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Startup

Startup India Scheme: What Qualifies a Startup Under This Scheme? Here’s How Can One Register a Profile Online on startupindia.gov.in

The Startup India initiative launched by the government on January 16, 2016, aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to the growth of startups. In India, as many as 44,534 startups have been recognised by the department for the promotion of industry and internal trade (DPIIT).

What qualifies as a ‘Startup’ under Startup India Scheme

An entity shall be considered as a Startup:

1. If it is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India

2. Up to 10 years from the date of its incorporation or registration

3. If its turnover for any of the financial years since incorporation/registration has not exceeded Rs 100 Crores

4. If it is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation

It must be noted that an entity formed by splitting up or reconstruction of a business already in existence shall not be considered a ‘Startup’.

How Can I register a profile online on the Startup India website:

  1. Visit the Startup India website startupindia.gov.inand click on ‘Register’ at the right side of the website where the profile photo box appears on the screen.
  2. Fill in the details as required in the registration form.
  3. An OTP will be sent to your registered email address, post submitting which your profile will get created.

 

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Business motivation Startup Strategy Technology

PM Narendra Modi Urges Youngsters To Join ‘Prarambh’, the Startup India International Summit on January 15-16; Here’s How To Register Online

Prime Minister Narendra Modi has called upon youngsters of India to attend ‘Prarambh’, the Startup India international summit on January 15 and 16. The Prime Minister asserted that the summit seeks to bring together top minds from industry, academia, investment, banking and finance besides young start up leaders. Taking to Twitter, the Prime Minister shared his LinkedIn post in which he noted that virtual interactions have become the new normal during the COVID-19 pandemic and said a big advantage of this is that people can be a part of programmes sitting at home. “With most events being held virtually, it has given a great opportunity for youngsters to be a part of many interesting domestic & global forums. One such opportunity is coming up in the form of Prarambh on 15-16 Jan. I urge our youth to be a part of it,” Modi tweeted on Monday.

Referring to the ‘Prarambh’ summit, the prime minister said India would also be marking five years since the Startup India initiative began. He said that this initiative has propelled India to being among the most attractive start-up eco-systems globally. Lauding the capabilities of the youths in India, the Prime Minister said that no words can do justice to the spirit of India’s youth. “Their penchant for innovation has led to outstanding results. Our start-up heroes are not merely coming from big cities but also from smaller towns. This is a good sign,” he added

Talking about the work from home opportunities, the Prime Minister noted and said work from home is in, so is greater adapting to technology. “For me, it meant more programmes online, which were extremely productive and insightful. There were interactions with scientists, medical professionals, COVID warriors, academics, industry leaders, young innovators, spiritual leaders and more,” Modi said.

The Prime Minister added that there were virtual summits, both bilaterals and multilaterals with world leaders, he noted, adding that “path-breaking” development schemes were launched through public events organised digitally.

About Prarambh:

‘Prarambh’ – Startup India International Summit – on 15 and 16 January 2021 in a virtual format. It will be organised by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. ‘Prarambh’ means ‘an auspicious beginning’. As a verb, it implies ‘to start’.

The idea is to attain attention of global capital for startups in India, mobilize domestic capital, provide opportunities for accessing international markets to our startups and evolve enabling policy provisions.  The first day of the Summit has been devoted to host dignitaries and stakeholders from BIMSTEC member States. The day will witness participation of renowned stakeholders from startup communities of BIMSTEC member states engaging in multilateral discussions and showcasing best of their innovations.

Here’s How You Can Register for the Prarambh Summit:

  1. Youngsters can registered themselves on the official site i.e. https://www.theprarambh.in
  2. Click on ‘Register Now’ at the top of the page and fill in all the details that have been asked.
  3. Enter details like your name, address, email-id, sector, select country and state, city and category and then click on ‘Submit’.
  4. Youngsters can check the official website as it has all the details of the 2-day Start-up India International Summit.

The main objectives of the Prarambh Summit are given below:

  • Encouraging and inspiring the youth for innovation and entrepreneurship
  • Exchange knowledge on best practices on nurturing startup ecosystems
  • Develop capacities of entrepreneurial ecosystem
  • Mobilize global and domestic capital for investments into startups
  • Provide opportunities to startups for entering domestic (private and public) and international markets
  • Showcasing high-quality, high technology and frugal innovations from India
  • Enable ease of doing business for startups and investors.

The who’s who of the Indian as well as global Startup ecosystem are making a beeline for this event. Please mark this date for a marathon of in-depth knowledge sessions and exchange of global ideas! Prarambh is expected to bring together top policy makers, industry, academia, investors, startups and all stakeholders from across the globe. In addition to deliberating on good practices from best of the ecosystems across the world, the sessions of the Summit are designed to showcase the spread and depth of entrepreneurship based on innovation in India.

Categories
Startup

Tiding Over Times: 3 Things Indian Start-ups should be prepared for Post COVID World

With nations imposing the complete lockdown to protect their citizens, the global pandemic of COVID 19 brought the wheel of economic growth to a halt. The businesses have been stalled, supply chains are disturbed and the global trade has been thwarted.

According to a Nasscom report that included 250 start-ups in India, ’90% of them are facing a decline in revenue. 70% of them are struggling with cash reserves, while 30-40% start-ups are in the process of shutting down either temporarily or permanently’.

However, for many, the difficult part of the pandemic is its uncertainty that has made many startup founders quite anxious. Here are 3 things that Indian start-up should do to succeed in post COVID world:

Look for New Opportunities

‘Success is not changing reality; it is the mentality behind the reality’. A crisis is nothing but an opportunity in disguise. Hence, keep your eyes open and look for new business opportunities. Research on current market trends and evaluate your product accordingly. This will help entrepreneurs to understand the changed customer behavior, and infuse innovation into their business strategy.

Create a Concrete Business Strategy

Accepting the reality and working according to it is the need of the hour. Hence, every startup owner should have straight conversations with your co-founders and investors will help you analyze the company`s health. Conserve funds, create a business plan, test every future assumption, and keep the dialogue open.

Indian Startups should Focus on building a remote team
Due to the pandemic, most of the companies have given their employees work-from-home. This will ensure the physical and mental well-being of every employee, and also reduces the chances of infection. However, it is important to stay connected with your employees to keep their morale up. Hence, be transparent about your plan and connect with them through daily or weekly calls.

The easy days ahead of you will remain easy, it is the challenging times that test your strength to the very core. You will be defined not just by how much you achieved, but by how you survived in the tough times.
The above-mentioned factors must be taken into consideration by startups after Covid to survive. If you have other business problems that you are stuck with, you can find a solution with our Problem Solving Courses. Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads