On 16th January 2016, Government Of India launched a scheme named as "Startup India" that will encourage the budding entrepreneurs to start their work with the help of government and guidance as well. In the starting phase, 18 states were registered for Startup India programme which now with time increases to 27 states and 3 Union Territories. Let us take a look at this programme and its implication and benefits for a younger generation.
This programme was launched for improving the structure of the entrepreneur system & ease in starting a startup. Earlier when someone has to start their company, they have to raise funds and has to give taxes as per regular terms and conditions that result in failure of the startup or unable to expand their services due to financial and guidance restriction. Now in the modern time, the growth of Startup increases the potential growth of the country as well as increases the foreign investment and led to more employment positions for the country.
After observing several factors Government of India launched this scheme whose action plan works on the 3 pillars:-
1) Simplification and Handholding
2) Functioning support and Incentives
3) Industry-Academia Partnerships and Incubation.
The main objective resides in the factors that the new startup should be provided with better facilities and guidance that will help them grow their business and provide employment for themselves as well as other people of the country. With this new scheme, entrepreneurs have the support of state government, central government as well as banks that definitely attracts more foreign investments chances. Some of the key factors that are involved are discussed here,
1) 10000 Crores is the amount that is provided for the Startup by Government.
2) Reduction in patent registration fees.
3) Improved Bankruptcy code.
4) Freedom from mystifying inspection for an initial 3 years.
5) Freedom from Capital Gain Tax for an initial of 3 years.
6) Freedom from Tax for an initial of 3 years.
7) IPR Protection
These key factors help startup whose annual turnover is less than ₹25 Crore and give them guidance to increase their productivity. This will help India ranking in Startup Hub that will lead to more trust and investment in the country.
Startup Policy and implementation have 13 number of action points which comprises of 17 scores.
Incubation Support consists of 20 scores.
It is divided into 6 groups ie.
1) Best Performer ( Percentile 100)
2) Top Performer ( Percentile equals to 85 or greater but less than 100)
3) Leaders ( Percentile =70 or >70 but less than 85)
4) Aspiring Leaders ( Percentile =50 or >50 but less than 70)
5) Emerging Leaders ( Percentile =25 or >25 but less than 50)
6) Beginners ( Percentile <25)
2nd Group- Karnataka, Kerala, Odisha, Rajasthan
3rd Group- Andhra Pradesh, Bihar, Chhatisgarh, Madhya Pradesh, Telangana
4th Group- Haryana, Himachal Pradesh, Jharkhand, Uttar Pradesh, West Bengal
5th Group- Assam, Punjab, Delhi, Tamil Nadu, Goa, Uttarakhand, Jammu&Kashmir, Maharastra
6th Group- Chandigarh, Sikkim, Manipur, Tripura, Mizoram, Nagaland, Puducherry
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After observing several factors Government of India launched this scheme whose action plan works on the 3 pillars:-
1) Simplification and Handholding
2) Functioning support and Incentives
3) Industry-Academia Partnerships and Incubation.
The main objective resides in the factors that the new startup should be provided with better facilities and guidance that will help them grow their business and provide employment for themselves as well as other people of the country. With this new scheme, entrepreneurs have the support of state government, central government as well as banks that definitely attracts more foreign investments chances. Some of the key factors that are involved are discussed here,
1) 10000 Crores is the amount that is provided for the Startup by Government.
2) Reduction in patent registration fees.
3) Improved Bankruptcy code.
4) Freedom from mystifying inspection for an initial 3 years.
5) Freedom from Capital Gain Tax for an initial of 3 years.
6) Freedom from Tax for an initial of 3 years.
7) IPR Protection
These key factors help startup whose annual turnover is less than ₹25 Crore and give them guidance to increase their productivity. This will help India ranking in Startup Hub that will lead to more trust and investment in the country.
Startup States Ranking 2018
Ranking provided by Department of Industrial Policy & Promotion (DIPP) with an objective of encouraging competition between the states and promoting startup ecosystem. This ranking is concluded on 7 pillars with 38 pointers. This was done in February.Startup Policy and implementation have 13 number of action points which comprises of 17 scores.
Incubation Support consists of 20 scores.
It is divided into 6 groups ie.
1) Best Performer ( Percentile 100)
2) Top Performer ( Percentile equals to 85 or greater but less than 100)
3) Leaders ( Percentile =70 or >70 but less than 85)
4) Aspiring Leaders ( Percentile =50 or >50 but less than 70)
5) Emerging Leaders ( Percentile =25 or >25 but less than 50)
6) Beginners ( Percentile <25)
RANKING Of STATES 2018
1st Group- Gujarat2nd Group- Karnataka, Kerala, Odisha, Rajasthan
3rd Group- Andhra Pradesh, Bihar, Chhatisgarh, Madhya Pradesh, Telangana
4th Group- Haryana, Himachal Pradesh, Jharkhand, Uttar Pradesh, West Bengal
5th Group- Assam, Punjab, Delhi, Tamil Nadu, Goa, Uttarakhand, Jammu&Kashmir, Maharastra
6th Group- Chandigarh, Sikkim, Manipur, Tripura, Mizoram, Nagaland, Puducherry
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