Sunday, 17 January 2016

Modi's start up action plan..highlights!

Highlights of Startup Action Plan-
1) Income Tax exemption for first 3 years
2) Fund of Rs. 10,000 crore (with 2,500 crore each year) to be invested in Startups in next 4 years and a Credit Guarantee Fund for Rs. 500 crore each year for next 5 years.
3) Capital Gain exemption if Startups invest capital by selling their personal assets.
4) 80% Rebate in registering Patent
5) Easy Exits in 90 days
6) Self-certification compliances
7) No kind of Inspection for first 3 years
8) Incubation programme to be started in 5 Lac Schools and setting up of 35 new Incubation Centres
9) No Govt intervention in Startups
10) A scheme for Women Entrepreneur to be announced soon
11) A group of lawyers to be setup who will help resolving Patent related problems for free
12) 7 New Research Parks to be started  with a fund of Rs. 100 crore each
13) Organising Startup Fest all over India and abroad regularly.
14) Mobile App based registration for Startups from April 1, 2016.
15) Atal Innovation Mission (AIM) for encouraging Innovation among Startups