Start-up India, Stand-up India

Prime Minister Narendra Modi has unveiled the Start-up India, Stand-up India action plan in New Delhi to boost startup ventures in the country

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The main aim of Start-up India, Stand-up India action plan is to give impetus to innovation and encourage the talent among young people and remove onerous government regulations and red tape.
Key features Start-up India, Stand-up India action plan
  • Start-up profits to be tax-free for 3 years and also no labour inspections for 3 years of launch of the venture.
  • Compliance regime based on self-certification for labour and environmental laws.
  • Easy exit policy for start-ups with 90 days.
  • Tax exemption to be provided on capital gains if money is invested in another start up.
  • Government to create Rs. 10,000 crore corpus fund for development and growth of innovation driven enterprises. It will be Rs. 2500 crore a year for four years.
  • Liberalized Fast-track mechanism for start-up patent applications under intellectual property rights protection with 80% cost rebate.
  • Encouraging startups to participate in public procurement by easing norms of minimum turnover/experience. Mobile apps, portal for register start-ups in a day from 1st April 2016.
  • Establishing Credit guarantee fund and special scheme for women entrepreneurs.
  • Sector specific incubators 500 tinkering labs, per-incubation and seed funds under the Atal Innovation mission
  • Public-private partnership (PPP) model for 35 new incubators, 7 new research parks, 31 innovation centres at national institutes and 5 new Bio clusters will be set up to help Biotech Sector.
  • Government to start Atal Innovation Mission to give an impetus to innovation and encouraging talent among young people by instituting national awards.
  • Government to promote the provision of core innovation programes in 5 lakh schools across the country.

SOME OF THE PRESENT PROBLEMS OF THE STARTUPS IN INDIA —

PROBLEMSFACTS /DEFINITION–

WHAT ARE START UPS ?

Startup company or startup or start-up is an entrepreneurial venture  or a new business in the form of a company  a partnership or temporary organization with an aim to seek profit in long term.

HOW DOES START UP DEVELOPS ?

VentureTimeline

COURTESY -STARTUPOCOMMONS

These companies, generally newly created, are innovative in a process of  development, validation and research for target market . The term became internationally widespread during the dotcom bubble  when a great number of dot com companies were founded. Because of this history, startups are often assumed to be solely technology-based companies, but this is not necessarily true: the essence of startups is generally related to the concepts of ambition, innovation, scalability, and growth.

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