The Government of India has launched a Startup India Initiative as their flagship scheme to
promote innovative ideas and incentivize the entrepreneurs for setting up their ventures. These
programs are managed by a dedicated Startup India Team, which reports to the Department for
Industrial Policy and Promotion (DPIIT).
The concept of Start-up has emerged to encourage entrepreneurship and innovation. An idea
which is a result of out of the box thinking, backed by a successful development and execution
plan are provided support both by financial assistance and handholding till the idea is
transformed into a tangible output in a timely manner. Special emphasise is given to start up
projects which has significant impact and implication to the business and society.
The Government in its efforts to developing an effective Start-up ecosystem, has launched a
Startup India Initiative as their flagship scheme to promote innovative ideas and incentivize the
entrepreneurs for setting up their ventures. These programs are managed by a dedicated Startup
India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT).
Major benefits under the Startup India Initiative :
- Benefit of self-certification of compliance for major Labour Laws and Environmental Laws through a simple online procedure
- Startups which fall under the 'white category' as defined by the Central Pollution Control Board (CPCB) would be able to self-certify compliance
- Subsidised framework to apply for Patents, Trademarks, Designs - an 80% rebate in filing patents vis-a-vis other companies
- Exemption from Income Tax – subject to fulfilment of specified conditions