The Startup India Scheme is launched by central government under the leadership of Prime Minister Shree Narendra Modi. The main objective of this scheme is to encourage the entrepreneurship and job creation by promoting bank financing for start-up ventures and The Standup India initiative is also aimed at promoting entrepreneurship among SCs/STs, women communities. Start Up India” is a revolutionary scheme that has been started to help the people who wish to start their own business. These people have ideas and capability, so the government will give them support to make sure they can implement their ideas and grow. Success of this scheme will eventually make India, a better economy and a strong nation.
Benefits of Startup India Scheme
- The Startup India Scheme will encourage youth to promote their idea by providing financial assistance.
- Freedom from tax in profits for 3 years beneficiary entrepreneur need not to pay tax for initial three year.
- Freedom from Capital Gain Tax for 3 years.
- Beneficiary will get 80% reduction in patent registration fee.
- Single Window Clearance even with the help of a mobile application.
- Easy exit policy.
- Special Arrangement will be there for Female applicants.
- A self certification system will be launched.
- Innovation school will be started for students.
Eligibility for getting benefits of Startup India Scheme
- Annual turnover (as defined in the Companies Act, 2013) in any preceding financial year must not exceed Rs. 25 crore.
- Startup must be working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property
- The Startup must not be formed by splitting up, or reconstruction, of a business already in existence
- The Startup must aim to develop and commercialize:
a) a new product or service or process.
b) a significantly improved existing product or service or process that will create or add value for customers or work-flow.
- Five years must not have elapsed from the date of incorporation/registration.
- It must be an entity registered Private Limited Company under the Companies Act,2013 or Registered Partnership firm under the Indian Partnership Act, 1932 or Limited Liability Partnership under the Limited Liability Partnership Act, 2008.
Document required for applying Startup India Scheme
- The Startup must obtain certification from the Inter-Ministerial Board, setup by DIPP to validate the innovative nature of the business.
- Be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an incubator established in a post-graduate college in India.
- Beneficiary entrepreneur must have a patent granted by the Indian Patent and Trademark Office in areas affiliated with the nature of business being promoted.
- Identity proof e.g. Aadhar card
- Residence proof e.g. electricity bill.
- Other required technical document please visit official Site-http://startupindia.gov.in
Whom to contact and where to contact
- Android app is also available on android Google playstore please visit this link- http://startupindia.gov.in/download-app.php
- People can contact to following address
Shri A. Lakshmanaswamy
Room No. 344A, Udyog Bhawan,
New Delhi – 110011
Online registration for Startup India
References & details
- People can contact to toll free number – 1800115565
- People can send email to this link – firstname.lastname@example.org