In order to make the life of entrepreneurs easy and for giving a huge push to Startup India campaign, the Department of Industrial Policy and Promotion (DIPP) is going to launch a dedicated portal (and a mobile app) for startups this week. The portal will let the startups avail all the incentives provided by the government.
What Would This Portal Do?
The portal will also provide all the information about incubation facilities and the tax benefits that the government will offer to the startups. Through this portal the startups can get themselves registered within 24 hours and be validated as eligible startup entities.
Startups can also use this portal as a single point of contact for applying to various schemes under the government’s ‘Startup India’ plan while getting information about various kinds of clearances, approvals, and registrations. Thus this portal will help in creating conducive environment for startups.
“This is part of our effort to create a conducive environment for startups. It will facilitate easy exchange of information between all stakeholders,” said a senior official.
DIPP would also equip the portal to let the founders register their startup under India’s Company’s Act.
Thus the portal would help in bringing together a lot of startup-related entities ranging from incubators, accelerators, VCs, seed capital and angel investment funds, and various government functionaries.
The government had also announced a 12-point action plan to encourage the startups in the country. The plan contains various incentives for startups like greater access to capital, incubation and appropriate talent for these upcoming corporations. PM Modi had also announced 3 year tax holiday for startups, tax exemption for capital gains, and funds worth Rs. 10,000 crore for startups.
To make the lives of entrepreneurs easier, the government has announced that the startup companies won’t face any inspection during the first three years of their operations. Startups would also be able to issue themselves a self-certified certificate w.r.t. to nine labour and environment laws.
Govt Portal & Dedicated Mobile App for Startups
PM Narendra Modi had mentioned about a portal and a dedicated app for startups while announcing the Startup India Action Plan in January this year. The portal is live at http://startupindia.gov.in/
While the portal has gone live, the dedicated startup focused mobile app will go live at 5pm on 1st April 2016 (today)!
All these incentives when coupled together are poised to take the startup ecosystem in India to the next level. If you are an entrepreneur then do let us know your thoughts about these incentives and the upcoming DIPP’s portal.
