What if your idea is not just an idea?
What if it sees light?
What if it’s really born?
What if you can get someone to believe in it?
And help you nurture it?
What if you can set a clear path for it?
What if it can actually travel?
What if it grows and blooms?
What if the whole world embraces it?
What if your idea is not just an idea?
Introduction
Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design.
In order to meet the objectives of the initiative, Government of India is announcing this Action Plan
that addresses all aspects of the Startup ecosystem. With this Action Plan the Government hopes to accelerate spreading of the Startup movement:
• From digital/ technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, education, etc.; and
• From existing tier 1 cities to tier 2 and tier 3 citites including semi-urban and rural areas.
The Action Plan is divided across the following areas:
• Simplification and Handholding
• Funding Support and Incentives
• Industry-Academia Partnership and Incubation
Start up Eligibility for taking various benefits (including Tax Exemptions) under Startup India action plan
it should satisfy Point No 1 to 5 AND any of the Point 6 to 10 from below :‐
1. It should be either Private Limited Company/Limited Liability Partnership/Partnership Firm
2. It should not be older than 5 yrs
3. It’s Turnover is less than INR 25Cr
4. It should develop an Innovative product which should add to the Value of customers and should be of commercial use
5. It has applied and got approval from DIPP (Dept of Industrial Policy & Promotion) that the firm has Innovative product (i.e Certification from DIPP)
6. Get Validated/recommendation letter from Incubator in Post Graduate Indian College
7. Get Validated/Recommendation letter by Incubator funded by Govt of India
8. Get Validated/Recommendation letter by Incubator recognised by Govt of India
9. Funded by any Incubation fund/Angel fund/PE Fund/Accelerator/Angel Network
10. Has Patent granted by Indian Patent and Trademark Office related to business
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