startup india

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23 Points to understand Modi Government new startup initiative :

  1. 80% reduction in patent application of startups.
  2. No Govt. inspection for 3 yrs
  3. Self certification in compliance for start ups.
  4. Easier closure of business and insolvency (90 days exit plan) Bankruptcy bill -2015 to be introduced in parliament.
  5. Credit guarantee fund scheme will be introduced.
  6. Tax incentives will be introduced.
  7. Tax exemptions on capital gains.
  8. Sell on property to start a startup will be exempted for capital gains.
  9. Profit of startup for 3 years will be free from tax.
  10. Special provision for women entrepreneurs to be introduced.
  11. Exemption investment above fair market value.
  12. Launch of Atal innovation mission platform.
  13. Sector specific incubators will be launched.
  14. Pre incubation will be introduced.
  15. Start up will be provided with seed capital.
  16. Innovation award to encourage startups and entrepreneurs will also be given.
  17. Mobile app from April 1 2016 will be introduced.
  18. 13 startup centers will be introduced.
  19. 100 crores to research centers and IIT’s will be given.
  20. Biotechnology will be given boost.
  21. Student innovation programme will be introduced at school level.
  22. Incubator grand challenges: 10 world best incubators will be provided with Govt. funding of 10 crores rupees.
  23. Startup fests will be started and promoted by Govt. in order to provide visibility to new startups at national and international level.