PM announces Start-up India, Stand-up India campaign
15 Aug 2015
- In his second Independence day address to the nation, PM Narendra Modi gave the mantra of 'Start-up India, Stand-up India' to encourage entrepreneurship and job-creation in the country.
- The PM called for making India the global leader in start-ups by facilitating innovation and providing easy finance options and incentives.
- He laid special emphasis on encouraging bank finances for the start-ups by the underprivileged.
Government launches Start-up India
17 Jan 2016
- Prime Minister Narendra Modi launched the much awaited 'Start-up India' programme to make India a start-up hub in the world.
- The event saw big names from the start-up world filling up the Vigyan Bhawan, where the initiative was launched.
- Masayoshi Son, CEO Softbank, Uber's Travis Kalanick, Snapdeal's Kunal Bahl, Flipkart's Sachin Bansal and Ola's Bhavish Agarwal, among others, were present during the ceremony.
Start-up Action Plan
- The government announced several initiatives for start-ups including, compliance based on self certification, mobile apps for registration of start-ups, income tax exemption for 3 years and exemption from capital gains tax.
- In addition, a ₹10,000cr corpus fund, ₹500cr/year credit guarantee and 80% rebate on patent application fees were also announced
- The government also intends to build innovation centers in universities to foster innovative entrepreneurship.
Government divulges uniform 'startup definition'
23 Feb 2016
- The government gave a uniform definition to 'startups', in which, an establishment would be considered a startup only for the first five years from its registration date.
- Further, the annual turnover of the establishment shouldn't exceed ₹25 crore in any of these five years.
- In addition, the government stated that organizations which are formed by diverging or reconstructing existing enterprises wouldn't be considered 'startups'.
'Start-up India' to be revamped
21 Jun 2016
- The Indian government's plan to boost entrepreneurship through the 'Startup India' programme is due for an overhaul to improve participation .
- Sources said, fewer than the expected number of start-ups applied for government recognition and only one made the cut for provision of incentives.
- Subsequently, the Department of Industrial Policy and Promotion decided to improve the 'Startup India' platform so it attracts more companies.
Rs.10,000 crore 'Fund of Funds' approved for startups
23 Jun 2016
- The government has approved a Rs.10,000 crore 'fund of funds' for start-ups in India.
- The decision was taken at a recent Cabinet meeting chaired by PM Modi.
- The fund is expected to generate employment for over 18,00,000 individuals and also fund companies at the seed stage, early stage and growth stage.
- The Small Industries Development Bank of India will manage the fund.
IIFT introduces an incubation cell for export start ups
19 Jul 2016
- MSME Minister Kalraj Mishra inaugurated KITTES (Knowledge for Innovation in Trade and Technology for Entrepreneurial Start-ups) at IIFT Delhi on Monday.
- The incubation cell aims to provide support towards expansion of existing domestic business into international markets.
- Its advisory body will consist of industrialists, venture capitalists, technical specialists and managers.
- IIFT will also facilitate in mobilizing of loans, building awareness and export promotion measures.
Govt approves electronics development fund of Rs.6,831 crore
12 Feb 2017
- IT minister Ravi Shankar Prasad said government had approved Rs.681 crore as seed-capital for manufacturing, from a total corpus of "Rs.6,800 crore under the electronic development fund" which would support entrepreneurship/innovation in electronics.
- He said investments in electronic manufacturing and mobile handset production had risen to Rs.1,27,880 crore from just Rs.11,000 crore and the manufacturing capacity has increased to 11 crore from 6 crore.
PM Modi: Start-up India, Stand up India' should be our mantra; aim to be No.1 in startups - timesofindia-economictimes
PM Narendra Modi's dream project 'Startup India' to be revamped to woo more participants - The Economic Times
Make In India: Govt approves electronics development fund of Rs 6,831 crore | Latest News & Updates at Daily News & Analysis
Start Up India action plan: Here are the promises PM Modi has made to budding entrepreneurs | Latest News & Updates at Daily News & Analysis