MANU/PIBU/0559/2016

Department/Board : Press Information Bureau

Date : 20.07.2016

'START-UP INDIA'-Coverage and Eligibility

Till date 728 applications have been received in the Startup India portal. Out of them, 180 applications are complete and have been recognized as startups by Department of Industrial Policy and Promotion (DIPP). Only 16 applicants are incorporated after 1.04.2016 and are thus eligible for consideration for tax benefits, as per the Finance Act 2016. The applications for tax benefits are examined by the Inter-Ministerial Board. 3 applications were considered and one has been recommended for tax benefit in the 2nd Inter Ministerial Board meeting held on 28.06.2016.

Startups have been defined vide Notification No. 180(E) dated 17th February, 2016 of this Department. To increase the coverage of Startups in the country under the Startup India Action Plan the following steps have been taken:-

(i) Startup India Hub: Startup India Hub has been set up to resolve queries and provide handholding support to Startups. To seek clarifications pertaining to Certificate of Recognition as a "Startup", Certificate of Eligibility to avail tax benefits, information on incubators or funding, one can get in touch with the Hub on Toll-Free number: 1800115565 or email: id dipp-startups@nic.in. Dedicated professionals are handling over 200 queries per day. DIPP has requested State governments and administration of Union Territories to set up hub as well as incubators to help Startups during various stages of their life cycle.

(ii) Startup Recognition: Till date (18.7.2016), 728 applications have been received for Startup Recognition. Out of them, 180 applications are complete and are recognised as a startup by DIPP. For remaining applications, Startup India Hub provides handholding support to facilitate recognition of more and more Startups.

(iii) Chief Secretaries of all States and Administrators of all Union Territories have been requested to partner with DIPP in taking the Startup India initiative forward;

(iv) Top 50 companies in India have been requested to contribute towards strengthening the incubation facilities in the country through their Corporate Social Responsibility (CSR) initiatives;

(v) List of recognized incubators has been augmented to provide more avenues to Startups to obtain mentoring support. 20 industry bodies and organisations have been recognized by DIPP who will assess the innovative nature of Startups and provide certificates to enable them to get recognition from DIPP.

(vi) For incubators to get recognition by Government of India a module to recognize incubators has been launched. This will allow them to issue recommendation letters to Startups.