Startup Ecosystem facilitated through various government departments & programs
- 4000+ Startups have benefitted in the last year through various programs of the Central Govt.
- 960 crore of funding has been enabled to Startups through various schemes
- 828 Cr sanctioned funds for infrastructure
With the objective to build a strong eco-system for nurturing innovation and Startups in the country the Government launched a Startup India Action Plan that offers the following support to recognized supports through:
- IT exemptions for 3 years
- Capital gains exemption to people investing such capital gains in the Govt. recognized Fund of Funds
- Tax exemption on investments above Fair Market Value
Legal Support in Patent Filing
- Fast track of Startup Patent applications
- Panel of facilitators to assist in filing applications, govt. bears facilitation costs:423 facilitators for patent & design,596 for trademark applications
- 80% rebate in filing of patents:377 startups benefitted
Easy Compliance:Self-certification and compliance of 9 environments and labour laws through Startup India web portal/mobile app. Online self-certification for Labour.
Laws enabled through ‘Shram Suvidha’ portal
Relaxed Norms for Public Procurement:By easing the requirement of prior experience and prior turnover in tenders for application by startups
Fund of Funds:
- ₹ 10,000 Cr. Fund of Funds to be provided by Mar 2025: Avg. ₹ 1,100 Cr. Per year
- Operating guidelines has changed to incorporate the following:
- 2x of FFS to DIPP Startups
- Allow funding of entity after ceasing to be startup (under DIPP)
- 600 Cr (+25Cr Interest) given by DIPP to SIDBI which further committed Rs 623 Cr to 17 VC. 56 Cr has been disbursed to 72 startups catalyzing investments of Rs 245 Cr
Credit Guarantee Scheme for Start-Ups
- Corpus of ₹ 2,000 Cr across 3 years
- Collateral Free, Fund & Non-Fund Based Credit Support
- Loans of up to 5 Cr. per Startup to be covered
- Status: EFC Memo circulated on 22 March 2017 to 6 Dept’s
- Impact: Credit guarantee to benefit 7,500+ Startups in 3 years
Industry/Academia Support:Providing and building infrastructure across the country by setting/scaling up: 31 Innovation Centers, 15 Startup centers, 15 Technology Business Incubators, 7 Research Parks, 500 Atal Tinkering Labs.
Startup Recognition:6398 Applications received; 4127 startups recognized; 1900 startups eligible for tax exemption (900 processed, 1000 pending); 69 startups given tax exemption.