Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design.
The action plan of Startup India is based on the following factors:
This initiative simplifies the work for the new entrants in order to motivate them. This includes following steps taken by the government:
Firstly, the government has set-up Startup India hubs where all the works related to incorporation, registration, grievance handling, etc.
Secondly, an application and an online portal is set-up by the government to facilitate registration from anywhere and anytime.
Thirdly, the patent acquisition and registration is now fast for the startups.
In order to motivate the startups, the government provides various financial supports.
- Certificate of Incorporation
- Proof of trademark registered or applied
- Proof of patent Registered or applied
- Website link of the company
- Articles of Association of the Company
- Intellectual Property Assignment Agreement
It is a one stop platform where startups and investors interact with other and exchange information, ideas.
Any entity having atleast one registered office in India is welcome to register on the hub as location preferences, for the time being are only created for Indian states. However, Startup India Portal are currently working on international relations and will soon be able to enable registration for stakeholders from the global ecosystem.
Investing in startups is a risky proposition, but the low requirement for overhead capital combined with high upside potential, makes it lucrative for investors to put their bets on startups.
For registering as Start up one need to register itself on www.startupindia.gov.in and after obtaining login credentials one can proceed to submit the application.
Investors particularly venture capitalists (VCs) add value to startups in a lot of ways:
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