We all know that India is going through a pandemic situation and employment in India is gradually decreasing by much larger figures. In this article today, we shall share with you all the details regarding the Startup India scheme which will help all of the youth of India to discover new employment opportunities and also create new employment opportunities. In this article, we shall share with you all the details about the Startup India Scheme. Mainly we will share the detailed Action Plan of this scheme. Through this article, you will be able to apply for the scheme yourself and without any other help or problem.
What is the Startup India Scheme 2024
The government of India welcomes the Startup India Scheme to help all youngsters. This is the administration’s lead conspire for developing organizations in India which were propelled on 16 January 2016. The principal point of this Start-Up activity is to advance a new company, drive reasonable financial development, and make openings for work. The main benefits of the implementation of this scheme will be provided to all of the unemployed youth of the country. The scheme will help all of the people to create their employment opportunities.
Objectives Of the Startup India Scheme
This Startup India Scheme benefits incorporate DIPP acknowledgment, a learning program, access to government plans for new business, interfacing with specialists, Startup India Hub, and direction from guides. The primary center is to produce work to open doors for young people and to change jobless people from work searchers to work makers. This activity has a 19-Point Startup India Action Plan which imagines a few hatching communities, simpler patent recording, charge exceptions, simplicity of setting-up of business, Rs. 10,000 crore corpus finance, and quicker leave instrument.
Details Of the Startup India Scheme
| Name | Startup India Scheme 2024 |
| Launched by | Government Of India |
| Beneficiaries | The unemployed youth of India |
| Objective | Providing start-up funding |
Features Of the Startup India Scheme
The following features are present in the Start-Up India scheme as presented by the government:-
- Through the scheme, there will be easier compliance, an easier exit process for failed startups, legal support, fast-tracking of patent applications, and a website to reduce information asymmetry.
- The startups under the scheme will be exempted from Income Tax and Capital Gains Tax
- There will be the availability of funds to infuse more capital into the startup ecosystem and a credit guarantee scheme.
- The creation of numerous incubators and innovation labs, events, competitions, and grants will be made possible through the scheme.
Benefits Of The Scheme
There are a lot of benefits that will be provided to the people through the procedure of the scheme:-
- The scheme will help in Self Certification – Compliance under 9 environmental & labor laws.
- Some of the start-ups will be exempted from taxations Tax Exemption
- There is an Income Tax (IT) exemption for 3 consecutive years and exemptions on capital gains and investments above Fair Market Value.
- The scheme will help in the easy winding up of a company that is within 90 days under the Insolvency & Bankruptcy Code 2016.
- Availability of fast track & up to 80% rebate in filing patents.
- Exemption on EMD and minimum requirements and get listed as a seller.
- There will be the availability of funds for investment into startups through Alternate Investment Funds.
- A free online entrepreneurship program will be available to help people in the development of skills needed to start their own businesses.
- You can also learn design methodologies to carry your service/ product one step ahead.
- Classes will be given to building your own app and website
- You can get knowledge of AWS to manage cloud infrastructure.
- You will be able to understand economics concepts which can assist in taking strategic decisions.
- Knowledge will also be given from legal and accounting standpoints.
- You can also browse through Government Schemes
- You can also network with other Startups
- You can find synergies from a pool of over 30,000 Startups & entrepreneurs.
- Basic Talk to Investors will be provided
- You will be provided guidance from Mentors, from a pool of over 200+ and growing active mentors.
- Through a host of industry experts and corporates on the hub, you can find your mentor.
Startup India Scheme Eligibility Criteria
To apply for the startup India scheme you must follow the following eligibility criteria which are mentioned below:-
- The company through which you are applying for the steam must be a private limited company or a limited liability partnership.
- Company must be a new company.
- The company must not be older than 5 years.
- The company’s turnover should not exceed 25 crores.
- The company must be approved by the Department of Industrial Policy and Promotion (DIPP).
- The company should be funded by an Incubation fund, Angel Fund or Private Equity Fund.
- The firm should have obtained a patron guarantee from the Indian Patent and Trademark Office.
- The company must have a recommendation letter by an incubation.
- The company must be providing creative products or goods
- Angel funds, Incubation funds, Accelerators, Private Equity Funds, and Angel networks must be registered with SEBI
Startup India Scheme Action Plan
If you want to check the action plan of the startup scheme then you will have to follow the simple procedure given below:-
- First, you have to visit the official website of the startup India scheme
- On the home page, you have to click on the option called Scheme and Policies present at the menu.
- The drop-down list will be displayed on your screen
- Click on explore more option
- A new website will be displayed on your screen
- Click on the option called Action Plan
- The PDF of the actions and will be displayed on your screen
- You can also directly click here to go to the PDF
Startup India Scheme Registration Procedure
If you want to register yourself at the start of India scheme then you will have to follow the simple procedure given below:-
- First, you have to visit the official website of startup India scheme
- On the homepage of the website, click on the “Profile” section present in the top right corner
- Click at the “Register” button to apply online for Startup India Scheme
- The registration page will be displayed on your screen
- Fill up all the details
- Finally, click at the “Register” button to complete the registration process.
- Login using your credentials
- Select your country
- Upload your documents