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Startup India Initiative Gains Momentum, Total 44,534 Startups Recognised by DPIIT So Far, 339 Startups Granted Income Tax Exemptions

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New Delhi, March 12: Under the Startup India initiative launched by the government, as many as 44,534 startups in India have been recognised by the Department for the Promotion of Industry and Internal Trade (DPIIT). The numbers have been updated as of February 24 this year, Minister of State for Commerce and Industry Som Parkash said in the Parliament on Wednesday. Startup India is a flagship initiative of the Government whoch aims to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities.

Startup India, a flagship initiative of the government launched on January 16, 2016, aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to the growth of startups. “Since, the launch of Startup India initiative, a total of 44,534 startups have been recognised by the DPIIT as on February 24, 2021,” he said.

Reports inform that as many as 339 startups have been granted income tax exemptions till January 2021. The recognised startups are eligible for several benefits under the Startup India initiative. They avail tax exemptions besides other support measures. Prakash said that startups are eligible for an 80 percent rebate in patent filing fees and 50 percent on trademark filing fees.

Giving details about the startups in India, the Minister informed that so far, 5,253 applications for patents have been filed by startups under the SIPP (startups intellectual property protection) Scheme, out of which 514 patents have been granted. Till November 2020, a total number of Trademark applications filed – 12,264.

Under the Startup India initiative, the Government aims to empower startups to grow through innovation and design. Several programs have been undertaken since its launch in January 2016 with an aim to contribute to his vision of transforming India into a country of job creators instead of job seekers. These programs have catalyzed the startup culture, with startups getting recognized through the Startup India initiative and many entrepreneurs availing the benefits of starting their own business in India.

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Startup

National Startup Awards 2021: DPIIT Invites Entries to Reward Outstanding Startups; Know Eligibility, Prize and How to Register Online at startupindia.gov.in

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Startup

The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the second edition of the National Startup Awards (NSA) 2021 and have called for entries to reward the outstanding startups. This initiative by the DPIIT aims to acknowledge  the efforts, initiatives and resilience demonstrated by the startups over the period of unprecedent challenges during the pandemic.

This year, additional categories have been introduced to NSA 2021. The NSA aims to recognise innovations focussed towards indigenisation of key products essential for realisation of an Atmanirbhar Bharat.

Here’s How to Apply for National Startup Awards (NSA), Eligibility and More

  1. Startups can register for the National Startup Awards (NSA) 2021 on www.startupindia.gov.in. The applications for the awards are open till January 31, 2021.
  2. The awards for startups will be given in 49 areas classified into 15 broad sectors. The 15 sectors are Agriculture, Animal Husbandry, Drinking Water, Education and Skill Development, Energy, Enterprise Systems, Environment, FinTech, Food Processing, Health and Wellness, Industry 4.0, Security, Space, Transport and Travel.
  3. In addition, there are six special awards for startups from educational institutions, making impact in rural areas, women entrepreneurs, potential for import substitution, innovation for combatting COVID-19 and content delivery in Indic languages. It will also reward exceptional incubator and accelerator as key building blocks of a robust startup ecosystem.
  4. All the other details of the application process may be seen at www.startupindia.gov.in.

Awards for National Startup Awards (NSA) 2021:

  1. A cash prize of Rs 15 lakh each will be awarded to one winning incubator and one winning accelerator as well.
  2. A cash prize of Rs 5 lakh each will be awarded to the winning startup in each area.
  3. The winner and two runners up will also be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders.
  4. They will also be given priority for participation in various national and international startup events. Click Here for more details on awards.

DPIIT had initiated the first ever National Startup Awards in 2019 with a view to recognize and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact. Taking forward the overwhelming success of the first edition of NSA, DPIITnow announces the launch of second National Startup Awards 2021.

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Piyush Goyal Invites Startups to Register at Public Procurement Portal GeM And Offer Goods, Services to Government Organisations & PSUs

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Startup (Photo Credits: Pixabay)

New Delhi, October 7: Commerce and Industry Minister Piyush Goyal on Tuesday invited startups to register at public procurement portal GeM and offer goods as well as services to government organisations and PSUs. According to a Business Standard report, he mentioned that about 4,000 startups have already registered at GeM.

He made this announcement at the first edition of the National Startup Awards 2020 event. Goyal elaborated about the huge potential in areas including railways, airport services, food processing, education, healthcare, agriculture, electronics and defence, and that about Rs 4,000 crore was already disbursed through Fund of Funds for startups, to about 361 startups.

The National Startup Awards, conceived by the Department for Promotion of Industry and Internal Trade (DPIIT), recognised and rewarded the outstanding startups and ecosystem with high potential of employment generation. The first edition of the Awards invited applications across 12 sectors, which were further sub-classified into a total of 35 categories.

For the Awards, a total of 1,641 applications were received from startups spread across 23 states and 4 Union Territories. These applicants included 654 women-led, 165 academic institutions based, and 331 startups working in rural areas.

Then in the next step, all the applicants were evaluated against six broad parameters namely innovation, scalability, economic impact, social impact, environmental impact, and inclusiveness and diversity. Then after three rounds of detailed evaluation, 199 startups were selected for presentation before the jury.