Start Up India- Stand Up India, finally the most awaited policy of government of india to boost Small Business companies, start ups in india is launched. Rs.10,000cr of package is announced for startups to boost employment in india with lots of new benefits for new start ups. Here is guide for how to get fund from “start up india” package and how to register for start up india and much more.
How to Get Fund from Start Up India? – Benefits of Start Up India
In Start Up India Movement, which started by Narendra Modi Government, they try to reduce the problem faced by new entrepreneur (businessman), to register new start up, to get funded, guide and many more, which will be reduced by now (hopefully). Prime Minister Narendra Modi pitched with “Yes, we have a million problems but at the same time we have over a billion minds”.
Start UP definition by Government Of India
As stated in official document of start up india project, “Startup means an entity, incorporated or registered in India not prior to five years, with annual turnover not exceeding INR 25 crore in any preceding financial year, working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.”
Benefits of Start Up India – Features/Benefits for New Entrepreneur
1.If you are new start up, you can now register your start up in one click. Yes, government of india will launch new portal and mobile app where you can register your start up in one minute. Mobile App to be lunched on 1st April, 2016.
2. New start ups will be exempted from income tax for 3 years. For starting 3 years, no income tax at all, not even inquiry about IT details.
3. If you gain capital for your start ups, you will be exempted from that too, no tax on capital gain.
4. If you want to register patent for your start up or your innovation, you will get 80% rebate in patent filling.
5. Initially Rs.2500cr is approved for start ups, later Rs.10,000cr will be provided in next 4 years. This fund is apart from Mudra Bank Yojana.
6. If your start up wants to exit, there will be policy for Faster exits for startups (Insolvency and Bankruptcy Bill), eg: wind up within 90 days.
7. Government of india will bear all cost and provide legal facility to register your patents, designs, trademarks.
8. Atal Innovation Mission:sector-specific incubators, 500 tinkering labs, pre-incubation training, seed fund for high-growth; PPP model being considered for 35 new incubators; 31 innovation centres at national institutes, 7 new research parks like IIT-M. 5 new bio-clusters. Below is list of start up centers and incubators.
9. Start Ups will get Credit Guarantee. Which will helpful for them to get Business loan.
10. There will be effort to make world class incubators in India.
11. Government of india will Launch Innovation Focused Programs for Students.A Grand Challenge program NIDHI (“National Initiative for Developing and Harnessing Innovations) will be launched.
12. Government of india to emphasis to boost start ups in biotechnology sector.
In USA, Where start up culture is quite popular, creates 75% of jobs in USA (only by 35% of start ups). So, to give more employment, start up india is good movement. Here is guide to get Fund from Start Up India;
1. To get fund from start up india, first of all you need a business plan. What you are going to create, what type of facility you are going to provide.
2. Create a presentation of your business plan. To raise fund from private fund, Angle investors or from government, you must have strong presentation of your business plan. Below is sample ready to use Template for pitching your Business for Funding by Therodinhoods.com.
3. After that, submit this presentation to your guide/mentor which will be provided by government of india, show them your presentation.
4. By 1st April, 2016, Govt. of india will lunch website, submit there your presentation to get fund for your start up.
5. There will be terms and conditions by govt of india to get fund (will be available on website of start up india), read them carefully before applying for fund.
The clear picture to get fund for start up via start up india will be clear after the lunch of website/portal. Till, we will update you with most available guide/information about start up india here.
If you want to start new Start Up and looking for Business ideas, do check out below links;
- 1. 32 Small Business Ideas with low investment, which can create big business.
2. Small business ideas with investment of Rs.10000.
3. Some Passive income ideas for business.
4. If you want to go in food business or restaurant business, check this link.
Also, do check out Prime Minister Modi’s speech at launch of Start Up India, quite motivational.
- Top 7 Best Unique Online Business Ideas
- Top 10 Small Business Starts with an Investment of Rs.10000
- 33 Small Business Ideas with Low Investment
- Difference Between PMEGP Loan vs Mudra Bank Business Loan
- Pradhan Mantri Suraksha Bima Yojana Benefits