How Startup-India Scheme has Facilitated the Growth of Startup | Schemes( upsc) Champions camp

How Startup-India Scheme has Facilitated the Growth of Startups in India?

Various programs undertaken by the Government of India to promote startups under Startup India initiative has facilitated this growth:

Startup India Action Plan: It comprises of 19 action items spanning across areas such as Simplification and handholding, Funding support and incentives and Industry- academia partnership and incubation.

The Action Plan laid the foundation of Government support, schemes and incentives envisaged to create a vibrant startup ecosystem in the country.

Startup India Hub: It is a one of its kind online platforms for all stakeholders of the entrepreneurial ecosystem in India to discover, connect and engage with each other.

The Online Hub hosts Startups, Investors, Funds, Mentors, Academic Institutions, Incubators, Accelerators, Corporates, Government Bodies and more.

Income Tax Exemption for 3 years: Startups incorporated on or after 1st April 2016 Ministerial Board Certificate are exempted from income-tax for a period of 3 consecutive years out of 10 years since incorporation.

Startup India Seed Fund Scheme (SISFS): It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

International Market Access to Indian Startups: Startup India has launched bridges with over 15 countries (Brazil, Sweden, Russia, Portugal, UK, Finland, Netherlands, Singapore, Israel, Japan, South Korea, Canada, Croatia, Qatar and UAE) providing a soft- landing platform for startups from the partner nations and aid in promoting cross collaboration.