The year 2016 started on a highly positive note for the startup ecosystem in India, with the Government making high promises through its ambitious Startup India plan.
In order to make the life of entrepreneurs easy and for giving a huge push to Startup India campaign, the Department of Industrial Policy and Promotion (DIPP) is going to launch a dedicated portal (and a mobile app) for startups this week. The portal will let the startups avail all the incentives provided by the government.
The portal, along with a mobile app, will act as a one point contact for all the Government related, of course, needs of the new startups in the country. Right from the easy registration of the startup in a day to getting clearances and approvals, the portal will serve every requirement of the companies.
The portal will also provide all the information about incubation facilities and the tax benefits that the government will offer to the startups. Through this portal, the startups can get themselves registered within 24 hours and be validated as eligible startup entities.
The portal will also serve as a single point of contact for clearances, approvals and registrations, and for companies to apply for schemes under the Startup India Action Plan.
“This is part of our effort to create a conducive environment for startups. It will facilitate easy exchange of information between all stakeholders,” a senior official said.
DIPP would also equip the portal to let the founders register their startup under India’s Company’s Act.
Thus, the portal would help in bringing together a lot of startup-related entities ranging from incubators, accelerators, VCs, seed capital and angel investment funds, and various government functionaries.
PM Narendra Modi had assured about launching a dedicated portal and mobile app for India’s new-age tech companies on April 1.The portal is live at http://startupindia.gov.in/
All these incentives, when coupled together, are poised to take the startup ecosystem in India to the next level.
The government had announced numerous other initiatives to boost entrepreneurship and aid the growth of startups in the country.
The government had also announced a 12-point action plan to encourage the startups in the country. The plan contains various incentives for startups like greater access to capital, incubation and appropriate talent for these upcoming corporations. PM Modi had also announced 3 year tax holiday for startups, tax exemption for capital gains, and funds worth INR 10,000 crore for startups.
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