1. Big boost for Start-up India, dedicated portal for start-ups coming soon

Big boost for Start-up India, dedicated portal for start-ups coming soon

In a bid to give a big push to the ‘Startup India’ campaign, the Department of Industrial Policy and Promotion (DIPP) will launch a dedicated portal, website and mobile application for start-ups next month.

New Delhi | Published: April 25, 2017 4:45 AM
The portal, built by Invest India,will provide all the information about incubation facilities and tax benefits that the government will offer to the start-ups.

In a bid to give a big push to the ‘Startup India’ campaign, the Department of Industrial Policy and Promotion (DIPP) will launch a dedicated portal, website and mobile application for start-ups next month. “The ‘Startup India’ hub will help in creating a conducive environment for start-ups. It will also facilitate exchange of information between all stakeholders… It will be a LinkedIn kind of platform where you can connect with incubators, mentors and investors directly,” a senior government official said.

The portal, built by Invest India,will provide all the information about incubation facilities and tax benefits that the government will offer to the start-ups. Through this portal the start-ups can get themselves registered within 24 hours and be validated as eligible start-up entities.

Invest India is the official investment promotion and facilitation agency of the government and is mandated to facilitate investments into India. It is envisaged to be the first point of reference for potential investors.

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The start-ups can also use this portal as a single point of contact for applying to various schemes under the government’s ‘Startup India’ plan while getting information about various kinds of clearances, approvals, and registrations. It will also show information on eligible funds and scheme based on the industry and state.

The portal would also help in bringing together a lot of start-up-related entities ranging from incubators, accelerators, venture capital, seed capital and angel investment funds, and various government functionaries.

It would also give free legal consultation, for which DIPP has tied up with several legal start-ups to offer consultation.

The portal would also have a chatbox, which would also answer all queries. “There has already been a soft launch of this portal with around 150 members. We are expecting over 2,000 members in the next two months and by the end of 2017 we are expecting around 90,000 users,” an official with Invest India said.

The government had launched the ‘Startup India’ campaign in January last year and had announced an action plan to encourage the start-ups in the country, which included various incentives for start-ups such as greater access to capital, incubation and appropriate talent for these entities.

As of March 15, the government has received 2,405 applications for seeking recognition under the ‘Startup India’ programme, and out of this, 742 have been recognised.

-By Surbhi Prasad

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