image source : https://knowstartup.com/
Points to understand Modi Government new startup initiative :
- 80% reduction in patent application of startups.
- No Govt. inspection for 3 yrs
- Self certification in compliance for start ups.
- Easier closure of business and insolvency (90 days exit plan) Bankruptcy bill -2015 to be introduced in parliament.
- Credit guarantee fund scheme will be introduced.
- Tax incentives will be introduced.
- Tax exemptions on capital gains.
- Sell on property to start a startup will be exempted for capital gains.
- Profit of startup for 3 years will be free from tax.
- Special provision for women entrepreneurs to be introduced.
- Exemption investment above fair market value.
- Launch of Atal innovation mission platform.
- Sector specific incubators will be launched.
- Pre incubation will be introduced.
- Start up will be provided with seed capital.
- Innovation award to encourage startups and entrepreneurs will also be given.
- Mobile app from April 1 2016 will be introduced.
- 13 startup centers will be introduced.
- 100 crores to research centers and IIT’s will be given.
- Biotechnology will be given boost.
- Student innovation programme will be introduced at school level.
- Incubator grand challenges: 10 world best incubators will be provided with Govt. funding of 10 crores rupees.
- Startup fests will be started and promoted by Govt. in order to provide visibility to new startups at national and international level.
