PM Launches Start-up India Movement

  • Gayathri Mathivanan
  • |
  • January 20, 2016, 1:56 AM


 

The Prime Minister visited virtual exhibition and interacted with entrepreneurs. 10 outstanding Start-up innovators shared their thoughts and experiences previous to the Prime Minister delivered his address.
 

Prime Minister said successful start-ups are usually created by those who are driven by an idea, or an urge to solve a problem that public face. He said “I urge all entrepreneurs to create companies that solve India’s problems and create jobs”.
 

The Prime Minister unveiled the highlights of the Start-up Action Plan. He said a dedicated Start-up fund worth Rs. 10,000 crore will be created for funding of Start-ups.
 

Top take-aways from the PM's speech 
 

  • Tax exemption for start-ups for 3 years.
  • Rs. 10,000 crore fund to support start-ups.
  • Capital gains tax to be exempted for venture capital investments.
  • 80% reduction in patent filling fee.
  • Govt. to ensure 90-day window for start-ups to close businesses.
  • Self-certification compliance for start-ups across India.
  • No government inspection for 3 years for newly-formed start-ups.
  • New scheme to provide IPR protection to start-ups and new firms.
  • Government is all set to launch an app to create a platform for interaction with start-ups

 

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