Takeaway: Startups in India are emerging faster than ever. It is all because of advancement in technology and simpler process. All you need is a good idea, and all the other things will follow you along. Many startup news is trending, stating the government’s plan about the startups in India.

To encourage growth and help the Indian economy, there are many benefits offered to startup entrepreneurs.

Chandigarh is also emerging as the startup hub. This is contributing to the increase in coworking space in Chandigarh.

 

Simple process

The Government of India has launched a mobile app and website for easy registration. If you are interested in setting up a startup can fill out a simple form on the website and upload some documents. The whole process is completely online.

 

Cost reduction

The government also provides a list of patents and trademarks. They will provide high-quality Intellectual Property Rights Services services, including a quick patent examination. The government will carry all the money for the organizers, and the start will only carry the official funds. They will enjoy an 80% reduction in patent costs.

 

Easy access to finance

The government has set up a fund of 10,000 crore rupees to fund startups as the capital of engagement. The government also guarantees lenders to encourage banks and other financial institutions to provide cash.

 

Tax holiday for three years

Startups will be exempt from tax for three years as long as they receive a certificate from the Inter-Ministerial Board (IMB).

 

Apply for tenders

Getting started can apply for government tenders. They are exempt from the “previous experience/profit” documents applicable to ordinary companies that respond to government tenders.

 

R&D centers

Seven new Research Parks will be set up to provide resources for the R&D sector.

 

No compatibility takes time.

The various guidelines have been simplified to get started to save time and money. Startups will be allowed to verify compliance (via the mobile startup app) with nine labor laws and three environmental laws (for a list of white industry companies eligible to submit – click here ”)

 

Tax saving for investors

People who invest their proceeds from establishing business finances by the government will be exempt from earning money. This will help to start attracting more investors.

 

Choose your investor

After this program, the startup will have an option to choose between VCs, giving them the freedom to choose their investors.

 

 Easy exit

 If you leave – Launch may close its business within 90 days from the date of application.

 

Meet other entrepreneurs

The government has proposed catching the first two fish nationally and internationally to engage with various stakeholders. This will provide greater opportunities for social networking.

So what is stopping you from launching your startup? Think about an out-of-the-box plan and get set go!

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