The Department for Promotion of Industry and Internal Trade will take steps to ensure that at least one-third of the beneficiaries of Start-up India programme are women, a top government official said Thursday.
The Department for Promotion of Industry and Internal Trade will take steps to ensure that at least one-third of the beneficiaries of Start-up India programme are women, a top government official said Thursday. The department’s secretary Ramesh Abhishek said that they would organise interactions of women entrepreneurs with venture capital funds and banks to ease access to equity and debt.
“We will ensure that at least one-third of beneficiaries of Start-up India are women. Also other departments/states will be encouraged to do the same,” he said in a series of tweets. The department, which is implementing the Start-up India programme, have announced specific decisions, such as earmarking Rs 1,000 crore out of Fund of Funds for women led/centric start-ups, to support entrepreneurship among women. He also said that online and offline courses and programs will be designed and implemented for capacity development of women entrepreneurs.
Their legal, tax and financial advisory needs will be facilitated by connecting them to suitable service providers, Abhishek added. Start-up India is the flagship initiative of the government, launched in January 2016, intended to build a strong ecosystem for the growth of start-up businesses, to drive sustainable economic growth and generate employment opportunities.
The Start-up India action plan provides tax and other incentives including income tax exemption. So far, as many as 18,813 start-ups have been recognised by the department. They can apply for availing incentives.