Diverse in nature and turn of events, India now looks to a more thrilling and elevated tomorrow. It was the 69th Independence Day, Prime Minister Narendra Modi announced the Start‐Up India initiative at Delhi. It has been 6 months down the line he has kicked off the initiative and unveiled its historic plan of action. This initiative has brought lots of positivity among the entrepreneurs in India. Research declares that India is elated to be the third largest nation in terms of start‐ups. With the help of the Government, a new organization can not only transform their ideas into actions resulting in increasing jobs in India.
The Government is said to build a portal and a mobile app that will enable all start‐ups to register their company within one day. This portal will serve as a single point of contact for each and everything within the vicinity of your business be it approvals, registrations, schemes, etc. The movement walks with tons of benefits and has dozens of policy innovations to nurture more creative start‐ups. Modi government has in mind, a number of good to go set of activities for this initiative.
For you to know, below mentioned are a number of points that will uphold our living.
1. To relax registration procedures for start‐ups and thereby making it easier for their them to start of quickly
2. In order to promote their growth and profit, start‐ups set up after April 1, 2016 will be freed paying their tax for the initial period of 3 years; conditional to the non‐distribution of the dividend.
3. There would also be quicker exits for start‐ups. Those who couldn’t sustain longer, may wound up within a period of 90 days from filling an application for winding up on fast track basis.
4. Patent protection has always been in the highlights for business, hence the Government will make IPG procedures transparent for start‐ups. There would be a panel of facilitators to provide legal assistance in filling out the application.
5. This Start‐up India hub would not only serve as a single point of contact for the beginners but will also help obtain finances and organize mentorship programs to encourage knowledge exchange.
6. Launching the Atal Innovation Mission for entrepreneurship promotion via sector specific incubators, training, seeding to fund high growth start‐ups, etc.
7. Funds worth Rs 10,000 crore that would provide support for development and growth of innovation driven start‐ups.
8. With the help of innovation focused programmes, the National Initiative for Developing and Harnessing Innovations program will support and award Rs 10 lakhs to 20 student innovations from Innovation and Entrepreneurship Development Centres.
We believe this movement as one of the best in our country as it embodies India’s regeneration.
Being treated the way you want to be, is what makes a difference. While we define success, it’s not just making money but also being happy with the ability to give and receive.
Considering the sumptuous number of people, with a knack of following mobile technology, it’s easy to assume that technology will lead our ecosystem and these measures will result beneficial to each one of us.
This scheme is aimed at the informed and ambitious general public and will see a good response in the coming days.
Now that the start‐ups have spoken up and the message has been heard, Modi will do and say more.
The best is on its way….
Originally published at iauro.com on February 8, 2016.