The New Startup Website of Modi already had more than 200 registrations in a month. The next important step is to join hands with small cities and form a Hub with various states. The main motive behind the Modi’s Startup Scheme in India was to strengthen digital entrepreneurship at the very root base. This innovative initiative has been harboring positive feedback from the entrepreneurs.
This movement commenced in January. The Startup website and the app is supposed to be a one stop contact point since the month of April. This website would also be supportive of the tax benefits of Startups. The website is planning to issue certificates to those Startups who have innovative ideation. A board meeting regarding this has been held in May. Also a separate board has been set up that will identify the Startup’s eligibility for Tax exemption.
Work is also in pipeline for incubator scheme for entrepreneurs. It is very necessary to receive the collaboration and support of state governments for the Startups to survive. Around 2500 crores would be funded each year for four years to SIDBI to support these Startups and give them a solid business model base. Entrepreneurs who have been registering themselves with the website and the app are finding it very easy and helpful as a one stop solution rather than circling various offices.
Prime minister’s scheme has motivated many youngsters in the country to leave the routine jobs and start their own entrepreneurship. The Startups website also provided real time recognition certificate. The website was launched a while back is getting thousands of clicks per day. All the relevant information regarding incubators and funding solutions can be found on the website as one point contact solution. The whole life cycle stages of Startup are supported here. Government incentives are also provided like tax holiday and inspector raj free regime for up to three years. The Startup Scheme and the website are present examples of the heights our country is ready to soar with the help of Modi’s initiatives.
