3. Start Up India
• Start up India.
• Prime Minister Mr. Narendra Modi announced bunch of benefits and
schemes to promote start-up ecosystem in India. The event was called
‘Startup India, Stand up India’. It has immense importance because, for
starters, it was the first of its kind dialogue between India’s startup
community and the government.
4. Launch
The event was inaugurated on 16 January 2016 by the finance minister
Arun Jaitley. Among the attendees were around 40 top CEOs and startup
founders and investors from Silicon Valley as special guests including
Masayoshi Son, CEO of Soft Bank, Kunal Bahl, founder Snaa, Travis
Kalanick, founder of Uber, Adam Nuemann, CEO of WeWork, Sachin
Bansal, founder of Flipkart and others.
5. What is standup India
• The Union government has approved a groundbreaking scheme called
'Stand Up India' dedicated to women and the members of scheduled
castes (SC) and scheduled tribes (ST). The Stand Up India scheme will
promote entrepreneurship among female aspirants and the people from
SC and ST communities.
• This decision was taken at a Union Cabinet meeting chaired by Prime
Minister Narendra Modi.
7. How can we register our start up
• Step1- log on start up india portal
• Step2- choose your legal entity
• Step3- input your incorporation/registration No.
• Step4- input your incorporation/registration date
• Step5-PAN NO (optional)
• Step6-input your address
• Step7-input authorised representative detail
• Step8- input director(s) detail
• Step9-upload document and certificate
• Help line No.-1800115565
• Email dipp-startup@nic.in
8. Investments
Softbank, which is head quarter in Japan, has invested $2 billion into
Indian start-ups. The Japanese firm had pledged the total investments at
$10 billion. Google declared to launch a start-up, based on the highest
votes in which the top three start-ups will be allowed to join the next
Google Launchpad Week, and the final winner could win an amount of
$100,000 in Google cloud credits. PMMY (Pradhan Mantri Mudra Yojana)
is also one of the similar initiatives to refinance the micro units
9. Some venture that are start up
• Your Dost
• Yumlane
• Moglix
• Zilingo
• zendrive
• XpressBees
• Wow Express
10. Action plan of GOI for start up
• 1. Self certification
• 2. Start-up India hub
• 3. Register through app
• 4. Patent protection- 80% reduction in patent registration fee
5. Rs 10,000 crore fund
• 6. National Credit Guarantee Trust Company
• 7. No Capital Gains Tax
• 8. No Income Tax for three years
• 9. Tax exemption for investments of higher value
• 10. Building entrepreneurs
• 11. Easy rules
• 12. Faster exit
11. Impact of Start-up India on Indian Economy
• Creation of Job
• Increase Export
• Increase production will lower the price of goods and services
• It will increase multiplier effect
• Boost GDP
12. Extension of Income Tax holiday Start-ups
(Budget 2017)
The startup companies will now have to pay tax for only three years out of the
seven years tenure if only they make profits. Thus, this announcement made in
the financial budget of 2017 makes it easy for the startup businesses to freely
breathe in the Indian business market and give more attention to growing their
business. This tax benefit is available to the businesses which are recognised by
the DIPP (Department of Industrial Policy & Promotion).
• The start-ups needs to meet the definition given by DIPP and the application
then will be reviewed by a three-member inter-ministerial panel comprising a
joint secretary from DIPP and representatives from the Department of
Biotechnology and Department of Science and Technology.
• The panel meets once a month to decide on applications based on how
innovative a start-up is. This process is designed to ensure that the provisions
are not mis-used. Its hard fact to know that only 8 start-ups were allowed to avail
the tax rebate in 2016 out of 111 applications received, according to data on the
Start-up India website.