Startup india programme
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The Startup India program was announced on August 15, 2015 with the motto of "Creating Creators" to address issues like India's low ranking in ease of doing business and complex tax structure. It aims to support startups, defined as entities less than 5 years old with annual turnover under 25 crore rupees. Key reforms include a 10,000 crore fund to support startups over 5 years and establishing innovation hubs at universities. While India has potential to become a global startup leader, an inter-ministerial body must validate startups to receive benefits based on eligibility criteria like incubator support or patent registration.
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Startup india programme
- 1. Startup India Programe Mohit Chauhan 9802309547
- 2. Announced on 15th Aug. 2015 motto – Creating Creators
- 3. Why ??? • 130th rank in ease of doing business.(world bank) • License raj • Complex tax structure • Home to maximum number of youth. • Need of growth.
- 4. What is a startup??? it is an entity which is • Headquartered in India. • Opened less than 5 yr. ago. • Annual turnover less than 25cr.
- 5. Reforms … • 10,000 cr. Funds of fund: corpus over 5 years, managed by private professionals of top industries, LIC is co-invester • Innovation hub: 75 startup support hubs in NITs, IIITs, IISERs, 7 new research parks in IITs and IISc with the help of ministry of human resource development and department of science and technology.
- 6. Potential • World’s youngest startup nation. • Kerala based startup village aims to launch 1000 startups over next 10 years. also started online learning platform for first time founders.
- 7. But devil lies in details • Govt. body to decide whether any enterprise is startup or not. Inter ministerial body led by DIPP( department of industrial policy and promotion) to validate startups. • Eligibility criteria to get benefits :- be supported by an incubator established in a PG college in India. supported by incubator recognized or funded by GoI. Be funded by GoI for promotion of any innovation. Have a patent registered with Indian patent and trademark office.