by Govt.  as a measure to encourage Creation & Protection of IP .
  • Nurturing talent /Promoting entrepreneurship skills at early stage:
    • Multiple sector specific incubators and 500’Tinkering Labs under the Atal Innovation Mission to promote entrepreneurship, provide pre-incubation training and a seed funding to promising startups.
    • Ten incubators centre would be provided with INR 10 crore assistance for Infra – development .
    • At school level Top 100 innovative idea’s would be presented at annual event  president house and top 10 would be awarded INR 20 Lakh each
    • “ UCHHATTAR AVISHKAR YOJANA “ with budget of INR 250 crore/annum  to promote research among  IIT students.

{ Image Courtesy : http://www.elanthemag.com 

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4 thoughts on “7 key takeaway from Startup INDIA launch Event

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