What is startup India standup India campaign by Mr. Narendra Modi?
Starting up a venture is a tough task, especially for a common man. How to manage finances, how to buy raw materials, I have an idea but what’s next? How will I manage such things etc. are some of the basic questions that arise in the mind of an upcoming entrepreneur.
Startup India Scheme
Startup India is one of the recent schemes by Mr. Modi to help such business persons. It is basically aimed at promoting bank financial services to make better the new ventures and encourage start ups with job creation. This campaign was announced by PM Modi ji during his speech on August 15, 2015.
What are the benefits of this campaign?
- To make India stand as a start-up hub across the world
- Obviously to boost up entrepreneurship
- To provide Intellectual Property Right protection to start-up firms
- To provide self-certification compliance
- Reducing the patent registration fees by 80%
- Providing sufficient funds – approx 10,000 crores
- To target 10 lakh children for innovation program & to achieve this, starting around 5 lakh new schools is another main part
- Easy exit scheme.
- Core benefits for female contenders.
- No inspection in first three years.
- To exempt tax on the profits in first 3 years
- Other than financing, people will be able to get training
How to apply for Standup India Scheme?
After it has been launched in April, now business people can enroll themselves under this scheme. Before you apply, let’s have a look at what is the eligibility to enroll for the scheme:
- Must belong to SC/ST/OBC community. Women, especially widows are eligible for this scheme’s benefits.
- Your company must be registered private company as LLP, partnership or individual entity.
- The company should not be older than 5 years.
- The products should be the ones that can be commercialized.
- Annual income must be lesser than 25 crores or equivalent.
- DIPP certification i.e. get approval from DIPP that your company is innovative.
Once you clear the eligibility criteria, you are suitable to get the funds from 10 to 100 lakh. To register, you can visit official portal: http://startupindia.gov.in/
For any other help, you can coordinate with: firstname.lastname@example.org
or use Toll free number – 1800115565