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 |
|
|
Compliance Regime based on Self-certification |
Startups recognised under Startup India initiative can self-certify their compliance against 6 labour and 3 environment laws |
|
Startup India Hub |
|
|
Rolling out of Mobile App and Portal |
|
|
Legal Support and Fast-tracking Patent Examination at Lower Costs |
|
|
Relaxed Norms of Public Procurement for Startups |
Applicable on all tenders issued by Central Ministries and Central Public Service Undertakings (CPSUs)
|
|
Faster Exit for Startups |
|
Funding Support and Incentives |
|
|
|
Providing Funding Support through a Fund of Funds with a Corpus of Rs. 10,000 crore |
|
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The earlier Cabinet Note on Credit Guarantee Scheme for Startups has been withdrawn and the Department is under process of re-drafting the cabinet note keeping in view the suggestions of SIDBI.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 |
|
14. |
Harnessing Private Sector Expertise for Incubator Setup |
Atal Innovation Mission 102 Incubation Centres selected
24 Atal New India Challenges conducted
|
15. |
Building Innovation Centres at National Institutes |
DST
DBT
|
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
|
17. |
Promoting Startups in the Biotechnology Sector |
DBT
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)
Uchchatar Avishkar Yojana
MANAK (Million Minds Augmenting National Aspiration and knowledge)
|
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