Facilities for New Start-Ups

Startup India Initiative was launched on 16th January 2016. The Startup India Action Plan with 19 Action Points intends to build a strong eco-system for nurturing innovation and startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Action Plan is divided across the following areas:

      1. Simplification and Handholding
      2. Funding Support and Incentives
      3. Industry- Academia Partnership and Incubation

The incentives being provided to startups under Startup India initiative to overcome their initial hurdles are given below:

 

  1. Self-Certification under 6 Labour Laws & 3 Environmental Laws
  2. Relaxations in Public Procurement Norms
  3. Faster exit under the Bankruptcy Code
  4. Rebates on Patent & Trademark filing fees, support from facilitators and expedited examination of Patent application
  5. Income Tax exemption under Section 80 IAC of Income Tax Act
  6. Exemption from Income Tax on investments received above fair market value under clause (ii) of the proviso to clause (viib) of sub-section (2) of section 56 of the Income Tax Act
  7. Funding support under the Fund of Funds for startups
  8. Guidance and facilitation support from Startup India Hub

 

The details of Startups founded all over country is not compiled, however, various initiatives undertaken under Startup India initiative have resulted in increase in recognition of Startups by DPIIT since the launch of the initiative as under: