19 exciting plans for start-ups:

                     

19 EXCITING PLANS FOR START-UPS:

On the last Independence Day, Prime Minister Narendra Modi had introduced

 the Start-up India, Stand Up India’ initiative.

On January 16, Prime Minister Narendra Modi unveiled a 19-point action plan for start-up 

enterprises in India. He also announced a self-certification scheme related to nine labour and

 environment laws. He also said that there would be no inspection of the enterprises during the

 first three years of the launch.

Modi has announced an all-inclusive action plan to boost such ventures that would boost

 employment generation and wealth creation.

Here are the 19 plans Modi has for start-ups:

1. Self-certification : The start-ups will adopt self-certification to reduce the regulatory liabilities. 

The self-certification will apply to laws including payment of gratuity, labour contract, provident 

fund management, water and air pollution acts.

2. Start-up India hub : An all-India hub will be created as a single contact point for start-up foundations 

in India, which will help the entrepreneurs to exchange knowledge and access financial aid.

3. Register through app : An online portal, in the shape of a mobile application, will be launched to help 

start-up founders to easily register. The app is scheduled to be launched on April 1.

4. Patent protection : A fast-track system for patent examination at lower costs is being conceptualised by 

the central government. The system will promote awareness and adoption of the Intellectual Property Rights

 (IPRs) by the start-up foundations.

5. Rs 10,000 crore fund : The government will develop a fund with an initial corpus of Rs 2,500 crore and

 a total corpus of Rs 10,000 crore over four years, to support upcoming start-up enterprises. The Life Insurance

 Corporation of India will play a major role in developing this corpus. A committee of private professionals

 selected from the start-up industry will manage the fund.

6. National Credit Guarantee Trust Company : A National Credit Guarantee Trust Company (NCGTC) is 

being conceptualised with a budget of Rs 500 crore per year for the next four years to support the flow of funds

 to start-ups.

7. No Capital Gains Tax : At present, investments by venture capital funds are exempt from the Capital Gains

 Tax. The same policy is being implemented on primary-level investments in start-ups.

8. No Income Tax for three years : Start-ups would not pay Income Tax for three years. This policy would

 revolutionise the pace with which start-ups would grow in the future.

9. Tax exemption for investments of higher value : In case of an investment of higher value than the market 

price, it will be exempt from paying tax

10. Building entrepreneurs : Innovation-related study plans for students in over 5 lakh schools. Besides, there

 will also be an annual incubator grand challenge to develop world class incubators.

11. Atal Innovation Mission : The Atal Innovation Mission will be launched to boost innovation and encourage

 talented youths.

12. Setting up incubators : A private-public partnership model is being considered for 35 new incubators and 

31 innovation centres at national institutes.

13. Research parks : The government plans to set up seven new research parks, including six in the Indian 

Institute of Technology campuses and one in the Indian Institute of Science campus, with an investment of 

Rs 100 crore each.

14. Entrepreneurship in biotechnology : The government will further establish five new biotech clusters, 

50 new bio-incubators, 150 technology transfer offices and 20 bio-connect offices in the country.

15. Dedicated programmes in schools : The government will introduce innovation-related programmes for

 students in over 5 lakh schools.

16. Legal support : A panel of facilitators will provide legal support and assistance in submitting patent

 applications and other official documents.

17. Rebate : A rebate amount of 80 percent of the total value will be provided to the entrepreneurs on 

filing patent applications.

18. Easy rules : Norms of public procurement and rules of trading have been simplified for the start-ups.

19. Faster exit : If a start-up fails, the government will also assist the entrepreneurs to find suitable solutions 

for their problems. If they fail again, the government will provide an easy way out.