Startups are growing very widespread in India. The government beneath the authority of PM Narendra Modi has begun and developed Startup India.
To encourage growth and boost the Indian economy, numerous advantages are being provided to entrepreneurs building startups.
Easy process
The government of India has started a mobile app and a website for simple registration for start-ups. Anyone aspiring to establish a startup can fill up a simple form on the website and update necessary documents. The whole process is completely online.
Decline in price
The government also offers facilitators a list of trademarks and patents. They will produce superior Intellectual Property Rights Services comprising a speedy examination of licenses at cheaper expenses. The government will own all facilitator charges and the startup will bear only the legal fees. They will enjoy an 80% decline in the cost of filing patents.
No time-consuming compliances
Various agreements have been analyzed for startups to spare time and money. Startups shall be entitled to self-certify assent with 9 labour and 3 environment laws
Tax saving for buyers
People investing their capital gains within the venture funds installation using the government will get an exemption from capital profits. This will help startup to attract extra traders
Apply for tenders
Startups can apply for authorities’ tenders. They are exempted from the “earlier experience/turnover” standards relevant for normal agencies answering to authorities tenders because it will provide the satisfactory excellent al fewer fees.
Choose your investor
After this plan, the startups could have an option to select between the VCs, giving them the freedom to choose their traders.
Easy access to Funds
A 10,000 crore rupees fund is about-up through the authorities to provide finances to the startup as mission capital. The authorities are likewise giving a guarantee to the lenders to encourage banks and different financial establishments for presenting project capital.