Jamshedpur: Chief Minister of Jharkhand, Raghubar Das has appealed the youths belonging to Scheduled Castes and Scheduled Tribes to become job creators through the Startup India Action Plan. There is a shortage of bus services in rural areas of the state, for which 400 buses will be provided to y…
Tag: Startup India Action Plan
Qualification tweaked: Start-up India benefits to now flow for 7 years
New Delhi: The government has introduced minor changes to the startup definition, saying a business not older than seven years will now qualify for benefits under the Startup India Action Plan. So far, only companies up to five years from the date of incorporation were eligible for concessions un…
With the latest approval from Cabinet, govt shows continued support to Startup India plan
Start-ups that qualify under the Startup India plan will now get an added boost from the central government as the Union Cabinet approves the Commerce Ministry’s proposal of Alternative Investment Funds (AIFs) funding at least twice the amount as that of the Fund of Funds for Start-ups (FFS) – wh…
Start-ups to get more money as Cabinet gives nod to Rs 1k cr fund
The Union Cabinet chaired by Prime Minister Narendra Modi on March 22 approved Rs 1,000-crore initial corpus for the Fund of Funds for Start-ups (FFS), which was established in June last year. According to the Cabinet decision, Alternate Investment Funds (AIFs) supported by FFS shall invest at le…
Startup India report card: Culture of entrepreneurship in the making
The Prime Minister had announced the ambitious Startup India Action Plan in January 2016, and it has been a boost to the startup ecosystem. The program, by design, seems perfect to support the startup culture in India, promising to provide solutions to many hurdles a startup faces along with a sy…
2 new Indian start-up focused reality shows lined up for TV
Indian television is soon going to see two new reality shows focused on Indian startups. While, one will be aired on state-run channel, Doordarshan, the other will be seen on youth centric channel MTV. Government’s stand gets more ‘real’ In tandem with the Indian Prime Minister Narendra Modi-led …
Move afoot to ease norms for VC funding in start-ups
New Delhi: The Department of Industrial Policy and Promotion has moved a cabinet note that seeks to ease venture capital funding norms for startups and relax the definition of a startup to include older biotechnology and medical device companies. The DIPP has suggested these changes be incorporat…
Govt’s credit guarantee scheme to give start-ups a loan lifeline of up to Rs 5 cr
Start-ups will soon be able to take loans of up to Rs 5 crore without collateral through a credit guarantee scheme prepared by the government. The scheme is awaiting cabinet approval and is likely to become functional soon under the supervision of the Department of Industrial Policy and Promotion…
Budget 2017 may spring sweet surprises for start-ups
Prime Minister Narendra Modi’s flagship project, Startup India, might get a push in upcoming Union Budget. According to some media reports, to guarantee the success of the key program, the Department of Industrial Policy and Promotion (DIPP) is designing a new set of tax concessions on empl…
SIDBI readies money for more startup funds
The Small Industries Development Bank of India (Sidbi) is set to review ten proposals from alternative investment funds seeking a commitment of Rs 675 crore from the Fund of Funds for Startups (FFS) announced by PM Modi in the Startup India Action Plan. Sidbi’s Venture Capital Investment Co…