Start Up India
Startup India is an initiative of the Government of India, intended to catalyse startup culture and create a powerful and non-exclusive ecosystem for innovation and entrepreneurship in India.
About Start Up India
A startup company (startup or start-up) is an entrepreneurial enterprise which is typically an arising, promoting business that intent to solves an unmet need by developing a practicable business model around an creative product, service, processor a stage. A startup is usually a company designed to adequately expand and verify a scalable business model. Start-ups may have high rates of failure, but the majority of successes includes companies that have become large and aothoriative. The Action Plan envisages the following forms of support for Startups, and more:
- Emphasized infrastructure including improvement centres.
- Easier IPR facilitation, including simple patent filing.
- A good managerial environment includes tax benefits, easy compliance, developed of setting up a company, faster escape mechanisms and more.
- An economic stimulus in the form an INR 10,000 crore Fund of Funds controlled by SIDBI, with the objective of expanding funding opportunities.
Benefits Of Start Up India
- Single Window Clearance even with the aid of mobile application
- 10,000 crore funds of funds
- Decline in patent registration fee
- Alteration and more friendly Bankruptcy code to assure 90-day exit window
- Freedom from atypical inspection for 3 years
- Free from capital gain tax for 3 years
- Liberty from tax in profits for 3 years
- Self- certification compliance
- Start with 5 lakh schools to target 10 lakh children for creative program
- New schemes to provide IPR protection to start-ups and new firms
- Encourage entrepreneurship
- Stand India across the world as start-up hub