STARTUP INDIA HUB - Status Report

STARTUP INDIA HUB

Startup India Hub was operationalised on 1st April 2016 to resolve queries and provide handholding support to Startups. The hub has been able to resolve 23,290 queries received from Startups through telephone, email and Twitter. To seek clarifications pertaining to Certificate of Recognition as a “Startup”, Certificate of

Eligibility to avail tax benefits, seeking information on incubators or funding, one can get in touch with the Hub on Toll-Free number: 1800115565 or email: id dipp-startups@nic.in

LEARNING

Startup India Hub would soon be launching an interactive online learning and development module to educate Startups and aspiring entrepreneurs, through various stages of their entrepreneurial journey. The learning and development module shall be made available through the Startup India portal

RECOGNITION

1231 applications have been received for out of which 428 had the required documents and have been recognised as Startups by DIPP. Rest of the applicants will be provided guidance and support to submit the relevant documents by the Startup India Hub. Out of the total applications received, 99 applications can be considered for tax benefits as only these Startups have been incorporated after April 1, 2016. Out of the 99 applications, all have been considered by the IMB and 5 Startups have been approved for availing tax benefits.

RECOMMENDATION BY INCUBATORS

A maximum fee of INR 5,000 can be charged by the incubators for providing Letter of Recommendation to Startups. In cases where external expert(s) is/are required to assess the innovativeness of a product/service/ process, a maximum fee of INR 10,000 can be charged by the incubators.

AUGMENTING INCUBATORS

In order to augment the existing list of incubators, a module to recognise incubators has been launched. This shall enable incubators to obtain recognition from the Government of India which will allow them to issue recommendation letters to Startups. For more details, visit the link: http://startupindia.gov.in/recognition.php

FACILITATORS

A panel of facilitators has been constituted for providing assistance and support in filing applications for Intellectual Property Rights (IPR), wherein, Department of Industrial Policy and Promotion (DIPP) would bear the facilitation cost.

To avail IPR-related benefits (rebate in fee and free of cost facilitation in filing IPR applications), a Startup would not be required to obtain a Certificate of Eligibility from the Inter-Ministerial Board of DIPP (a Certificate of Recognition of DIPP would suffice).

To get the list of facilitators, visit:



TAX EXEMPTION

The Finance Act, 2016 has made provision for Startups to get income tax exemption for 3 years in a block of 5 years, if they are incorporated between 1st April 2016 and 31st March 2019. To avail these benefits one must get a Certificate of Eligibility from the Inter-Ministerial Board of DIPP.

Tax exemption on investments above Fair Market Value have been introduced for investments made in Startups (as per definition). For details, visit link:



EXEMPTION FROM COMPLIANCES

Startups falling under the list of 36 “white” category industries have been exempted from all the applicable compliances under 3 Environment Laws viz. The Water (Prevention & Control of Pollution) Act, 1974; The Water (Prevention & Control of Pollution) Cess (Amendment) Act, 2003 and The Air (Prevention & Control of Pollution) Act, 1981. To get the list of “white” category industries, visit link:


In order to further incentivize Startups by provision of ease in regulatory compliances, the Apprentices Act, 1961 has been amended. To get details, visit link:


RELAXED NORMS OF PROCUREMENT

Relaxed norms on prior experience and turnover for public procurement for micro and small enterprises have been provisioned in the Procurement Policy of Ministry of MSME. To get details, visit link:




ENABLER

The Insolvency and Bankruptcy Code 2016 has been published in the Gazette. Once the code is notified, Startups shall be able to wind up their business within a period of 90 days from making an application for the same.

A 'fund of funds' of INR 10,000 crores for Startups has been established which shall be managed by SIDBI. The fund will invest in SEBI registered Alternative Investment Funds (AIFs) which, in turn, will invest in Startups. Thus, this fund will act as an enabler to attract private capital in the form of equity and quasi-equity for Startups.

RESEARCH PARKS, TECHNOLOGY BUSINESS INCUBATOR& STARTUP CENTERS

7 proposals for Research Parks, 15 proposals for TBIs and 14 proposals for Startup centres have been recommended by the National Expert Advisory Committee (NEAC) formed by MHRD. These proposals shall be implemented in the current financial year.

COLLABORATION

DIPP will write to top companies to request them to support the initiative by setting up new incubators or scale up existing incubators in collaboration with educational institutes.

HUB AND SPOKE MODEL

DIPP has requested State Governments and administration of Union Territories to set up Startup Hub as well as incubators to help Startups during various stages of development.

Source: http://startupindia.gov.in
Download Link of this report: http://startupindia.gov.in/uploads/pdf/Status_Report.pdf

Startup India

Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country. Under this initiative a Startup India Portal has been set up which shall serve as a platform for facilitation of Startup recognition, access to information related to incubators, mentors, Angel Funds, Venture Funds etc.
As a step ahead, Government is looking forward to provide advertisement space for Startups on the Startup India portal. If you are a Startup and wish to advertise your product/ services, send the requisite information to them.
Many many thanks to respected Narendra Modi Sir.
Website: Startup India

Ways to make your Standees/Banners attention grabbing (Best places to keep your standees)

Printing as a technology has existed for many centuries and still manages to dominate the media. There are numerous ways for businesses to increase their sales via means of print ads – namely standees or banners. Standees, if used correctly, can draw a lot of attention from passersby and have a direct impact on sales.

Standees or banners can be printed in different shapes and sizes. A lot of creativity can be used while ensuring that the standee you have chosen is the right one for your business. Banner making is part of graphic design and today’s designers use state of the art technology for your banner to look the best. However, there are certain places where you can make sure that your standee “stands out”.

Outside the store

This is a sure shot but easiest method to make sure that people do not just walk past your establishment. If your business is located in an area with a lot of footfall, walk-ins can be one of the primary methods of roping in customers. In order for them to stop and notice your store, standees can be set up right outside, pointing potentials into the store. These standees can be creative – be it with respect to shape, size or even lights strung around the standee.

Crowded markets

Many people in markets or bazaars come there just to have a look and walk around. This gives businesses a great opportunity to seize their attention and market their products. Standees or banners can be used at market places and it depending on your creativity, it can be placed anywhere strategically. Due to the sheer number of people in bazaars, you are sure to get many people getting a second look at your print ad.

Public Transport

Hoards of people use the public transport on a daily basis. Millions of people use the metro all around the country and even more use buses. Public transport is void time for most people trying to get to their destination and this can be used as an excellent opportunity to place your banners. Ticket counters, bus seats, in-train screens; there are many ways to get creative and make sure that many people are looking at your brand/product on a daily basis.


Websites

Nowadays, people around the world are connected through the Internet. Social media and e-commerce websites dominate the internet with the maximum number of people logging on to these kinds of websites. Most, if not all, websites allow for banners to be placed for advertising purposes. Depending on your business, you may choose a website in a similar industry and choose to run your ad there in case the clicks on that website are high. It is definitely a great way to receive like-minded customers who may be very well interested in your product or service.

Printstop is a one-stop shop for all your corporate printing services. There are multiple designs to choose from and banner printing can be done in a jiffy. You can either provide us with custom designs or choose from a wide range of shapes and sizes so that our print meets all the requirements for your standee. It is very important for companies to make sure that the standees or banners they print are of good quality and look professional. We at Printstop strive to provide customers with the best quality standee banner printing so that an unattractive print ad is not the reason why you lose out on business.