Wednesday 2 March 2016

COMPONENTS OF STARTUP INDIA

Simplification & Handholding

  • Compliance regime based on self-certification: The idea is to reduce the regulatory burden on startups, so that they can focus on their core business and keep the cost of compliance low. The regulatory regimes will thus be made simpler and flexible; inspections more meaningful and simple.
  • Startup India Hub: Creation of a single point of contact for the entire startup ecosystem to enable the exchange of knowledge and access of funding. The Government will be the main stakeholder and will collaborate with Central and State Governments, Indian and foreign VC's, angel networks, banks, incubators, legal partners, consultants, universities and R&D institutions.
  • Rolling Out of Mobile App and Portal: It will act as an interacting platform for startups with the Government and regulatory institutions. This will be made available from 1st April, 2016 on all leading mobile/ smart device platforms.
  • Legal Support and Fast: Tracking Patent Examination at Lower Costs- To promote and create awareness in startups about IPRs and ensure continuous growth and development of new startups, this scheme will make the task of filing patents easier.
  • Relaxed norms of Public Procurement for Startups: The aim is to provide equal opportunity to Startups as compared to experienced companies. The Government will exempt startups from the criteria of 'Prior experience/ Turnover' in case of tenders floated by Government or by PSU's, without relaxation in the quality parameters.
  • Faster Exit for Startups: The Action Plan will make it easier for Startups to wind up operations in case they fail to succeed. An insolvency professional will be provided to the Startups, who will be in-charge of the company for liquidating the assets and paying the creditors in six months time. This process will accept the concept of limited liability.

Funding support & Incentives

  • Provide funding support to startups: The Government will set up an initial fund of Rs.2,500 crore per year and a total of Rs.10,000 crore over a period of 4 years
  • Credit Guarantee for Startups: To encourage Banks and other Lenders to provide Venture Debts to startups, Credit guarantee mechanism through National Credit Guarantee Trust Company (NCGTC)/ SIDBI is being considered with a budget of Rs.500 crore per year for the next four years.
  • Tax Exemptions on Capital Gains: To promote investments into Startups, the Government will give tax exemption to those who have capital gains during the year and have invested such capital gains in the Fund of Funds recognized by the Government.
  • Tax Exemption to Startups for Three Years: To address the working capital requirement, stimulate the development of Startups in India and provide them a competitive platform, the profits of Startups will be exempted from Tax for a period of 3 years.
  • Tax Exemption on Investments over Fair Market Value: Investment by incubators in Startups will be exempted from Tax.

Industry - Academia Partnership & Incubation

  • Organizing Startup Fests for Showcasing Innovation and Providing a Collaboration Platform: To strengthen the Startup ecosystem in India, the Government has proposed to introduce Startup fests at both national and international levels. This will be a platform for the Startups in India, to showcase their work and ideas and work with a larger audience comprising of potential investors, mentors and fellow Startups.
  • Launch of Atal Innovation Mission (AIM) With Self Employment and Talent Utilization (SETU) Program: This will serve as a platform for promoting world- class innovation hubs, grand Challenges, Startup businesses and other self employment activities particularly in technology driven areas.
  • Harnessing Private Sector Expertise for Incubator Setup: Government will create a policy and framework for setting up incubators across the country in public private partnership.
  • Building Innovation Centers at National Institutes: To increase the incubation and R&D efforts in the country, Government will set up 31 centers of innovation and entrepreneurship at national institutes. For 13 centers an annual funding of Rs.50 Lakhs will be provided for 3 years to encourage student driven Startups.
  • Setting Up of 7 New Research Parks Modeled on the Research Park Set Up at IIT Madras: In order to give a push to successful innovation through incubation and joint R&D efforts between academia and industry, the Government will set up 7 new Research Parks in institutes with an initial investment of Rs.100 crore each. The Research Parks shall be modeled based on the Research Park setup at IIT Madras.
  • Promoting Startups in the Biotechnology Sector: The Biotechnology sector in India is on a strong, growth trajectory. Department of Biotechnology endeavors to scale up the number of Startups in the sector by nurturing approximately 300-500 new Startups each year to have around 2000 Startups by 2020.
  • Launching of Innovation Focused Programs for Students: The Government will promote research and innovation among young students and has thus launched a few programs like- Innovation Core, NIDHI (a grand challenge program) and Uchhatar Avishkar Yojna. These schemes will initially apply to IIT's only and each project may amount Rs.5 crore.
  • Annual Incubator Grand Challenge: Incubators play an important role in identifying early stage Startups and supporting them across various phases of their lifecycle to build an effective Startup ecosystem. The Government is proposing to make forward looking investments towards building world class incubators in its first phase; the aim is to establish 10 such incubators. The Government will hence identify 10 incubators having the potential to become world class. These will be given Rs.10 crore each as financial assistance and such incubators will become reference models for other incubators. These will then be showcased on Startup India Portal. An Incubator Grand Challenge exercise will be carried out for the identification of such incubators and this will be an annual exercise.

Friday 12 February 2016

New Foreign Trade Policy (FTP) 2015-20, announced on 1st April, 2015

The New Foreign Trade Policy (FTP) 2015-20, announced on 1st April, 2015, provides a framework for increasing exports of goods and services as well as generating employment opportunities in line with the “Make in India” vision of Prime Minister. This policy restructures the
export incentive schemes by reducing a plethora of schemes to only two schemes namely “Merchandise Exports from India Scheme (MEIS)” for export of specified goods to specified markets and “Services Exports from India Scheme (SEIS).”

Clarification on ‪#‎Loans‬ and Advances to ‪#‎Employees‬: Section 186 Company ACT 2013

Clarification on ‪#‎Loans‬ and Advances to ‪#‎Employees‬: Section 186 of the Companies Act, 2013 imposes
restriction on companies from giving loans to any person more than a threshold level. The Ministry of
Corporate Affairs vide General Circular No. 04/2015 dated 10.03.2015, clarified that loans and/or advances to their employees, other than managing and whole time directors, are not governed by the requirements of section 186. It is also clarified that such loans/ advances to employees should be in accordance with the conditions of service applicable to employees and
with the remuneration policy.

Industrial output for the month of February 2015

Industrial output for the month of February 2015 increased at a rate of 5% as against 2.8% growth in the previous month. While the Index of Industrial Production (IIP) remained volatile during the last fiscal with an estimated growth rate of 2.8% during the year until February, 2015, production of capital goods and electricity increased at 6.4% and 9.1% respectively, indicating significant capacity creation in the economy.

Tuesday 2 February 2016

Shishu/ Kishor/ Tarun Schemes – MudraLoan

#Shishu/ #Kishor/ #Tarun Schemes – #MudraLoan


The Bank will nurture small businesses through different stages of growth and development of businesses termed as Shishu, Kishor and Tarun.
#Mudra Bank Starts Financing at 7.00% rate of #Interest

#Shishu This is will be the first step when the business is just starting up. The loan cover in this stage will be upto Rs 50,000.

#Kishor In this stage, the entrepreneur will be eligible for a loan ranging from Rs 50,000 to Rs 5 lakh.
#Tarun This last and final category will provide loans for upto Rs 10 lakh. 27 nationalised, 15 private and one Regional Gramin Bank participated in mega loan under Pradhan Mantri Mudra Loan Scheme. 15.90 Crore were sanctioned to 3239 beneficiaries in Gurgaon under Pradhan mantri Mudra Yojna (#PMMY).
#SBBJ has sanctioned 16,814 loans amounting to Rs 226 crore under PMMY

Sunday 17 January 2016

Google Eco systems

+Google
Google Account: http://myaccount.google.com
. Start here > http://support.google.com/accounts
. Stronger security > http://goo.gl/8GxnAz
. Online Safety > http://goo.gl/zfHuP2
. YouTube > http://goo.gl/yRNmVm

Protect Your Google Account:  http://goo.gl/UmZzEc

How does Google keep my information safe: goo.gl/XNnWRU

Google Smart Lock: http://get.google.com/smartlock/

What Google does with the data they collect: http://goo.gl/EmCfif

Google Transparency Report: http://google.com/transparencyreport

Contact Google: http://goo.gl/NNWY44

Google Help Videos: http://goo.gl/oKuzYb

Google Product Forums: http://goo.gl/Zcqfgb
. Start here > http://support.google.com/groups
. Forum > http://goo.gl/bq7xo4

Google Mobile: http://google.com/mobile/

Google Top Contributors: http://topcontributor.withgoogle.com

Google Training/Certification
. Google Partners > http://google.com/partners
. Google Apps > http://certification.googleapps.com
. Google Training Center > http://edutrainingcenter.withgoogle.com
. Google for Education > http://google.com/edu/training/

Google Weekly Updates: http://goo.gl/2GsXd1

Google Contacts: http://contacts.google.com

Google Bookmarks: http://google.com/bookmarks/

Google Merchandise Store: http://goo.gl/k7S9TV

Google URL Shortener: http://goo.gl

Important URLs as a Google User
. Google Privacy & Terms > http://goo.gl/n8FYrO
. Sign Up without Gmail > http://goo.gl/lwUrZe
. Ads preferences > http://goo.gl/2Yrwgu
. Take out > http://goo.gl/ZMUJNo
. Legal > http://goo.gl/lTJkC2
. Location history > http://goo.gl/8OglRd
. History > http://goo.gl/cOzjKZ
. Inactive account > http://goo.gl/SPVWQR
. Activity security > http://goo.gl/Kj7R1w
. Permissions security > http://goo.gl/WN1wun
. Admin password > http://goo.gl/q33njO
. Google Contacts > http://goo.gl/evLMNs
. Help > http://goo.gl/nEddD1
. Feedback > http://goo.gl/qxzeHr
. Google Careers > http://goo.gl/h0XZnE

More:
. A Map of the new Google EcoSystem: http://goo.gl/2mqLdk

#Googlepedia