Govt Implementing Steps Fast To Boost Startup Ecosystem: DIPP


NEW DELHI: The government is moving on fast to implement the Start-up India programme, with ministries like environment and labour putting in place mechanisms to ensure speedy clearances, senior officials said on Thursday.

Department of Industrial Policy and Promotion (DIPP) secretary Ramesh Abhishek launched a portal and a mobile app on the start-up India programme, which will provide up-to- date information on various notifications/ circulars issued by various ministries and departments “towards creation of a conducive ecosystem for start-ups”.

The portal and mobile app provide information regarding incubators and funding agencies recognized for the purpose of recommending start-ups (as part of start-up recognition application).

A comprehensive list of FAQs is also available to help start-ups, incubators and funding agencies use the portal and mobile app more effectively, Abhishek said.

DIPP has also set up an inter-ministerial board to verify the eligibility of start-ups opting to avail tax and IPR related benefits and to provide a certificate of eligibility to innovative start-ups, Abhishek said.

Speaking about the implementation of measures announced in the action plan for start-ups in January, Shailendra Singh, joint secretary in the DIPP, said the labour ministry has issued the advisory regarding self-certification to all the states. Similarly, the environment ministry too has issued the relevant circulars to help start-ups.

Singh said the DIPP will also help start-up by providing them legal assistance on areas like intellectual property rights. It has identified a panel of lawyers for this purpose and the fees for that service would be mostly borne by the government. “Start-ups have to pay only the statutory fees, which are very miniscule,” he said.

The government has also set up the start-up India Hub, which will act as a single point of contact for the entire start-up ecosystem and enable knowledge exchange and access to funding.

For faster exit from a business, Singh said the bankruptcy Bill is in Parliament. Even the Funds of Funds, mooted to help start-ups, has already been declared in the Budget and accordingly Rs 2,500 crore each year would be released over four years to SIDBI. Already some Rs 1,100 crore has been released to SIDBI.

On organising start-up fest for showcasing innovation, he said at the national level it would be organised in June and at the international level in November.

Details and guidelines of the Atal Innovation Mission is expected to be released in April by NITI Aayog. To ensure professional management of government sponsored/funded incubators, government is in the process of bringing in a policy and a framework for setting up incubators across the country.

In January, Prime Minister Narendra Modi unveiled a slew of incentives to boost start-up businesses, offering them a tax holiday and inspector raj-free regime for the initial three years, capital gains tax exemption and Rs 10,000 crore corpus to fund them.

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Source: PTI