PM Narendra Modi has made Start Up India Hub to resolve queries and provide hand- holding support to Startups.
- Start Up India Toll-Free number: 1800115565or email: id firstname.lastname@example.org
- Startup India Portal and Mobile App has been launched.
- DIPP has requested State governments and administration of Union Territories to set up hub as well as incubators to help Startups during various stages of their life cycle.
- 728 applications have been received for Startup Recognition.
- 80 applications are complete and are recognised as a startup by DIPP.
- Top 50 companies in India have been requested to contribute towards strengthening the incubation facilities in the country through their Corporate Social Responsibility (CSR) initiatives.
- Startup India Action Plan envisages spreading of the Startup movement beyond the digital/technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, education etc.
- A ‘fund of funds’ (FFS) of INR 10,000 crores to support innovation driven Startups has been established which shall be managed by SIDBI.
- Rs. 500 crore has been released to SIDBI in FY2015-16 and Rs. 600 crore in FY2016-17.
- Section 80- IAC has provision for Startups (Companies and LLPs) to get income tax exemption for 3 years in a block of 5 years.
- Relaxed norms for public procurement for micro and small enterprises have been provisioned in the Procurement Policy of Ministry of MSME.
- A panel of facilitators has been constituted for assistance in filing Intellectual Property applications.
- DIPP would bear the facilitation cost on behalf of Startups and also provide rebate in the statutory fee for filing of application.
- To avail IPR-related benefits (rebate in fee and free of cost facilitation in filing IPR applications), a Startup is required to obtain a Certificate of Recognition from DIPP.
- A detailed guideline of the Scheme for Facilitating Start-ups Intellectual Property Protection has been published online whereby Government shall bear the entire fees of the facilitators.
- Facilitators shall provide assistance for startups in filing and disposal of patent applications related to patents, trademarks and design under relevant Acts.
- Fast track mechanism of startup patent applications has been enabled to allow startups to realise the value of their IPRs at the earliest possible.
- Further, to enable startups to reduce costs in their crucial formative years, startups have been provided an 80% rebate in filing patents
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