If you have a good business idea but don’t have funds for implementing the same then you don’t need to worry about it. We are saying this because the Indian government supports startup culture. One can easily get start-up business loans from the Indian government. Easy start-up business loans by the Indian government have been provided so that startups can help the country in various ways like providing jobs, economix support, make India self-reliant etc. There are many startup driven schemes by the Indian government in order to make India small business friendly. Startup India seed Fund Scheme, Startup India Scheme all such schemes are the best help for the startups in India. If you are having a startup or you are considering starting one you then are in the right site. Right here in the blog we're going to discuss the pinnacle 10 authorities schemes for startups in India.
What are the Government Schemes for Startups in India?
There are a number of government schemes for startups in India out of which here we are going to discuss the most important one. Top 10 government schemes for startups in India are given below:
Atal Innovation Mission (AIM)
- Released by means of NITI Aayog to promote innovation and entrepreneurship.
- Specializes in fostering creativity and trouble-fixing in faculties and industries.
- Atal Tinkering Labs encourages arms-on gaining knowledge with gear like 3-D printers and robotics kits.
- Atal Incubation facilities help start-ups mentorship and funding.
- The Arise up program promotes innovation in MSMEs.
- Over 10,000 Atal Tinkering Labs mounted nationwide.
- Objectives to make India a international chief in innovation.
Startup India Seed Fund Scheme
- Launched in 2021 to support early-stage startups.
- Provides up to ₹50 lakhs for prototype, trials, and commercialization.
- Implemented via incubators across India.
- Eligibility: SPIRIT-recognized startups under 2 years old.
- Focus on innovation, technology, and job creation.
- Apply through the Startup India portal.
Startup India Initiative
- Launched in 2016 to promote entrepreneurship.
- Offers tax benefits and funding support.
- Simplifies compliance for startups.
- Supports innovation in various sectors.
- Provides IPR fast-tracking and fee reductions.
- Accessible via the Startup India portal.
Aatmanirbhar Bharat App Innovation Challenge
- Released in 2020 to sell Indian-made apps.
- Geared toward fostering self-reliance in app improvement.
- Categories consist of gaming, enjoyment, commercial enterprise, and extra.
- Encourages startups in addition to various marketers to expand innovative solutions.
- Winners get a hold of coins, rewards and mentorship assistance.
- Promotes local skills and aligns with the Aatmanirbhar Bharat vision.
E-biz Portal
- Unmarried-window platform for enterprise services.
- Part of the country wide e-Governance Plan (NeGP).
- Simplifies registrations, approvals, and compliance methods.
- Integrates services across critical, kingdom, and neighborhood governments.
- Key services: corporation incorporation, tax registrations, and licenses.
- Reduces time, fee, and attempt for businesses.
- On hand 24/7 for seamless on-line service shipping.
- Promotes ease of doing commercial enterprise and boosts entrepreneurship in India.
Software Technology Park (STP)
- Scheme to promote software exports and IT development.
- Managed by STPI i.e Software Technology Parks of India.
- Offers duty-free import/export of hardware and software.
- Provides 100% tax exemption on export profits.
- Supports IT and ITES startups and enterprises.
- Boosts infrastructure like high-speed data communication.
- Encourages IT entrepreneurship and export growth.
Dairy Processing and Infrastructure Development Fund (DIDF)
- Launched to boost dairy sector growth.
- Provides financial assistance to cooperatives and farmers.
- Focuses on modernizing dairy plants and storage.
- Supports quality control and value-added products.
- Enhances milk production and farmer income.
- Funded with ₹10,881 crore.
Mudra Bank Facility
- MUDRA launched in 2015 to guide MSMEs.
- Provides loans from ₹50,000 to ₹10 lakh below Shishu, Kishor, Tarun categories.
- Focuses on entrepreneurship and job introduction.
- No collateral required for loans.
- Targets to empower non-corporate, non-farm companies.
- Facilitates smooth access to finance for small groups.
- Supports monetary inclusion and increase in rural regions.
Credit Guarantee Fund for Trusts
- CGTMSE provides guarantee cover for MSE loans.
- Encourages collateral-free financing for small businesses.
- Covers loans up to ₹2 crore.
- Promotes entrepreneurship and MSME growth.
- Increases access to finance for new and existing businesses.
- Supports banks and financial institutions in lending to MSEs.
- Boosts financial inclusion for small enterprises.
- Reduces lender risk and encourages innovation.
Multiplier Grant Scheme (MGS)
- MGS supports industry-academia collaboration for innovation.
- Provides financial co-support for R&D projects.
- Focus on sectors like manufacturing, energy, and agriculture.
- Industry must provide a matching contribution.
- Encourages technology development and commercialization.
- Promotes public-private partnerships.
- Managed by DSIR, under the Ministry of Science & Technology.
- Aims to enhance industry competitiveness and global presence.
Other Important Startup India Schemes for Startups in India
Except the top 10 government schemes for startups in India, here are some which may not be as beneficial as the above schemes but surely provide some kind of benefit for your startup.
- NIDHI i.e. National Initiative for Developing and Harnessing Innovations.
- Technology Development Board (TDB)
- Make in India
- Fund of Funds for Startups (FFS)
- Biotechnology Industry Research Assistance Council (BIRAC)
- State Government Schemes
- Startup India Hub
- NSTEDB i.e. National Science and Technology Entrepreneurship Development Board
How Does the Government Startup India Scheme Work?
Government schemes helps the startups in the following ways:
- Tax exemptions and financial incentives.
- Access to government funding and grants.
- Simplified regulatory compliance.
- Faster approvals for patents and trademarks.
- Networking opportunities with investors and industry leaders.
- Support for research, innovation, and product development.
- Mentorship and training programs.
- Subsidies on infrastructure and services.
- Market access through government tenders and contracts.
- Enhanced ease of doing business.
Startup India Registration Mandatory to Get Benefit of Startup India Schemes
In order to get the benefits of various startup related schemes you must register your business as a startup in India. This is not directional in nature, to get registered as a startup is mandatory in order to get the various benefits of the government of India. Some of the key things with respect to startup India scheme of the government are given below:
- Register on the Startup India portal.
- Must be a private company, LLP, or partnership under 10 years old and ₹100 crore turnover.
- Get recognized by DPIIT.
- Benefits: 3-year tax holiday, capital gains exemption, funding support.
- Simplified compliance and self-certification.
- Faster and cheaper patent processing.
- Access to networking, training, and incubation.
- Easy exit under the Insolvency Code.
Conclusion
If you have a startup in India and want to grow in the market then you must opt for the various benefits of the government startup related schemes. They are particularly for the growth of the startups or small businesses in India. But in order to get their benefit it is really important to get startup India registration. This ensures that your business falls under the category of startups in India. One of the most important startup supporting schemes of the government is the Startup India scheme itself. In case you have a startup but you are finding it difficult to manage all this for your business then feel free to contact us. We are keen to help you out with the same.
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