What Is The Startup-India Initiative?
Updated: 11-04-2025 at 3:31 PM
1k
Innovation and new ideas go a long way in helping a nation achieve prosperity and fully develop itself. For a long time now, India has been an ‘outsourcing’ hub for multinational companies that made huge revenues by extracting cheap labour from India. On the other hand, India was comparatively slow in starting companies of its own. The lack of indigenous companies was acting as a hindrance in the growth path, and Foreign Direct Investment was also not as much before 2016. This led to the beginning of the Startup India Initiative.
Overview
Below is a table that summarises all the major details about the Startup India Scheme that one should know about.
| Name of the scheme | Startup India initiative |
|---|---|
| Launched in | 2016 |
| Launched by | Department of Promotion of Industry and Internal Trade (DPIIT) |
| Objective | To empower startups, boost entrepreneurship, and increase economic growth in the country. |
| Application process | Online |
Read More: Startup India Seed Fund Scheme
What Is The Startup India Initiative?
The Startup India initiative was launched on January 16, 2016, by Prime Minister Narendra Modi. This govt scheme was flagged off to promote and nurture innovation in the country. The youth will be assisted in turning their valuable ideas into companies and organisations.
The Sarkari Yojana is administered by the Department of Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry. The scheme aims to empower startups, boost entrepreneurship and increase economic growth in the country. This startup scheme mainly provides financial assistance to new startups in India and helps them grow.
The major motto of the Startup India scheme is to create employment in the country. It wishes to transform India from a country of job seekers to one of job creators. It works in furtherance of the ‘Aatmanirbhar Bharat’ Abhiyaan.
What Are The Key Initiatives That Have Been Taken Under The Startup India Initiative?
The government and the Department of Promotion of Industry and Internal Trade have started various ventures and initiatives to generate awareness amongst the masses about this startup scheme. Many more initiatives have been taken under the scheme. Let us have a look at them!
-
States Startup Ranking: The states in the country are ranked based on the number of startups and the success of these startups. Such startups are supplied with multiple financial, advisory and other benefits to help them grow. In the last edition of the rankings, Gujarat was the best performer.
-
National Startup Awards: As a measure of motivation, the government has also started the national startup awards, which reward and acknowledge budding successful startups.
-
Seed Fund Scheme: Under the seed fund scheme, the government provides financial assistance for the development of prototypes and entering into the market. It helps founders fund their startups and introduces them to the market.
-
MAARG (Mentorship, Advisory, Assistance, Resilience and Growth): MAARG is a platform that is aimed at providing mentorship and advice to budding entrepreneurs to help them take their organisations to new heights.
Read More: Exploring Group Insurance Options For Startup Ventures
Features
There are several features of the Startup India Scheme that comprise all its unique details. Some of its features are:
-
The scheme provides self-certification to startups to reduce regulatory expenses.
-
The government of India also provides legal aid to startups at very low prices for quick patent evaluation.
-
Under the scheme, the govt provides startups with a starting fund worth Rs. 2500 crore and expects to gain around Rs. 10,000 crore in 4 years.
-
The government gives several other benefits to startups as well, such as tax exemption, credit guarantee plan, and promoting biotechnology entrepreneurship.
What Are The Benefits Of The Startup India Scheme?
The Startup India scheme has multiple benefits for entrepreneurs and startups. Let us have a look at them!
-
Tax Benefits: No tax to be paid for the first 3 years of operation of the Startup. These organisations also don’t have to pay capital gains tax for the initial 3 years of operation.
-
IPR Protection: The government is working on formulating better intellectual property rights laws and rules to extend better industry practices and security to startups.
-
Insolvency and Bankruptcy Code: The Code is comparatively lenient towards startups for the winding up and closing down process.
-
Job Creation: With the beginning of startups in India, the employment sector will boom with jobs. India will be able to realise its dream of being a job creator.
-
Startup Pool: The government scheme has a funding pool of Rs. 10,000 Crores to extend financial assistance to startups.
Types Of Organisations Eligible To Apply For Startup India Registration
3 types of organisations are eligible to apply for the Startup India registration. Those 3 eligible organisations are:
-
Partnership Corporation
-
Limited Liability Partnership (LLP)
-
Private Limited Company
What Are The Eligibility Criteria For The Startup India Scheme?
The eligibility criteria for a company to avail of the benefits of the Startup India scheme are given below:
-
The period for which the company has been operating and in existence must not be over 10 years.
-
The company should be incorporated as a Private Limited Company, a Registered Partnership Firm, or a Limited Liability Partnership (LLP).
-
The annual turnover must not exceed Rs. 100 Crore for any year since its inception.
-
The startup should have a scalable business model and work towards developing or improving a product, process, or service.
How To Apply For The Startup India Scheme: A Step By Step Guide
The procedure to apply for a Startup India scheme and avail of its benefits is mentioned below. Please follow the steps and apply successfully:
Step 1: Visit the official Startup India website.
Step 2: Click on DPIIT Recognition.
Step 3: Apply to obtain recognition by DPIIT after meeting the eligibility conditions. Step 4: Fill out the application forms with all the necessary details.
Step 5: Upload the required documents along with your application.
Step 6: After approval, you shall receive a recognition number from DPIIT.
What Are The Documents Required For The Startup India Scheme?
Startups are required to submit some supporting documents to successfully apply for the scheme. The list of those documents is as follows:
-
Self certificate
-
Incorporation certificate of business
-
Startup India Registration
Conclusion
The Startup India scheme has been a breakthrough in India’s journey towards becoming a self-reliant nation. After only 2 years of starting the scheme, the number of startups in India in 2018 crossed 50,000. This was more than 10 times the number of startups in 2016. The success of this govt scheme has indeed brought in various opportunities for India. The government launches schemes for our benefit hence, it is our responsibility to use these opportunities. We urge all the young entrepreneurs to apply for the Startup India Scheme and build their businesses.
Stay updated with Jaagruk Bharat to get the latest information on government schemes and more, and reach out to us via our community page if you have any questions or want to share your thoughts.
Frequently Asked Questions
0
0
1k
0
0
1k Views
0
No comments available
Our Company
Home
About
T&C
Privacy Policy
Eula
Disclaimer Policy
Code of Ethics
Contact Us
Cancellation & Refund Policy
Categories
Women
Insurance
Finance
Tax
Travel
Transport & Infrastructure
Food
Entertainment
Communication
Government ID Cards
E-commerce
Traffic guidelines
Miscellaneous
Housing and Sanitation
Sports
Startup
Environment and Safety
Education
Agriculture
Social cause
Disclaimer: Jaagruk Bharat is a private organization offering support for documentation and government scheme access. We are not affiliated with any government body. Official services are available on respective government portals. Our goal is to make processes easier and more accessible for citizens.
Jaagruk Bharat with its team work tirelessly to bring all government schemes, Sarkari Yojanas, policies and guidelines to you in a simplified and structured format.
Our team is at the forefront of gathering, verifying and breaking all central government and state government regulations uncomplicatedly.
Our mission and vision are to make the common citizen of India aware of all government-laid-out rules and policies in a single place. Thus, we Jagruk Bharat have created an all-inclusive portal for 1.5 billion Indian citizens to understand, utilize and avail benefits of govt schemes and policies and by bringing them under one roof.
Jaagruk Bharat (जागरूक भारत) is a one stop centralised destination where you can effortlessly find, understand, and apply for various government schemes. We are committed to ensuring transparency and empowering Indian citizens. Our goal is to keep India Jagruk about government policies, the latest news, updates, and opportunities.
All Copyrights are reserved by Jaagruk Bharat