Tax exemptions for three years and concessions on capital gains tax.- A fund of Rs. 10,000 crore to back startups. Initially the corpus will be Rs. 2,500 crore. Also, a credit guarantee fund for startups.
- There will be a Startup India hub which will act as a single point of contact for interactions with the government.
- Atal Innovation Mission (AIM) for promotion of research and development including 500 tinkering labs, 35 public-private sector incubators, 31 innovation centers at national institutes, 7 new research parks, 5 new bio-clusters.
- Compliance regime based on self-certification and no regulatory inspection for three years.
- 90 days for a startup to close down its business.
- 80 per cent reduction in patent filing fee and fast-track mechanism for startup patent applications. Also, a panel of legal facilitators for startups to file IP (patents, designs, trademarks) with costs borne by government.
- Relaxed norms of public-procurement for startups. No requirement of turnover or experience, but no relaxation in quality.
- 5 lakh schools and 10 lakh students to be involved in core innovation programmes. National and international startup festivals to provide visibility.
- A mobile app to be launched on April 1 making it possible to register startups in one day.
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