5210 02-Apr-2019, Tue
Startup India Movement launched on 16th January 2016 for promotion of Entrepreneurship among youth.
- Action plan unveiled for encouraging startups.
- Tax relief for three consecutive years out of a block of seven year for startups.
- Start-up Fund of Rs. 10,000 Crore to be released over two Finance Commission cycles, that is, by 2025.
- Startups are allowed to issue ESOPs to promoters working as employees
- 4536 Startup applications have been recognized as Startups by DIPP as on 12th October, 2017
- 74 Startups have been approved by IMB for availing tax benefit
- 450+ Startups have been mentored for incubation and funding support by Startup India Hub
Start-up India, a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities.
In order to meet the objectives of the scheme, the corporation has taken following initiatives:
- Nurturing Creativity and Innovation by institutionalizing Meritorious Innovation Awards
- Transferred about 120 technologies to various entrepreneurs/ Start-ups, contributing significantly to Start up India
- NRDC is assisting DIPP in evaluating the innovation content in the start-up applications for recognizing start-ups and recommending the eligible start-ups for tax exemption and other benefits.
- Designated by DIPP as Government Facilitator for IP filings for Start-Ups
- Partnered with MoMSME-UNIDO (GCIP) for evaluating the award proposals for innovativeness
- Managing and Monitoring Indian Oil and GAIL Start-up Scheme
- NRDC organized a Contest for Demonstrating Innovative Prototypes for Start-Ups during the two-day NRDC annual conference on “Leveraging Innovation Ecosystem for Accelerating Start-ups”.