List of benefits announced for start up by prime minister Narendra modi.

Start up India and Stand up india is the terms used by our honourable prime minister mr. Narendra modi while announcing benefits to the start ups in India. On 16th jan,2016 Room was full with energy and passion giving push to the start up in India and spreading energy across india through live webcast of the event.

Here are some key points of PM’s Startup India campaign you must Know

1. Compliance regime based on self-certification. Labour laws – no inspection for 3 years

2. Startup India hub – single-point contact (‘friend, mentor, guide’)

3. Mobile app to be launched on April 1: registration of startup company in one day | Also portal for clearances, approvals and registrations

4. Fast-track mechanism for startup patent applications

5. Panel of legal facilitators for startups to file IP (patents, designs, trademarks) – costs borne by gov

6. 80% rebate on filing of patent applications by startups, as compared to other companies

7. Relaxed norms of public-procurement for startups. No requirement of turnover or experience, but no relaxation of quality

8. Faster exits for startups (Insolvency and Bankruptcy Bill), eg: wind up within 90 days

9. Fund of funds – initial corpus – INR 2,500 crore, later on 10,000 crore

10. Credit guarantee fund for startups

11. Tax exemption on capital gains

12. Tax exemption to startups for 3 years to promote growth

13. Atal Innovation Mission:sector-specific incubators, 500 tinkering labs, pre-incubation training,seed fund for high-growth; PPP model being considered for 35 new incubators; 31 innovation centres at national institutes, 7 new research parks like IIT-M. 5 new bio-clusters

14. Innovation Core Programs for school students in 5 lakh schools

15. Annual Incubator Grand Challenge to create world class incubators in India

16. National and International Startup Festivals to provide visibility