WHAT IS STARTUP INDIA?
Startup India is a flagship initiative of Government of India. It is envisioned to create a strong eco-system to promote and nurture entrepreneurship as well as generate employment opportunities in India.
STARTUP INDIA ACTION PLAN
Startup India Action Plan was announced to empower Startups through all aspects of Startup ecosystem. The initiative is divided across following objectives:
Under this plan, startups can avail regulatory benefits and tax exemptions along with funding support through fund of funds.
Under the aegis of PMMY, three products have been created by MUDRA – namely ‘Shishu’ (60% Share), Kishor and Tarun (40% share jointly). These Products cater to funding needs of units at various stages of growth/ development.
WHAT IS A STARTUP?
Startups that meet following criteria are eligible to apply for recognition under the program:
- – Up to 7 (seven) years from the date of incorporation / registration (Exception: 10 years for biotechnology startups).
- – Incorporated as Private Limited Company/ Registered Partnership Firm / Limited Liability Partnership.
- – Turnover should not exceed Rs 25 crore for any financial year.
- – Should not have been formed by splitting up or reconstruction of an existing business.
- – Should be working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
BENEFITS FOR STARTUPS
- 1. Application Process: The interested startups first need to incorporate business and obtain registration documents. Post business registration, a startup needs to fill an online application form and provide details of business along with all required documents. Post successful application and examination of documents provided, a recognition number will be generated for your startup. Click https://www.startupindia.gov.in/content/sih/en/startupgov/startup-recognition-page.html to follow the procedure
- 2. Self-Certification: The startups can self-certify themselves in accordance with 6 different types of labour laws. For self-certification, you may log on to Shram Suvidha Portal.
- 3. Startup India Learning Program: A 4-Week Free Online Program, which aims to help entrepreneurs through structured learning. For more details: https://www.startupindia.gov.in/content/sih/en/learning-and-development_v2.html
- 4.For Latest Updates:Visit https://www.startupindia.gov.in or https://www.startupindiahub.org.in
- 5. For Any Type of Query:You can either call on Toll Free Number 1800115565, write an email to email@example.com.