TaxTMI 
TaxTMI 
Startup India
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....tartup India <br>News and Press Release<br>Dated:- 3-5-2016<br><BR>An Action Plan for Startup India to build a strong eco-system to nurture innovation and Startups in the country was launched on 16th January 2016. Salient features of the scheme are as follow: i. Simplification and Handholding * Simple Compliance Regime for startups based on Self-certification * Launch of Mobile app and Portal....
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.... for compliance and information exchange * Startup India Hub to handhold startups during various phases of their development * Legal support and fast-tracking patent examination at reduced costs * Relaxed norms of public procurement for startups * Faster exit for startups a. Funding support and Incentives * Providing funding support through a Fund of Funds with a corpus of ₹ 10,00....
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....0 crore * Credit guarantee fund for startups * Tax exemption on capital gains invested in Fund of Funds * Tax exemption to startups for 3 years b. Industry-Academia Partnership and Incubation * Organizing Startup Fests to showcase innovations and providing collaboration platforms * Launch of Atal Innovation Mission (AIM) with Self -Employment and Talent Utilization (SETU) Program of NIT....
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....I Aayog * Harnessing private sector expertise for setting up incubators * Setting up of 7 new research parks modeled on the Research Park at IIT Madras * Launching of innovation focused programs for students. * Annual Incubator Grand Challenge to promote good practices among incubators. ii. Credit Guarantee Fund The initiative provides for creating a credit guarantee fund for startups th....
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....rough National Guarantee Trust Company (NCGTC)/SIDBI with a Corpus of ₹ 500 crore per year for the next four years. With this Action Plan the Government hopes to accelerate spreading of the startup movement: From digital/technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, education, etc; and From existing tier 1 cities to tier 2 an....
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....d tier 3 cities including semi-urban and rural areas. The Action Plan envisages setting up of 7 New Research Parks modeled on the Research Park at IIT Madras at IITs in Guwahati, Hyderabad, Kanpur, Kharagpur, Bangalore, Gandhinagar and Delhi and setting-up/scaling-up of 18 Technology Business Incubators (TBI) at NITs/IITs/IIMs etc. as per the funding model of DST. This information was given by t....
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....he Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha.<BR> News - Press release - PIB....