Startup India Scheme

The Startup India Scheme is launched by the 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

Toll-free number: 1800115565

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 pay tax for initial three years
• Freedom from Capital Gain Tax for 3 years
• The beneficiary will get 80% reduction in the 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:

1. Annual turnover (as defined in the Companies Act, 2013) in any preceding financial year must not exceed Rs. 25 crore
2. Startup must be working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property
3. The Startup must not be formed by splitting up, or reconstruction, of a business already in existence
4. 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 to customers or work-flow
5. Five years must not have elapsed from the date of incorporation/registration
6. 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:

1. The Startup must obtain certification from the Inter-Ministerial Board, set up by DIPP to validate the innovative nature of the business
2. 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
3. The beneficiary entrepreneur must have a patent granted by the Indian Patent and Trademark Office in areas affiliated with the nature of the business being promoted
4. Identity proof e.g. Aadhar card
5. Residence proof e.g. electricity bill
6. Other required technical document please visit Official Site: http://startupindia.gov.in

Whom to contact and where to contact:

1. Android app is also available on Android Google play store please visit this link- http://startupindia.gov.in/download-app.php
2. People can contact to the following address: Shri A. Lakshmanaswamy Research Officer Room No. 344A, Udyog Bhawan, New Delhi – 110011

Online registration for Startup India:

1. http://startupindia.gov.in/registration.php

References & details:

1. People can send email to this link – dipp-startups@nic.in