{"id":19594,"date":"2023-06-12T17:51:43","date_gmt":"2023-06-12T17:51:43","guid":{"rendered":"https:\/\/digitalbnc.com\/stylview\/?p=19594"},"modified":"2023-06-12T17:52:27","modified_gmt":"2023-06-12T17:52:27","slug":"what-is-startup-india-scheme","status":"publish","type":"post","link":"https:\/\/digitalbnc.com\/stylview\/what-is-startup-india-scheme\/","title":{"rendered":"What is startup India Scheme?"},"content":{"rendered":"\n

Startup India<\/a><\/strong> is a flagship initiative of the Government of India aimed at catalyzing the community of startups and creating a healthy and inclusive ecosystem for innovation and entrepreneurship in India. After the launch of the initiative on 16 January 2016, Startup India has launched many initiatives aimed at empowering entrepreneurs and turning India into a nation of job-creators instead of job-seekers.<\/p>\n\n\n\n

A Business will be regarded as a startup, under the updated statement that was issued on May 23, 2017, if it is incorporated in India as a private limited company (as defined in the Companies Act, 2013), registered as a partnership corporation (under Section 59 of the Partnership Act, 1932), or registered as a limited liability partnership (under the Limited Liability Partnership Act, 2008), and for ten years following the date of its incorporation\/registration.<\/p>\n\n\n\n

The broad scope of the Startup India programs is outlined in the Action Plan below and handled by the dedicated Startup India Team, which reports to the Department of Industrial Policy and Promotion (DPIIT<\/a><\/strong>).<\/p>\n\n\n\n

The 19-Point Action Plan calls for the following sources of start-up support, and more:<\/p>\n\n\n\n

1. <\/strong>Enhanced facilities including incubation centres
2. <\/strong>Facilitation of simpler IPR, including faster patent filing
3. The better<\/strong> regulatory environment, including tax advantages, simpler enforcement, improved business setting up, quicker exit mechanisms and more
4. <\/strong>Economic stimulus in the form of the INR 10,000 Crore Fund of Funds controlled by SIDBI, with the goal of growing funding opportunities.
5. <\/strong>The Startup India Portal, which provides a variety of useful tools and a comprehensive networking database for entrepreneurs and other stakeholders in the Startup ecosystem;
6. <\/strong>A toll-free helpline and fast e-mail query resolution for startups<\/p>\n\n\n\n

Definition of a Startup<\/a><\/h2>\n\n\n\n

Startup means an entity, incorporated and registered in India which fulfils the following conditions:<\/p>\n\n\n\n

1. <\/strong> The entity is in any of the following:<\/p>\n\n\n\n