10 Govt. Scheme for Startups in Bharat

By Campus Varta

Atal Innovation Mission (AIM)

Atal Innovation Mission (AIM) is Government of Bharat's flagship initiative to foster innovation and entrepreneurship in schools, colleges and society at large and promote a culture of innovation and entrepreneurship in the country.

Startup India Seed Fund Scheme

The Startup India Seed Fund Scheme (SISFS), a flagship scheme under Startup India initiative has been approved with a corpus of Rs 945 crore for a period of 4 years starting from 2021-22

Startup India Action Plan

An action Plan for Startup India was unveiled on 16th January 2016 which laid the foundation of Government support, schemes and incentives envisaged to create a vibrant startup ecosystem in the country

Ease of Procrement

Government e-Marketplace (GeM) Startup Runway has been developed which is a dedicated corner for startups to sell products and services directly to the Government

Support for Intellectual Property Protection

Government launched Start-ups Intellectual Property Protection (SIPP) which facilitates the startups to file applications for patents, designs and trademarks through registered facilitators in appropriate IP offices by paying only the statutory

Self-Certification under Labour and Environmental laws

Startups are allowed to self-certify their compliance under 9 Labour and 3 Environment laws for a period of 3 to 5 years from the date of incorporation

Credit Guarantee Scheme for Startups (CGSS)

The Government has established the Credit Guarantee Scheme for Startups for providing credit guarantees to loans extended to DPIIT recognized startups by Scheduled Commercial Banks, Non-Banking Financial Companies(NBFCs) and Venture Debt Funds(VDFs) under SEBI registered Alternative Investment Funds

Income Tax Exemption for 3 years

Startups incorporated on or after 1st April 2016 can apply for income tax exemption. The recognized startups that are granted an Inter-Ministerial Board Certificate are exempted from Income-tax for a period of 3 consecutive years out of 10 years since incorporation

The Pradhan Mantri MUDRA Yojana

PMMY was launched in 2015 by PM Modi with the aim to facilitate easy collateral-free micro credit of up to Rs 10 Lakh to non-corporate, non-farm small and micro entrepreneurs for income generating activities

States' Startup Ranking Framework (SRF)

States'  Startup Ranking Framework is a unique initiative to harness strength of competitive federalism and create a flourishing startup ecosystem in the country