- DIPP To Rank States On Basis Of The Success Of Their Startup Policies; Invites Feedback From Ecosystem Stakeholders The Department of Industrial Policy and Promotion, DIPP is now inviting feedback from startup ecosystem stakeholders to rank the states and union territories on the basis of the success achieved in implementing their startup policies. A feedback mechanism has been opened on the official website of Startup India. As mentioned on the Startup India website, […]
- Government Extends Tax Benefits To 67 Startups Under Startup India Scheme Under its Startup India, Stand Up India program the Government of India has extended tax benefits to 67 startups till date. The announcement was made by Minister of State for Commerce and Industry CR Chaudhary. 2016 witnessed Prime Minister Narendra Modi announcing the way forward to Digital India and a big boost to the Startup […]
- DIPP Joint Secretary Rajiv Aggarwal On The IPR Evolution For Indian Startups And Its Future The Department of Industrial Policy and Promotion (DIPP) has been designated to execute the Modi Government’s ‘Startup India, Stand Up India’ mission. As such, the Startup India, Stand Up India mission requires the creation of startup founders who leverage intellectual property (IP) to increase job creation and bring in more revenue for the economy. Intellectual […]
- Nirmala Sitharaman Envisions Startup Coast For Aspiring Entrepreneurs In Karnataka The Minister of Industry and Commerce Nirmala Sitharaman is looking to set up a Startup Coast in Karnataka to facilitate entrepreneurs in South India, as part of efforts by the Indian government. As per reports, the Startup Coast will comprise two innovation centres and up to five incubation hubs in colleges. Apart from this, it […]
- Hungry Foal Raises Funding From SBI Under Stand Up India Scheme Gurugram-based Hungry Foal, a for-profit social venture has raised an undisclosed amount of debt from SBI under the Stand up India Scheme. Launched in April 2016, the objective of this Stand Up India scheme is to facilitate collateral-free bank loans between $15.5K (INR 10 lakhs) and $155K (INR 1 Cr) to at least one women […]
- DIPP Asks For Additional $247.7 Mn In Fund of Funds For FY ’17-18 The Department of Industrial Policy and Promotion (DIPP) has reportedly asked the Finance Ministry to release an additional $247.7 Mn (INR 1,600 Cr) under the Fund of Funds for startups (FFS) in FY 17-18. As of now, only $1.5K (INR 1 Lakh) has been allotted in this year’s budget, per the ET report. “Considering the […]
- Govt. Revises Startup Definition: Increases Startup Age Limit From Five To Seven In a recent move, the Indian Government has further enlarged the startup definition under the purview of ‘Startup India, Standup India’ initiative announced in January 2016. From now on, the overall age limit of startups has been raised from five years to seven and has been further extended to 10 years for biotech startups. In […]
- Atal Innovation Mission – Driving Innovation At Grassroots Level Innovation distinguishes between a leader and a follower – Steve Jobs In August 2016 under the purview Startup India campaign, India’s innovation took a giant leap forward, with a jump in the Global Innovation Index rankings. India was ranked number 66 in 2016 compared to 81 in 2015, a progress of 16 spots. Apart from […]
- Government Plans To Set Up 7 New Research Parks To Bolster R&D For Startups Prime Minister Narendra Modi unveiled the ‘Startup India, Stand Up India’ in January 2016. The initiative had a slew of measures aimed at simplifying compliance, exempting profits from startups for the first three years, and rolling out an action plan for boosting innovation and entrepreneurship in the country. The Action Plan also specified the setting up […]
- Government Provides 80% Rebate In Fees, Facilitator Panel To Ease Patent Filing Process For Startups The Department of Industrial Policy and Promotion (DIPP) has laid down the definition of a startup to avoid any ambiguity in the matter for consideration of government schemes. As per the current definition of startups, an entity will be identified as a startup: Up to five years from the date of its incorporation/registration. If its […]
- 40+ Entrepreneurs Share Their Journey On The L&D Module By Startup India Earlier this year in January, at the one-year completion of Startup India’s anniversary, the government continued its commitment to helping startup entrepreneurs by launching an educational initiative – the Learning & Development Module. The interactive online learning and development module aims to educate startups and aspiring entrepreneurs, through various stages of their entrepreneurial journey. As […]
- Budget 2017: Government Allows Carry Forward And Set Off Of Loss For Startups As per the Income Tax Act, a company is not eligible to carry forward and set off its losses if 51% or more of the voting power in the year, in which the set-off is claimed, is not beneficially held by the same shareholders that beneficially held 51% or more voting power on the last […]