An initiative by the Government of India to foster innovation, support entrepreneurs, and drive economic growth by creating a conducive startup ecosystem.
Tax Exemptions : Startups registered under the Startup India initiative can benefit from tax exemptions on profits for the first three years, and exemptions on capital gains and investments above Fair Market Value (FMV).
Funding Support : Startups have access to a dedicated Fund of Funds with a corpus of INR 10,000 crore, which provides financial support and facilitates funding through venture capitalists.
Easier Registration Process : The Startup India initiative simplifies the registration process through an online portal, making it quick and straightforward.
Self-Certification : Startups can self-certify compliance with nine labor and environmental laws, reducing the regulatory burden and allowing them to focus on business growth.
Exemption from Prior Experience/Turnover**: Registered startups can participate in government tenders without the requirement of prior experience or a high turnover, opening up new business opportunities.
Dedicated Programs and Schemes**: Startups can access various government schemes and programs specifically designed to support innovative businesses.
Fast-Track Patent Application : Startups benefit from a fast-track examination of patent applications and a rebate of up to 80% on patent filing fees.
Legal Support : The initiative provides startups with legal support for filing IPR
applications, reducing costs and ensuring better protection of innovations.
Incubation Centers : Startups can access over 500 incubation centers across India, providing mentorship, workspace, and resources.
Startup India Hub : The initiative connects startups with various stakeholders, including investors, mentors, and industry experts, facilitating valuable networking opportunities.
Innovation Support : Startups can avail of various R&D facilities and resources through the Atal Innovation Mission (AIM) and other initiatives to promote innovation and technological advancement.
Government Grants : Access to government grants and funding for research and development projects, helping startups develop new products and solutions.
Startup India is a flagship initiative of the Government of India, aimed at building a strong ecosystem for nurturing innovation and startups in the country, leading to sustainable economic growth and generating large-scale employment opportunities.
Yes, Tamil Nadu has its own initiatives and funds to support startups. The Tamil Nadu Startup and Innovation Policy provides various financial incentives, subsidies, and grants to encourage entrepreneurship in the state.
This policy aims to create a vibrant startup ecosystem in Tamil Nadu by offering financial assistance, infrastructure support, skill development, and fostering a culture of innovation and entrepreneurship.
