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Startup India
Startup India is an initiative launched by the Government of India to foster entrepreneurship and promote the growth of startups in the country. It aims to create a conducive ecosystem for startups through various measures such as simplifying regulations, providing financial support, offering tax benefits, facilitating access to funding and mentorship, and promoting innovation and job creation. The initiative includes programs and schemes designed to support startups at different stages of their development, with a focus on fostering innovation, scalability, and sustainability in key sectors of the economy.
Startup India eligibility requires registration as a recognized entity, being within seven years of incorporation, having a turnover below ₹100 crore, demonstrating innovation and scalability, and obtaining certification from the Inter-Ministerial Board.
- Tax Exemptions
- Ease of ComplianceAccess to Funding
- Incubation and Mentorship
- Government Procurement
- Innovation Hub
- Networking Opportunities
- Intellectual Property Protection
- Skill Development
- Global Exposure
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Startup India Seefund Scheme
The Startup India Seed Fund Scheme provides early-stage funding of up to ₹20 lakhs and ₹50 lakhs to eligible startups for proof of concept, prototype development, and market entry. Startups must meet specific criteria and apply through the designated portal. The fund aims to support innovation, scalability, and the growth of startups in India.
- Recognized by DPIIT and incorporated within the past 2 years.
- Must have a business idea with market fit, commercialization potential, and scalability.
- Should incorporate technology in its core product, service, or business model.
- Preference given to startups innovating in sectors like social impact, waste management, healthcare, etc.
- Should not have received more than Rs 10 lakh in monetary support from government schemes.
- Indian promoters must hold at least 51% shareholding in the startup at the time of application.
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Tax exemption under section 80IAC
Tax exemption under Startup India provides eligible startups with income tax benefits for the three consecutive years of operation in first ten year. This incentive aims to reduce the financial burden on startups and encourage entrepreneurship by allowing them to retain more earnings for reinvestment and growth.
- The entity should be a recognized Startup
- Only Private limited or a Limited Liability Partnership is eligible for Tax exemption under Section 80IAC
- The Startup should have been incorporated after 1st April,2016
