Incubators to be Blacklisted
As it is it was going to be bureaucratic hassle for start up to be qualified for benefits through inter ministerial board. Now on top of that incubators will be blacklisted if they make a mistake in judging a start up. So all the more tough for a start up. So much for Start Up India. Local Circle, TIE, CII, Start Up India please rationalize this with DIPP.
The department of Industrial Policy and Promotion (DIPP) said that an incubator must satisfy itself about the innovative nature of a startup's business before certifying it as fit to receive government incentives or it will be blacklisted from any benefits.
Prime Minister Narendra Modi in January announced a start-up action plan, exempting them from income tax for three years to address their working capital requirements. “The exemption shall be available subject to non-distribution of dividend by the start-up."
Essentials to be identified as a Startup by the Government:
Registered in India
Annual Revenue must not exceed Rs 25 Crores
Working towards innovation, development Deployment or commercialization of new products, services driven by tech.
If a startup falls under the above definition they will be exempted from six labour laws and threen green laws for a period of three years to reduce regulatory burden. Free legal support will also be provided in filing IPR and their patent applications at lower costs.
The DIPP has constituted an inter-ministerial board to vet proposals and find out the eligible start-ups for government incentives. more
The department of Industrial Policy and Promotion (DIPP) said that an incubator must satisfy itself about the innovative nature of a startup's business before certifying it as fit to receive government incentives or it will be blacklisted from any benefits.
Prime Minister Narendra Modi in January announced a start-up action plan, exempting them from income tax for three years to address their working capital requirements. “The exemption shall be available subject to non-distribution of dividend by the start-up."
Essentials to be identified as a Startup by the Government:
Registered in India
Annual Revenue must not exceed Rs 25 Crores
Working towards innovation, development Deployment or commercialization of new products, services driven by tech.
If a startup falls under the above definition they will be exempted from six labour laws and threen green laws for a period of three years to reduce regulatory burden. Free legal support will also be provided in filing IPR and their patent applications at lower costs.
The DIPP has constituted an inter-ministerial board to vet proposals and find out the eligible start-ups for government incentives. more
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Mr. Vijayan's views are correct. We will innovate ONLY if there is a pressure. Otherwise, most of the people want to be in safe zone, which will result in waste of resources and lack of competence. I would like to point out one issue: Most of our educational institutions in Tier-2 and Tier-3 cities are not mentoring the students to be practical and innovative. They just train them to get marks, solve mathematical puzzles, and get through interviews. After joining the jobs, they struggle to understand the domain and practical issues. They view the job just as a paying machine, not a passion. With this kind of resources, startups will really struggle to grow in the competition. more
Apr 03
I am unable to understand that why incubators can be set up only in I.I.Ts and why they should not be put up in institutes like CRRIT, I.e Rural Institute of Technology which have ground level knowledge and solutions For the new start up in the Rural Areas more
Apr 03
How long are Indian companies going to produce the same old inefficient costly old products.Indian companies had no inventions, new products.IIt&IIm have not produced 1 new technology except tweeked software.New young Indians from west trained have increased innovation.Young softwre companies using Java, microfoft, oracle platforms are building new techs.World is moving to better new efficient products.Using old techs is money, power, time loss.China is a huge inventor in electronics, softwatre now after 20 years of being trained by west?S.korea/japa/Taiwan companies.India lost,industrial,electrical.electronic, biotech leadership.Give 5 years to PM ideas, you can see better products. Our large companies have foreigntie ups, has anything been created by large companies? The build business only.Future economy, wealth is in new techs,India has trade deficits of 10 billion$every month for last 10 years! Has any IIM,IIT, RBI,Economists like MMS said any thing on this? Give chance to youth.TIE,CII have not invented a new tech, only followed US, japan,West. Record is zero. neu US trained soft ware Indian companies are exeception.PM wants this in manufacturing now. DIPP is corrrect- only new techs get incentives, not old tech branches of old companies. more
Apr 03
Mr Kaushik Vyas has correctly pointed out the lacunas !! I too support his views and am sure even if some success is achieved it would not be free of favouritism and political influencing !! more
Apr 03
A few years back, none heard about computers. Today so many things can be done on line easily. So the changes whether it is in Income tax forms or whatever, if it helps it has to come. more
Apr 03
