Government schemes for startups in India: Tejas Satish Wagh
India is a country that has seen a massive growth in the startup ecosystem in recent years. The Indian government has been playing a crucial role in promoting and nurturing the startup ecosystem by introducing various schemes and initiatives. These schemes are designed to provide financial assistance, infrastructure, and other necessary support to startups in India. In this blog, we will discuss some of the government schemes for startups in India.
Startup India Scheme :
The Startup India Scheme was launched by the government in January 2016. The scheme aims to promote entrepreneurship and innovation in the country by providing various benefits to startups. Some of the benefits of this scheme include:
- Tax exemptions for startups for the first three years of operation
- Simplified regulatory environment
- Access to funding and credit facilities
- Mentorship and networking opportunities
- Incubation facilities for startups
Atal Innovation Mission :
The Atal Innovation Mission was launched by the government in 2016 to promote innovation and entrepreneurship among the youth of the country. The mission aims to establish Atal Tinkering Labs in schools and universities across the country to encourage innovation and creativity. Some of the benefits of this scheme include:
- Funding support for establishing Atal Tinkering Labs
- Mentorship and guidance for startups
- Access to fabrication labs and other infrastructure
Pradhan Mantri Mudra Yojana :
The Pradhan Mantri Mudra Yojana was launched in 2015 to provide financial assistance to small and micro-enterprises in the country. Under this scheme, loans are provided to startups and other small businesses without collateral security. Some of the benefits of this scheme include:
- Loans up to Rs. 10 lakh for startups and small businesses
- No collateral required for loans up to Rs. 10 lakh
- Easy and quick loan disbursal process
Standup India Scheme :
The Standup India Scheme was launched by the government in 2016 to promote entrepreneurship among women and SC/ST entrepreneurs. The scheme provides financial assistance to startups and other small businesses started by women and SC/ST entrepreneurs. Some of the benefits of this scheme include:
- Loans up to Rs. 1 crore for startups and small businesses
- Loans are provided without collateral security
- Assistance in preparing project reports and other documents
National Small Industries Corporation (NSIC) Scheme :
The National Small Industries Corporation (NSIC) Scheme provides support to startups and other small businesses by providing technical and financial assistance. Some of the benefits of this scheme include:
- Assistance in technology transfer and upgradation
- Support in the development of new products and services
- Marketing support and assistance in export promotion
In conclusion, the Indian government has launched various schemes and initiatives to promote entrepreneurship and innovation in the country. These schemes provide startups with financial assistance, infrastructure, mentorship, and other necessary support to help them succeed in their business ventures. Startups can take advantage of these schemes and initiatives to realize their entrepreneurial dreams and contribute to the growth of the Indian economy.