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The government of India has launched a mobile app and a website for easy registration for startups. Anyone interested in setting up a startup can fill up a simple form on the website and upload certain documents. The entire process is completely online.
The government also provides lists of facilitators of patents and trademarks. They will provide high-quality Intellectual Property Right Services including fast examination of patents at lower fees. The government will bear all facilitator fees and the startup will bear only the statutory fees.
A 10,000 crore rupees fund is set up by the government to provide funds to the startups as venture capital. The government is also giving guarantees to lenders to encourage banks and other financial institutions for providing venture capital.
Startups will be exempted from income tax for 3 years provided they get a certification from Inter-Ministerial Board (IMB).
People investing their capital gains in the venture funds setup by the government will get exemption from capital gains. This will help startups to attract more investors.
the startups will have an option to choose between the VCs, giving them the liberty to choose their investors.
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