Start-up in India is an initiative taken up by Government of India to encourage start- up industries (MSMEs and small scale industries) in India and also encourage entrepreneurship and innovation.
1. The purpose of Government of India under start-up scheme is to encourage new businesses to create jobs, to generate wealth, to create new industries and have a vital dynamic effect on the technological and economic development of society.
2. An additional area of focused relating to this initiative, is to discard restrictive States Government policies within this domain, such as License Raj (taxation policies), Land Permissions, Foreign Investment Proposals, and Environmental Clearances. It was organized by The Department of Industrial Policy and Promotion (DIPP)
Following are the benefits that will be provided to startup companies/firms.
1-Start-ups would receive income tax exemption for the first three years of their existence.
2-Rs 10,000 crore corpus as seed money. This will really help the startups as they are offering seed money without any equity share demanded and at minimal interest rates.
3-Relaxation of government procurement norms to ensure that start-up companies are able to compete in the procurement processes.
4-Faster registration of patents and bring in a new scheme for protection of intellectual property rights.
5-80 per cent reduction in patent registration fees.
6-Starting and running a start-up is not a cake wake. In case you have an idea and you want to start a business, then you will have multiple questions like how to start, what are the legal formalities involved, what kind of registrations I have to procure, how to safeguard the business, employee contracts and in case you are able to find a answers to all the above, the next question that stare at you is to how to manage all these, arrangement of funds etc.
7-Understanding the complexities involved, we have designed this full service suite which offer solutions to all your worries, right from the registration of your business till assisting you in accelerating the growth of your business.
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