Page 35 - NIS English January 16-31,2023

National Startup Day Nation

Reforms for boosting startups STARTUPS CREATED AROUND
9 LAKH JOBS
The government is working on many fronts to ease the path of There are more than 86 thousand
startups. Organization of Hackathons and Challenges, giving recognized startups in India.
tax exemptions and various incentives, assisting in trade mark According to the self-reported
and patent registration have been undertaken to bring sweeping information given by these
reforms in the sector. Mapping in the space sector, improvements startups to the government, more
have been made in the drone sector, which has opened up new than 8.6 lakh direct jobs have
opportunities in many areas. been created in this sector.
DIGITAL INDIA GENESIS WILL
Regulatory Reforms: Since Startup India: The Way Ahead SUPPORT NEXT GENERATION
2016, the government has – Launched on January 16, STARTUPS
undertaken 52 regulatory 2021 the program covers the
reforms to enhance ease of major role of technology in Digital India Genesis has been
doing business and reduce implementing various reforms launched to strengthen all
compliance burden. and enabling Digital Self-reliant startups, including startups
from Tier-2 and Tier-3 cities of
Support for Intellectual Property India. the country, which will provide
Protection: Startups are given Special provisions on GeM: complete support to the next
80% rebate in filing patents and Special provisions made on the generation of startups. It is
50% rebate in filing trade marks. GeM portal by the Government a High Impact Digital Driven
Income tax exemption: Startups of India to provide market to National Platform which will
incorporated on or after April 1, startups, more than 15 thousand provide startups with the facility
2016 are exempted from income startups have registered to the of incubation, mentorship, market
tax for 3 years. portal. access as well as seed funding.

Startup India Hub: Startup Startup India Seed Fund
India Online Hub is a one-stop Scheme: Scheme launched
destination for investors, funds, with a corpus fund of Rs 945 India is a young nation with
incubators, corporates and crore for 4 years from the year a wide creative spirit. We are
government bodies. 2021-2022. Information about among the top startup hubs in
Credit Guarantee Scheme: the scheme can be taken on the the world. The startup spirit is
portal www.startupindia.gov.in.
In the scheme for providing what sets our country apart from
credit guarantee to startups, Fund of Funds for Startups: the rest of the world. Thousands
loan guarantees are given to Launched with Rs 10,000 crore of youth are tapping India's
recognized startups up to a to meet the funding needs of talent pool with new startups and
specified amount. startups at all levels. unicorns.
-Narendra Modi, Prime Minister

startups in the country. The startup word was also is the reason why the G-20 Summit, chaired by India,
not very popular but in a short span of only 7 years, has formed Startup20, a participatory group to give
the world of startups has seen incredible growth an international platform to Indian startups. The
and progress. With over 86,000 startups recognized world is looking at India's startups as the future. The
across 656 districts in the country, we are the third launch of a private rocket by ISRO for the first time
largest startup ecosystem in the world. The value of in the country is a testimony to the liberal policy of
the total startups recognized is above 330 billion. startups in India. India is striving to create a startup
Every 8-10 days a startup is turning into a unicorn. ecosystem based on the mantra of the pillars – Of
More than 105 unicorns have been created in the the Youth, By the Youth, For the Youth. Whatever we
country. Prime Minister Narendra Modi considers do on the strong foundation of a developed India in
the new century as the hallmark of digital revolution Amrit Kaal, the future of New India will be decided,
and new age innovations. Startup is his priority. This the direction of the country will be decided.

New India Samachar January 16-31, 2023 33