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Let us Create New Eco System with the CONVERGENCE of Start up and Stand Up India CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811 1

Convergence of start up and stand up india

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Page 1: Convergence of start  up and stand up india

Let us Create New Eco System with the CONVERGENCE of Start up and Stand Up India

CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811 1

Page 2: Convergence of start  up and stand up india

PREAMBLE

• Under Stand-up India initiative, each of the 1.25 lakh bank branches would be encouraged to fund a SC/ST and woman entrepreneurs to create 2.5 lakh new entrepreneurs in the country Union Minister for MSME (Micro, Small & Medium Enterprises) Kalraj Mishra

• The ministry is implementing major schemes like Prime Minister Employment Generation Programme(PMEGP), a credit- linked subsidy programme for creation of employment in both rural and urban area of the country. PMEGP is providing relaxation to SC/ST beneficiaries. For urban SC/ST beneficiaries, margin money subsidy is provided at 25 per cent of the project cost while it is 35 per cent in rural areas.

CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811 2

Page 3: Convergence of start  up and stand up india

START UP INDIA :19 PLANS FOR START-UPS1. Self certification- The start-ups will adopt self-certification to reduce the regulatory liabilities. The self-certification will apply to laws including payment of gratuity, labour contract, provident fund management, water and air pollution acts.

2. Start-up India hub- An all-India hub will be created as a single contact point for start-up foundations in India, which will help the entrepreneurs to exchange knowledge and access financial aid.

3. Register through app- An online portal, in the shape of a mobile application, will be launched to help start-up founders to easily register. The app is scheduled to be launched on April 1.

4. Patent protection- A fast-track system for patent examination at lower costs is being conceptualized by the central government. The system will

5. Rs 10,000 crore fund- The government will develop a fund with an initial corpus of Rs 2,500 crore and a total corpus of Rs 10,000 crore over four years, to support upcoming start-up enterprises. The Life Insurance Corporation of India will play a major role in developing this corpus. A committee of private professionals selected from the start-up industry will manage the fund.

6. National Credit Guarantee Trust CompanyA National Credit Guarantee Trust Company (NCGTC) is being conceptualized with a budget of Rs 500 crore per year for the next four years to support the flow of funds to start-ups.

CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811

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Page 4: Convergence of start  up and stand up india

7. No Capital Gains Tax- At present, investments by venture capital funds are exempt from the Capital Gains Tax. The same policy is being implemented on primary-level investments in start-ups.

8. No Income Tax for three years- Start-ups would not pay Income Tax for three years. This policy would revolutionize the pace with which start-ups would grow in the future.

9. Tax exemption for investments of higher value- In case of an investment of higher value than the market price, it will be exempt from paying tax

10. Building entrepreneurs- Innovation-related study plans for students in over 5 lakh schools. Besides, there will also be an annual incubator grand challenge to develop world class incubators.

11. Atal Innovation Mission- The Atal Innovation Mission will be launched to boost innovation and encourage talented youths.

12. Setting up incubators- A private-public partnership model is being considered for 35 new incubators and 31 innovation centres at national institutes.

13. Research parks- The government plans to set up seven new research parks, including six in the Indian Institute of Technology campuses and one in the Indian Institute of Science campus, with an investment of Rs 100 crore each.

14. Entrepreneurship in biotechnology- The government will further establish five new biotech clusters, 50 new bio incubators, 150 technology transfer offices and 20 bio-connect offices in the country.

CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811 4

Page 5: Convergence of start  up and stand up india

15. Dedicated programs in schools- The government will introduce innovation-related programs for students in over 5 lakh schools.

16. Legal support- A panel of facilitators will provide legal support and assistance in submitting patent applications and other official documents.

17. Rebate- A rebate amount of 80 percent of the total value will be provided to the entrepreneurs on filing patent applications.

18. Easy rules- Norms of public procurement and rules of trading have been simplified for the start-ups.

19. Faster exit- If a start-up fails, the government will also assist the entrepreneurs to find suitable solutions for their problems. If they fail again, the government will provide an easy way out.

CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811

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Page 6: Convergence of start  up and stand up india

STAND UP INDIAfeatures of the stand up India scheme that you should know:

• The scheme is a part of Start-up India, Stand up India slogan, spread by the Department of Financial Services (DFS) to encourage entrepreneurial projects

• The Stand Up India scheme will facilitate two entrepreneurial projects on an average of one for each category (Women and SC/ST) of entrepreneurs per bank branch

• The scheme will provide financial aid through the Small Industries Development Bank of India (SIDBI) with an initial amount of Rs 10,000 crore

• A credit guarantee system would also be implemented under the scheme through the National Credit Guarantee Trustee Company (NCGTC), which will act as the operating agency for financial aids

• The system will personally guide each entrepreneur through the pre-loan and operational phases

• The margin money for the composite loan will be up to 25 percent to help the credit system reach out to the entrepreneurs

• Loan amounts from Rs 10 lakh to Rs 1 crore will be given to female and SC/ST entrepreneurs that will be repayable up to seven years

• The scheme will also familiarize the entrepreneurs with factoring services, e-market places and registration with online platforms and other aspects of web entrepreneurship.

CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811 6

Page 7: Convergence of start  up and stand up india

CS Sanjay H. Indulkar- Company Secretary Mobile 9867161367 email: [email protected] linkedin-connect : in.linkedin.com/pub/sanjay-indulkar/1a/865/811

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Some Links:

http://socialjustice.nic.in/pdf/VCFforSC.pdf

http://socialjustice.nic.in/nscfdc.php

http://www.ifciventure.com/Venture%20Capital%20Fund%20For%20Scheduled%20Castes

http://www.ifciventure.com/pages/by4hm8ur/77/WEBSITE-STATUS-ON-VENTURE-CAPITAL-FUND-FOR%20SCHEDULED-

CASTES-%28VCF-SC%29-TILL-FEBRUARY-22-2016.pdf

http://www.ifciventure.com/Venture%20Capital%20Fund%20For%20Scheduled%20Castes#

http://www.dcmsme.gov.in/schemes/pcgsc01x.htm

Keys : Please check the state wise policy including the incentive ,subsidy and margin money

For further information and Assistance :

CS Sanjay H. Indulkar- Company SecretaryCorporate Advisory, Business Strategy & Transition, Fund Raising, Regulatory and Compliance.Mobile 9867161367 email: [email protected] : in.linkedin.com/pub/sanjay-indulkar/1a/865/811