Startup Definition (only for the purpose of Government schemes)
Startup means an entity, incorporated or registered in India :
- Not prior to five years,
- With annual turnover not exceeding INR 25 crore in any preceding financial year, and
- Working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property
Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence. Provided also that an entity shall cease to be a Startup if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 5 years from the date of incorporation/ registration. Provided further that a Startup shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.
Launching of Startup India Movement
Word of The Week
Annual Incubator Grand Challenge
This initiative will identify the incubators who have the potential to become world class. These incubators shall also become reference models for other incubators aspiring to offer best-in-class services. INR 10 crore shall be given as financial assistance which may be used for ramping up the quality of service at these incubators.
Who said what?
We are an electric vehicle manufacturing Startup focused on designing and selling premium electric two wheelers. However, understanding the policy changes related to charging infrastructure and arranging for the right funding was a big challenge for us. Startup India Hub helped us by providing clarity on the government policies and connecting to the government stakeholders for funding.
- Ather Energy
There is no dearth of innovative ideas. But only a few get touched by the light of realisation. For a 16-year-old student, son of a scrap dealer, organising necessary resources to create a computer prototype by re-assembling e-waste was a daunting task. The ordeals I faced made me take a step back. But Startup India changed the game for me completely.
- E-waste Recycling Product
I am a car mechanic from Sagar, Madhya Pradesh. I too had an innovative idea. I designed a car that runs through water and carbide and am working on building a kit which can enable the car to run on water. But my innovation required mentorship and further research which required government funding and support. Startup India handheld and guided me through my startup struggles.
- Hybrid Car
We are creating a globally scalable platform of physical spaces currently focused on Educators. Through our concept, we aim at providing ready-to-use spaces on hourly basis to teach, coach, practice, play, study and learn. After school hours, school spaces are provided on rent for skill development. Startup India helped guided us about the relevant funds and we are in process of raising fund for our Startup.
As a New York City born and raised individual who wanted to manufacture low-cost IoT sensors in India, I found it daunting initially to navigate the many vendors in the market and find trusted advisers. Startup India helped provide me the infrastructure to overcome these challenges so we could succeed.
- Yobi Tech
I finished the program today; very well laid out and thought out program and provided great insights into the critical areas and specially financial and pitching area. Thanks.
- Arabinda Chakraborty
Completed the course. The modules and delivery of the course have been extremely useful. The forum discussions have also been a great source of learning. My sincere thanks to all who put up tremendous effort to design and execute this course.
- Proloy Jyoti Naskar
Completed the programme. It was a great experience and knowledge building session.
- Kundan Singh