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2019-07-04

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Indian Economy
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Ministry of Commerce & Industry

Impact of Start up India

Posted On: 03 JUL 2019 5:02PM by PIB Delhi

A formal mechanism has been put in place in form of Monitoring Committee to review progress of Startup India programme on regular basis. The Monitoring Committee comprises representative from Department for Promotion of Industry and Internal Trade (DPIIT), NITI Aayog, Department of Revenue (Ministry of Finance), Ministry of Micro, Small and Medium Enterprises, Department of Science and Technology (Ministry of Science and Technology), Department of Bio-Technology (Ministry of Science and Technology), Ministry of Electronics and Information Technology, Department of Higher Education (Ministry of Human Resources Development) and Small Industries Development Board of India (SIDBI). The Monitoring Committee continuously reviews progress & implementation of various measures for growth of startup ecosystem.

In order to meet the objectives of the Startup India initiative commenced on 16th January 2016, Government of India announced Action Plan containing 19 Action Points. The progress made with respect to each Action Point is given below:

 

S.No.

Item

 

Simplification and Handholding

Progress

  1. 1.

Compliance Regime based on Self-certification

Startups recognised under Startup India initiative can self-certify their compliance against 6 labour and 3 environment laws

  1.  

Startup India Hub

  • Dedicated team setup under Invest India (not for profit facilitation arm of the Ministry of Commerce and Industry)
  • 1,38,170 queries addressed by the Startup India team
  • One-on-One Facilitation: The Startup India Team has been able to facilitate 682 cases till 31st May, 2019
  • Engaged with 100+ Venture Capitalist and angel networks having deal flow arrangement with most of them
  • Mapped out 177 incubators, 360 mentors and 71 accelerators
  • Deal flow arrangement with banks including Union Bank, Yes Bank, Axis Bank, etc.
  1.  

 Rolling out of Mobile App and Portal

  • 3,18,506 users registered on the Startup India Portal
  • 19,247 Startups recognized by Department for Promotion of Industry and Internal Trade (DPIIT)
  • 9 International bridges established to established market opportunities for Startups in the respective countries
  • 2,39,136 aspiring and existing entrepreneurs registered for the course
  • 3,157 mentor, investor and incubator connections established through the portal for Startups
  • 123,000+ monthly visits on the portal
  • 112 Innovation Hunts and programs hosted on the Startup India portal by various government departments and corporates. Total of 8,159 applications received through these programs.
  1.  

Legal Support and Fast-tracking Patent Examination at Lower Costs

  • Startups are eligible for 80% rebate in patent filing fees and 50% rebate in trademark filing fees. Additionally, Startups will also be considered for expedited examination of patent applications to reduce time taken in granting patents.
  • 425 Patent facilitators and 606 Trademark facilitators have been empanelled under this scheme to provide free-of-charge services to Startups.
  • 1496 patent applications have been granted 80% rebate on filing fee.
  • 2761 trademark applications have been granted 50% rebate on fill fee.
  • 389 applications were granted expedited examination and 103 patents were granted.
  1.  

Relaxed Norms of Public Procurement for Startups

  • Public procurement norms relaxed for startups through exemptions on (November 2016)
    • Prior turnover criteria; and
    • Prior experience criteria

Applicable on all tenders issued by Central Ministries and Central Public Service Undertakings (CPSUs)

  • Startups exempt from submitting Earnest Money Deposit requirements (July 2017)
  • GeM Startup Runway launched – dedicated corner for startups to sell products & services to Government (February 2019)
    • 1,862 Startups registered
    • 7,697 procurement orders worth Rs. 275 Crore received
  1.  

Faster Exit for Startups

  • MCA has notified Startups as “Fast track firms”
  • Enabling them to wind up operations within 90 days vis-a-vis 180 days for other companies

Funding Support and Incentives

 

  1.  

Providing Funding Support through a Fund of Funds with a Corpus of Rs. 10,000 crore

  • Twice of Govt. contribution received by venture funds is invested into DPIIT recognised startups
  • Small Industries Development Bank of India (SIDBI) has committed Rs. 3123.20 crore to 49 SEBI registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of Rs. 27,478 crore.
  • Rs. 483.46 core have been drawn from the SIDBI Fund of Funds
  • Rs. 1625.73 crore have been invested into 247 startups.
 

Credit Guarantee Fund for Startups

The earlier Cabinet Note on Credit Guarantee Scheme for Startups has been withdrawn and the Department is under process of re-drafting the cabinet note keeping in view the suggestions of SIDBI.

9.

Tax Exemption on Capital Gains

Section 54EE and 54 GB have been inserted in the Income-tax Act, 1961 to provide exemption from capital gains tax.

10.

Tax Exemption to Startups for 3 years

149 start-ups have been benefited under this incentive

11

Tax Exemption on Investments above Fair Market Value

 689 startups have been benefitted under this   incentive

Industry-Academia Partnership and Incubation

 

12.

Organizing Startup Fests for Showcasing Innovation and Providing a Collaboration Platform

The Department is planning to organize Global Startup Conclave 2020 in February, 2020 which will be a 4 days mega global event like SLUSH, CES, Web Summit with an aim to position India as the next startup destination.

13.

Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilization (SETU) Program

  • 8,878 Schools selected for setting up Atal Tinkering Labs
    • Rs. 20 Lakhs will be given to each school over 5 years.
    • Rs. 12 Lakhs / school disbursed to 3,020 schools
  • 102 Incubation Centres selected
    • Rs. 10 crore to be given to each centre over 5 years.
    • Rs. 57.68 crore disbursed to 31 New Incubation Centres
    • Rs. 38.91 crore  disbursed to 8 Established Incubation Centres
  • 24 Atal New India Challenges conducted
    • 951 applications received; 54 shortlisted

14.

Harnessing Private Sector Expertise for Incubator Setup

Atal Innovation Mission

102 Incubation Centres selected

  • Rs. 10 crore to be given to each centre over 5 years.
  • Rs. 57.68 crore  disbursed to 31 New Incubation Centres
  • Rs. 38.91 crore  disbursed to 8 Established Incubation Centres

24 Atal New India Challenges conducted

  • 951 applications received; 54 shortlisted

15.

Building Innovation Centres at National Institutes

DST

  • Rs. 18.69 Crore disbursed to 11 Incubators
  • 15 Startup Centres have been approved; 10 centres received a grant of Rs. 3.75 Lakh

DBT

  • Rs. 195.90 Crore disbursed as a grant-in-aid to 4 bio-clusters
  • Rs. 174.26 Crore disbursed to 41 Bio-incubators through BioNEST
  • Rs. 6.23 Crore has been disbursed to 4 BIRAC Regional Centres
  • Rs. 150 Crore fund setup as a Fund of Funds to Bio-incubators
  • Rs. 8.5 Crore disbursed to 13 Bio-incubators (BIRAC SEED FUND)

16.

Setting up of 7 New Research Parks Modeled on the Research Park Setup at IIT Madras

8 Universities have been selected for setting up Research Parks identified with total sanction amount of Rs. 680 Crore

Rs. 233 Crore has been disbursed to following Research Parks

  • IIT Delhi
  • IIT Kanpur
  • IIT Gandhinagar
  • IIT Mumbai
  • IIT Guwahati
  • IIT Kharagpur
  • IIT Hyderabad
  • IISc Bangalore

17.

Promoting Startups in the Biotechnology Sector

DBT

  • Rs. 195.90 Crore disbursed as a grant-in-aid to 4 bio-clusters
  • Rs. 174.26 Crore disbursed to 41 Bio-incubators through BioNEST
  • Rs. 6.23 Crore has been disbursed to 4 BIRAC Regional Centres
  • Rs. 150 Crore fund setup as a Fund of Funds to Bio-incubators

Rs. 8.5 Crore disbursed to 13 Bio-incubators (BIRAC SEED FUND)

18.

Launching of Innovation Focused Programs for Students

NIDHI (National Initiative for Developing and Harnessing Innovations)

  • Grand challenge conducted to promote entrepreneurship amongst student community
  • 224 Applications received; out of 30 finalists selected, 12 student run teams awarded Rs. 10 Lakh each

 

 

Uchchatar Avishkar Yojana

  • 148 projects sanctioned in Uchchatar Avishkar Yojna
  • Rs. 220.75 Crore released under the UAY scheme

MANAK (Million Minds Augmenting National Aspiration and knowledge)

  • Rs. 10,000 granted to 1,03,497 students in the last 3 years under the MANAK Scheme

19.

Annual Incubator Grand Challenge

This activity is being coordinated by NITI Aayog

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This information was given by the Minister of Commerce and Industry, Piyush Goyal, in a written reply in the Lok Sabha today.

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MM

 



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