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Planning Execution Of Start-ups

Start-ups projects are mainly the initiative of the Indian government for building a strong entrepreneurial environment for the young generation, it also builds a robust start-up ecosystem and transforming India into a job creator instead of a job seeker. These programs are manage by a dedicated Startup India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT).

Now if we look into the definition and idea about the start-ups that means an entity, incorporated, registered in India before 5 years, with annual turnover not exceeding 25 crore Rs in any financial year working towards innovation, development, deployment, or commercialization of new products, processes or services driven by technology or intellectual property, WHEREAS this does not include splitting up, reconstruction.

Contents hide

1 Inter-ministerial board

2 Start-Ups Eligibility

3 LEGAL SUPPORT AND IP PROTECTION AT LOWER COSTS

3.1 Various measures being taken in this regard include:

4 Funding Under Start-Ups

5 Following Are The Key Initiatives Changes In The Various Schemes Under Start-ups.

6 DIGITAL INDIA

7 Current Data Innovation Bazar Under Start- Up Innovative

8 Footnote

9 Related

Inter-ministerial board

A certificate from the inter-ministerial board for a start-up is necessary. Under which board decides the norms for innovation and nature of business for granting the tax-related benefit. Any fraud/error/misappropriation is debar. Earlier, the criteria for manufacturing units and service units were different. Now those distinctions between Manufacturing and Service MSMEs are being remove. They will all be define similarly

Start-Ups Eligibility

In order for a “Start-ups” to be consider eligible, the Start-ups should be in format recommendation of DPIIT; having turnover prescribe under the companies act, be funded by an Incubation Fund/Angel Fund/ Private Equity Fund/Accelerator/Angel Network duly registered with SEBIS that endorses innovative nature of the business; or be funded by Government of India as part of any specified scheme to promote innovation; or have a patent granted by the Indian Patent and Trademark Office in areas affiliated with the nature of business being promoted.

The compliance regime based on self-certification which means all the startups have to give self-declaration for the compliance of various laws, following labor, environmental and other regulation applicable to them.

LEGAL SUPPORT AND IP PROTECTION AT LOWER COSTS

To promote awareness and adoption of IPRs by Startups and facilitate them in protecting and commercializing the IPRs by providing access to high-quality Intellectual Property services and resources. Including fast-track examination of patent applications and rebate in fees.

In the developing phase, it is necessary to protect Intellectual property because innovation and Growth is equally important in the IP. So there is the scheme for Startup Intellectual Property Protection (SIPP) that shall facilitate the filing of Patents, Trademarks, and Designs by innovative Startups.

Various measures being taken in this regard include:

Fast-tracking of Startup patent applications
Panel of facilitators to assist in filing of IP applications
Government to bear facilitation cost
Rebate on filing of application

Based on the above scheme every start-up got a valuation of any innovative protected under patent act set up a general advisory committee. The government shall bear the entire fees of facilitator for any number of patents, trademarks or designs that a Startup may file, and the Startups shall bear the cost of only the statutory fees payable. Startups shall be provided an 80% rebate in the filing of patents.

Now we looking into the tax exemption aspects granted an Inter-Ministerial Board Certificate are exempted from income-tax for a period of 3 consecutive years out of 7 years since incorporation, exemption from the provisions of section 56(2) (viib) of the Income Tax Act.

Funding Under Start-Ups

To provide equity funding support for the development and growth of innovation-driven enterprises. The Government has set aside a corpus fund of INR 10,000 crores managed by SIDBI.

There is also a scheme related to Debt funding; where the start-up organization will help to boost their business without any hesitation and fear of failure. Credit guarantee mechanism through the National Credit Guarantee Trust Company (NCGTC)/ SIDBI is being envisaged with a budgetary Corpus of INR 500 crore per year for the next four years.

Following Are The Key Initiatives Changes In The Various Schemes Under Start-ups.

There is a change in eligibility limits of the register and falling under the MSMEs criteria that is MSMEs will now be called Micro units. If they have investments up to Rs 1 crore and turnover of less than Rs 5 crore. The definition earlier was on investment criteria of up to Rs 10 lakh for Service MSMEs earlier and Rs 25 lakh for manufacturing.

The DPIIT is also the nodal point to run the program called MAKE IN INDIA. However, a dedicated investor facilitation cell (IFC) assists investors in seeking regulatory approval. It provides handholding services through the pre-investment phase, execution, and after-care support.

DIGITAL INDIA

Under the DIGITAL INDIA, there are nine growth areas in this program; namely the Universal Access to Mobile Connectivity, Broadband Highways, Public Internet Access Program, Reforming Government through Technology, e-Governance: e-Kranti—Electronic Delivery of Services, Electronics Manufacturing, Information for All, IT for Jobs, and Early Harvest Programs. Startups have a natural home in the digital sector, and this initiative complements the startup revolution well.

There is various NATIONAL SKILL QUALIFICATION PROGRAM that needs the standard of the start-up idea that delivers the practical work and thus start-up can obtain skilled labor recourses.

To provide business finance for micro-business units, including startups, the GOI has established the Micro-Units Development and Refinance Agency (MUDRA). Micro or small businesses operating in the manufacturing, trading, and services sectors (including startups). They are eligible for loans in the following three categories:

• Sishu (infant): loans up to INR 50,000

• Kishor (adolescent): loans up to INR 5 lakhs

• Tarun (young): loans up to INR 10 lakhs

Organizing Startup Fests for Showcasing Innovation and Providing a Collaboration Platform.

Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilization (SETU) Program.

Building Innovation Centres at National Institutes.

Setting up of 7 New Research Parks Modeled on the Research Park Setup at IIT Madras.

Promoting Startups in the Biotechnology Sector.

Launching of Innovation Focused Programs for Students.

Current Data Innovation Bazar Under Start- Up Innovative

There is under the various field agriculture, education, energy / environmental, healthcare, logistic, next generation connected transporatation, smart cities, and smart video are top most shortlisted startups. Under which we can get the better idea for the technology expansion and innovation.