Know Details of START UP INDIA – Coverage and Eligibility

Start Up India
Start Up India

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 [email protected] 
  • 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.

Benefits :

  1. A panel of facilitators has been constituted for assistance in filing Intellectual Property applications.
  2. DIPP would bear the facilitation cost on behalf of Startups and also provide rebate in the statutory fee for filing of application.
  3. 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.
  4. 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.
  5. Facilitators shall provide assistance for startups in filing and disposal of patent applications related to patents, trademarks and design under relevant Acts.
  6. Fast track mechanism of startup patent applications has been enabled to allow startups to realise the value of their IPRs at the earliest possible.
  7. 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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