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Start Up India Scheme (It provides: (( Simple Compliance Regime for…
Start Up India Scheme
It provides:
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Providing funding support through a Fund of Funds with a corpus of Rupees 10,000 crore
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Launch of innovation hub through Atal Innovation Mission (AIM) with Self –Employment and Talent Utilization (SETU) Program of NITI Aayog
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It aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive for growth of Start-ups
However, in the case of Startups in the Biotechnology sector, the period shall be up to 10 years.
The annual turnover should also not exceed INR 25 crore in any preceding financial year and Entity should not have been formed by splitting up or reconstructing a business already in existence
According to the scheme, an entity headquartered in India shall be considered as a Startup up to 7 years from the date of its incorporation/ registration
The Swaniyojan Yojana will be funded by the existing National Rural Livelihood Mission of the rural development ministry
Rural India's version of Startup India was named the Deen Dayal Upadhyay Swaniyojan Yojana, which is developed by Rural development ministry backed by MUDRA loans
The initiative is also aimed at promoting entrepreneurship among SCs/STs, women communities