Scheme for new Entrepreneurs

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..... Scheme for new Entrepreneurs
News and Press Release
Dated:- 14-3-2016

Press Information Bureau Government of India Ministry of Commerce & Industry 14-March-2016 17:33 IST An Action Plan has been prepared for 22 sectors under 'Make in India' initiative to promote new entrepreneurs in the country. An Investor Facilitation Cell has been created in Invest India to assist and handhol .....

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..... d investors. Further, a Startup Action Plan has been released by the Government to create a conducive environment for startups in India which includes:- a. Simplification and Handholding · Simple Compliance Regime for startups based on Self-certification · Launch of Mobile app and Portal for compliance and information exchange · Startup India Hub to handhold startups duri .....

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..... ng various phases of their development · Legal support and fast-tracking patent examination at reduced costs · Relaxed norms of public procurement for startups · Faster exit for startups b. Funding support and Incentives · Providing funding support through a Fund of Funds with a corpus of ₹ 10,000 crore · Credit guarantee fund for startups · T .....

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..... ax exemption on capital gains invested in Fund of Funds · Tax exemption to startups for 3 years c. Industry-Academia Partnership and Incubation · Organizing Startup Fests to showcase innovations and providing collaboration platforms · Launch of Atal Innovation Mission (AIM) with Self -Employment and Talent Utilization (SETU) Program of NITI Aayog · Harnessing priva .....

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..... te sector expertise for setting up incubators · Setting up of 7 new research parks modeled on the Research Park at IIT Madras · Launching of innovation focused programs for students. · Annual Incubator Grand Challenge to promote good practices among incubators. This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry S .....

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..... mt. Nirmala Sitharaman in a written reply in Lok Sabha today. ********* RC/nb
News - Press release - PIB .....

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