STARTUP
INDIA HUB
Startup India Hub was
operationalised on 1st April 2016 to resolve queries and provide handholding
support to Startups. The hub has been able to resolve 23,290 queries received
from Startups through telephone, email and Twitter. To seek clarifications pertaining
to Certificate of Recognition as a “Startup”, Certificate of
Eligibility to avail tax benefits,
seeking information on incubators or funding, one can get in touch with the Hub
on Toll-Free number: 1800115565 or email: id dipp-startups@nic.in
LEARNING
Startup India Hub would soon be
launching an interactive online learning and development module to educate
Startups and aspiring entrepreneurs, through various stages of their
entrepreneurial journey. The learning and development module shall be made
available through the Startup India portal
RECOGNITION
1231 applications have been
received for out of which 428 had the required documents and
have been recognised as Startups by DIPP. Rest of the applicants will be
provided guidance and support to submit the relevant documents by the Startup
India Hub. Out of the total applications received, 99 applications
can be considered for tax benefits as only these Startups have been
incorporated after April 1, 2016. Out of the 99 applications, all have been
considered by the IMB and 5 Startups have been approved for availing tax
benefits.
RECOMMENDATION
BY INCUBATORS
A maximum fee of INR 5,000 can
be charged by the incubators for providing Letter of Recommendation to
Startups. In cases where external expert(s) is/are required to assess the
innovativeness of a product/service/ process, a maximum fee of INR 10,000 can
be charged by the incubators.
AUGMENTING
INCUBATORS
In order to augment the existing
list of incubators, a module to recognise incubators has been launched. This
shall enable incubators to obtain recognition from the Government of India
which will allow them to issue recommendation letters to Startups. For more
details, visit the link: http://startupindia.gov.in/recognition.php
FACILITATORS
A panel of facilitators has been
constituted for providing assistance and support in filing applications for
Intellectual Property Rights (IPR), wherein, Department of Industrial Policy
and Promotion (DIPP) would bear the facilitation cost.
To avail IPR-related benefits
(rebate in fee and free of cost facilitation in filing IPR applications), a
Startup would not be required to obtain a Certificate of Eligibility from the
Inter-Ministerial Board of DIPP (a Certificate of Recognition of DIPP would
suffice).
To get the list of facilitators,
visit:
http://startupindia.gov.in/uploads/pdf/List_of_facilitators_for_patents.pdf http://startupindia.gov.in/uploads/pdf/List_of_facilitators_for_trademarks.pdf
TAX
EXEMPTION
The Finance Act, 2016 has made
provision for Startups to get income tax exemption for 3 years in a block of 5
years, if they are incorporated between 1st April 2016 and 31st March 2019. To
avail these benefits one must get a Certificate of Eligibility from the
Inter-Ministerial Board of DIPP.
Tax exemption on investments above
Fair Market Value have been introduced for investments made in Startups (as per
definition). For details, visit link:
EXEMPTION
FROM COMPLIANCES
Startups falling under the list of
36 “white” category industries have been exempted from all the applicable
compliances under 3 Environment Laws viz. The Water (Prevention & Control
of Pollution) Act, 1974; The Water (Prevention & Control of Pollution) Cess
(Amendment) Act, 2003 and The Air (Prevention & Control of Pollution) Act,
1981. To get the list of “white” category industries, visit link:
In order to further incentivize
Startups by provision of ease in regulatory compliances, the Apprentices Act,
1961 has been amended. To get details, visit link:
RELAXED
NORMS OF PROCUREMENT
Relaxed norms on prior experience
and turnover for public procurement for micro and small enterprises have been
provisioned in the Procurement Policy of Ministry of MSME. To get details,
visit link:
ENABLER
The Insolvency and Bankruptcy Code
2016 has been published in the Gazette. Once the code is notified, Startups
shall be able to wind up their business within a period of 90 days from making
an application for the same.
A 'fund of funds' of INR 10,000 crores
for Startups has been established which shall be managed by SIDBI. The fund
will invest in SEBI registered Alternative Investment Funds (AIFs) which, in
turn, will invest in Startups. Thus, this fund will act as an enabler to
attract private capital in the form of equity and quasi-equity for Startups.
RESEARCH
PARKS, TECHNOLOGY BUSINESS INCUBATOR& STARTUP CENTERS
7 proposals for Research Parks, 15
proposals for TBIs and 14 proposals for Startup centres have been recommended
by the National Expert Advisory Committee (NEAC) formed by MHRD. These
proposals shall be implemented in the current financial year.
COLLABORATION
DIPP will write to top companies to
request them to support the initiative by setting up new incubators or scale up
existing incubators in collaboration with educational institutes.
HUB
AND SPOKE MODEL
DIPP has requested State
Governments and administration of Union Territories to set up Startup Hub as
well as incubators to help Startups during various stages of development.
Source: http://startupindia.gov.in
Download Link of this report: http://startupindia.gov.in/uploads/pdf/Status_Report.pdf