STARTUP INDIA- From Nothing TO SomethingAnisha Mukhija
Aspiring entrepreneurs before 16th January 2016 were frustrated, did not have an idea what should be done next to gain investors. That’s where STARTUP India came into in the picture.
The idea of this program was to appreciate the young talents, their ideas, innovation in some cases invention. To help them to bring out their best. By providing one thing that would make it possible. INVESTORS. Startup India is a program that judges, analyzes and evaluates the potential of a startup. It can be from any sector. But there are certain norms, such as:
- The organization should be less then 5 years old.
- Which has an annual turnover of less than 25crores.
This program/initiative is a way to increase job creation and reduce the problem of unemployment. Also, to encourage entrepreneurship. It was first announced by Prime Minister Narendra Modi in his 15 August 2015 address from the Red Fort. The initiative focuses on certain points.
- Single Window Clearance even with the help of a mobile application
- 10,000 crore fund of funds
- 80% reduction in patent registration fee
- Modified and more friendly Bankruptcy Code to ensure 90-day exit window
- Freedom from mystifying inspections for 3 years
- Freedom from Capital Gain Tax for 3 years
- Freedom from tax in profits for 3 years
- Eliminating red tape
- Self-certification compliance
- Innovation hub under Atal Innovation Mission
- Starting with 5 lakh schools to target 10 lakh children for innovation program
- new schemes to provide IPR protection to start-ups and new firms
- encourage entrepreneurship.
- Stand India across the world as a start-up hub
Inaugurated by Finance minister Arun Jaitley, there were many top CEO’s and startup founders and investors present. The Ministry of Human Resource Development and the Department of Science and Technology have taken up and partnered to set up 75 hubs in support of this program.
Karnataka, Kerala, Andhra Pradesh and Telangana have results better than the rest of the country in terms of their support. Their focus has been on improving infrastructure, especially in the Tier-II cities. Bengaluru , a metro city of Karnataka, is known as the Silicon Valley of India. Kerala is well known for the government’s startup policy. Telangana , Andhra Pradesh , Madhya Pradesh , Rajasthan, Orissa are the other states you have managed to give raving support to this program.
The program has managed to give a boost of confidence to not only the young entrepreneurs but also the young women entrepreneurs as well. The women have been given lot of benefits through which they can work and earn for their family.
5 things know before launching startup- Check out for more information.
Startup India has turned out to be a blessing in disguise for the young and ambitious entrepreneurs who have wanted to make their dreams come true. It has also showed them a way to get things started. This program has been able to increase the trust and morale of the ones you are planning to be entrepreneurs.