Tag: startup india scheme

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Startup

Startup India Seed Fund Scheme To Support Startups and Domestic Entrepreneurs; Here’s How the Scheme Would Help Businesses

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New Delhi, April 20: Startup India seed fund scheme would support domestic entrepreneurs and their business ideas that often cannot take off due to the absence of critical capital at an early stage, Commerce and Industry Minister Piyush Goyal on Monday said. The Startup India seed fund scheme was announced by Prime Minister Narendra Modi in January to support startups and help budding entrepreneurs pursue innovative ideas. The Minister said that good ideas often get bought out by international venture capitalists at throwaway prices.

While launching the scheme, Goyal said that the idea behind the scheme is to ensure adequate availability of funds, particularly to startups with good ideas in different fields. “I do hope that this scheme will support our domestic entrepreneurs and their business ideas that often cannot take off due to the absence of critical capital at an early stage,” Goyal added.

The scheme will be implemented from April 1, 2021. The Rs 945 crore corpus will be divided over the next four years for providing seed funding to eligible startups through eligible incubators across India.

Here’s how the Startup India seed fund scheme would benefit the startups:

  1. The scheme will secure seed funding, inspire innovation, support transformative ideas, and facilitate implementation of those ideas.
  2. Smaller towns are often deprived of adequate funding and this scheme will create a robust startup ecosystem in Tier 2 and Tier 3 regions of India.
  3. The government has constituted an Experts Advisory Committee(EAC) which will be responsible for the overall execution and monitoring of the scheme.
  4. Over 7,500 new startups are incorporated every year and it is essential to provide seed funding to startups with innovative ideas to conduct their ”Proof of Concept”.
  5. The scheme is being launched by DPIIT (Department for Promotion of Industry and Internal Trade) to support this early-stage startup funding.
  6. It would provide financial assistance to startups for Proof of Concept, prototype development, product trials, market entry and commercialization. The scheme aims to support an estimated 3,600 entrepreneurs through 300 incubators.

Reports inform that the online portal created by DPIIT for the scheme will allow incubators to apply for funds under it. Also, grants of up to Rs 5 crore shall be provided to the eligible incubators selected by the EAC. The selected incubators would provide grants of up to Rs 20 lakh for validation of Proof of Concept, or prototype development, or product trials to startups. According to eports, an investments of up to Rs 50 lakh will be provided to the startups for market entry, commercialization, or scaling up through convertible debentures or debt-linked instruments.

 

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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

Startups (Photo Credits: Pexels)

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 India Scheme: 69 Startups Registered in J&K With an Aim To Enable Startup Ecosystem and Foster Innovation in the Region

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Startup (Photo Credits: Pixabay)

Srinagar, February 10: The Startup India Scheme, which is an initiative by the Government for generation of employment and wealth creation, is gaining momentum. The goal of Startup India is the development and innovation of products and services and increasing the employment rate in India. In Jammu and Kashmir, as many as 69 startups have been registered in Jammu and Kashmir under the Startup India scheme, officials said. These startups aim to promote and boost start-up ecosystem across the region.

According to data from the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI), 69 startups have been registered in the Union Territory. At present, the J&K government is focussing on several sectors including food processing, agriculture, renewable energy, handicrafts and handloom for promoting startups.

In a bid to enable the startup ecosystem and create awareness, outreach, and scouting of startups, Startupjk.com has also been made live. To foster the growth of startups in the region, the Central Government has announced a Rs 945-crore Startup India Seed Fund Scheme (SISFS). This will be operational from April 1, 2021, to 2025. In the same light, the Jammu & Kashmir administration is working to encourage startups and foster innovation, thereby creating jobs and boost economy.

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Startup

Govt. of India Free Online Learning Program for Start-Ups

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The Govt. of India initiative known as Start-up India is offering new businesses an incredible opportunity to learn the ways to establish, strengthen and grow their business. Its learning program is enabling thousands of startups to learn the skills to make their companies last for the long run in the highly-competitive market.

What is Start-up India Learning Program?

Start-up India, an initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Govt. of India, provides a free online learning program for entrepreneurs. The motto of this initiative is to take start-ups of India to the next level with the help of structured learning.

Who initiated the program?

Start-up India scheme is an initiative by the Government of India that has been helping newly-started businesses to establish themselves in various ways. These include measures such as setting-up online portal and hubs to enable registration, grievance-handling, etc., and increasing the pace at which government procedures such as patent acquisition and registrations are done. The online portal of Start-up India has over 4 lakh users. Start-up India loan, another part of the initiative helps women entrepreneurs along with other underprivileged sections of the society such as SCs and STs with financing.

What does the program offer to aspirants?

The program consisting of 69 courses offers small and medium business enterprises with scope to boost their knowledge in a vast field of various business aspects such as technology, sales, security, management, and finance. It takes the learners on a journey of how the top 40+ founders of India started their businesses.

How can one register?

One can register for the 4-week training program by registering for it on the online platform of Startup India. The course aspirants have to fill a form asking for details such as name, email id, phone number, etc. along with the language they wish to pursue the program in.

Operating on a similar motto to make the country’s start-ups, SMEs and MSMEs reach another level of success through organized learning, Bada Business offers courses for companies, professionals, and students. Their Problem-Solving Courses namely “How to Start a Start-up” and “How to Scale a start-up” guide start-ups through the process of establishing and bringing growth to their business. Visit their website https://bit.ly/3c1ZyxT