STARTUP SCHEMES IN INDIA
The term “startup” became
internationally widespread during the dot-com bubble in the late 1990s, when a
great number of Internet-based companies were founded. A startup company (startup
or start-up) is an entrepreneurial venture which is typically a newly emerged,
fast-growing business that aims to meet a marketplace need by developing or
offering an innovative product, process or service. According to U.S. Small
Business Administration, a startup is a “business that is typically technology
oriented and has high growth potential". The reference to "growth
potential" may mean growth in revenues, number of employees, or both, or
to the scaling up of a business to offer its goods or services to a wider or
larger market.
Any new business can be
considered as a startup if it commits a rare idea with a potential for rapid
growth irrespective of technology oriented or otherwise.
Evolution of startups in India
Technology startups in India exist
for more than three decades. Some of them were formed with US based Texas
Instrument’s R&D center which started in the year in 1985.
Government Schemes for Startups in India
1. Standup India
Ø
Purpose is to support entrepreneurship among
women and SC & ST communities
Ø
Offers bank loans of between rupees 10 lakh (US$15,000) and rupees1
crore (US$150,000) for scheduled castes and scheduled tribes and women setting
up new enterprises outside of the farm sector
Ø
Eligibility
·
SC/ST and/or Women entrepreneurs, above 18 years
of age
·
Available for only green field project (Green
field signifies , in this context, the first time venture of the beneficiary in
the manufacturing or services or trading sector
·
In-case of non-individual enterprises, 51% of
the shareholding and controlling stake should be held by either SC/ST and/or
Women Entrepreneur
·
Borrower should not be in default to any
bank/financial institution
2. Startup India
Ø
Purpose is to promote bank financing for
start-up ventures to boost entrepreneurship and encourage start -ups with jobs
creation.
Ø
Offers –
1. Single
Window Clearance even with the help of a mobile application
2. 10,000
crore fund of funds
3. 80%
reduction in patent registration fee
4. Modified
and more friendly Bankruptcy Code to ensure 90-day exit window
5. Freedom
from mystifying inspections for 3 years
6. Freedom
from Capital Gain Tax for 3 years
7. Freedom
from tax in profits for 3 years
8. Eliminating
red tape
9. Self-certification
compliance
10.
Innovation hub under Atal Innovation Mission
11.
Starting with 5 lakh schools to target 10 lakh
children for innovation programme
12.
New schemes to provide IPR protection to
start-ups and new firms
13.
Encourage entrepreneurship
14.
Stand India across the world as a start-up hub
Ø
Eligibility
1. An
entity (Private Limited Company or Registered Partnership Firm or Limited
Liability Partnership) shall be considered a “Startup”
a)
Upto 5 years from the date of its incorporation/
registration, and
b)
If its turnover for any of the financial years
has not exceeded INR 25 crore, and
c)
It is working towards innovation, development,
deployment or commercialization of new products, processes or services driven
by technology or intellectual property.
The
entity should not have been formed by splitting up or reconstruction of a
business already in existence. A proprietorship or a public limited company is
not eligible as startup. A one person company, being a private limited company
is entitled to be recognized as a 'startup'
3. Make in India
Ø
Purpose is to encourage multi-national, as well
as national companies to manufacture their products in India.
Ø
Focus
1. Automobiles
2. Automobile
Components
3. Aviation
4. Biotechnology
5. Chemicals
6. Construction
7. Defence
manufacturing
8. Electrical
Machinery
9. Electronic
systems
10.
Food Processing
11.
Information Technology and Business process
management
12.
Leather
13.
Media and Entertainment
14.
Mining
15.
Oil and Gas
16.
Pharmaceuticals
17.
Ports and Shipping
18.
Railways
19.
Renewable Energy
20.
Roads and Highways
21.
Space and astronomy
22.
Textiles and Garments
23.
Thermal Power
24.
Tourism and Hospitality
25.
Wellness
4. Digital India
Ø
Purpose is to ensure that Government services
are made available to citizens electronically by improving online
infrastructure and by increasing Internet connectivity or by making the country
digitally empowered in the field of technology.
Ø
Consists of three core components - The creation
of digital infrastructure, Delivery of services digitally and Digital literacy
Ø
Pillars of Digital India
1. Broadband
Highways
2. Universal
Access to Mobile Connectivity
3. Public
Internet Access Programme
4. e-Governance
– Reforming Government through Technology
5. eKranti
- Electronic delivery of services
6. Information
for All
7. Electronics
Manufacturing
8. Digital
or IT for Jobs
9. Early
Harvest Programmes
Ø
Services
1. Digital
Locker
2. e-education
3. e-health
4. e-sign
5. national
scholarship portal
6. Botnet
cleaning centers
5. Skill India
Ø
Purpose is to train over 40 crore (400 million)
people in India in different skills by 2022.
Ø
Schemes
1. National
Skill Development Mission
2. National
Policy for Skill Development and Entrepreneurship, 2015
3. Pradhan
Mantri Kaushal Vikas Yojana (PMKVY)
4. Skill
Loan scheme
5. Rural
India Skill
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