Category: Startups

US Startup SETU

Posted on by Business So Simple in Business Consultancy, Entrepreneurship, Startups

Shri Piyush Goyal launches US Startup SETU – Supporting Entrepreneurs in Transformation and Upskilling programme in Sanfrancisco


SETU to connect start-ups in India to US-based investors and start-up ecosystem leaders

SETU to provide mentorship and assistance to startups in various areas including funding, market access and commercialization

SETU to break geographical barriers between mentors based in US and sunrise startups in India

The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal launched the US Startup SETU – Supporting Entrepreneurs in Transformation and Upskilling programme in the Bay Area of San Francisco. The initiative would connect start-ups in India to US-based investors and start-up ecosystem leaders with mentorship and assistance in various areas including funding, market access and commercialization.

 The programme was launched at a luncheon interaction focused on specific issues related to start-up ecosystem in India. The meeting focused on ways to encourage domestic incorporation and mentorship of early-stage Indian startups by successful diaspora members in the Bay Area.

 SETU is designed to break the geographical barriers between mentors based in US that are willing to invest in entrepreneurship and sunrise startups in India. The interaction will be supported through the mentorship portal under the Startup India initiative MAARG, or the Mentorship, Advisory, Assistance, Resilience, and Growth program, which is a single-stop solution finder for startups in India. The portal has been developed with the idea to be accessible from every corner of the country to connect with a mentor. A mentor will offer human intelligence in guiding the startups. It may be noted that till date, more than 200 mentors have been successfully onboarded on MAARG across the globe.

The core functions of MAARG are to improve ease of access, use Artificial Intelligence for Matchmaking, schedule meetings virtually, host masterclasses, provide a custom dashboard for relevant information, analytics, features, etc., host cohort-based programs that will allow startup ecosystem enablers to be become a part of the program and enable outcome driven activities.

 The minister held frank and fruitful discussions with venture capitalists and industry leaders in the area during several meetings he held in the Bay Area. Venture capitalists and other investors expressed optimism about the business outlook in India.

“One of the key takeaways is that the Bay Area is very bullish on India, very excited about the potential that India, Indians and Indian startups and Indian businesses have to offer. Very excited about the talent available in India. They see huge potential in the large market that India is, 1.3 billion aspirational Indians,” Shri Goyal said after the meetings.

“There were suggestions about mentorship. We’ve launched the SETU programme where we are looking at supporting  entrepreneurs through transformation and upskilling intiatives. We’re also looking at a programme that the startup advisory council had initiated in India in which mentorship is being initiated particularly in tier-2, tier-3 and tier-4 towns and remoter areas. Lot of good suggestions have been brought to the table,” he said.

It is estimated that about 90% of the start-ups and more than half of the well-funded startups fail in their early days. Lack of experience in handling the business is a key issue, and founders require the right guidance for taking a decision and moral support.

As India heads towards becoming a supreme start-up destination, the right guidance at the right time is paramount. The Government of India invites the stalwarts, seasoned experts, and industry leaders to give back to the nation by adding value to a startup’s journey.

MAARG is inviting applications from Mentors across the world. Till date, more than 200 mentors have been on-boared on MAARG across the globe. The applications have come from distinguished individuals representing the industry and the startup ecosystem.

Press Release 07th Sept 2022

Financial Package To Women Entrepreneurs

Posted on by Business So Simple in Entrepreneurship, Financial Prudence, MSME, Startups

The Government has taken several initiatives to support and protect the interest of women and other entrepreneurs through stimulus given under Aatma Nirbhar Bharat Packages to combat the impact of the COVID-19 pandemic in India. The packages comprise of schemes for various sectors of the economy and also schemes having impact across sectors. The specific initiatives taken to protect women entrepreneurs and MSMEs are as under:

  1. Rs. 3 lakh crore Emergency Working Capital Facility for Businesses, including MSMEs
  2. Rs. 20,000 crore Subordinate Debt for Stressed MSMEs
  3. Rs. 50,000 crore equity infusion through MSME Fund of Funds
  4. New Definition of MSME and other Measures for MSME
  5. Rs. 10,000 crore scheme for formalisation of Micro Food Enterprises (MFE)
  6. Relief of Rs. 1500 crore to MUDRA loanees
  7. Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs, businesses, MUDRA borrowers and individuals
  8. Rs. 5000 crore Credit facility for Street Vendors.
  9. Under Pradhan Mantri Garib Kalyan Package, a total of 20.40 crores (approx) women account holders (Pradhan Mantri jan Dhan Yojana) were given an ex-gratia of Rs. 500 per month for three months.
  10. For Self-Help groups (SHGs), limit of collateral free lending was increased from Rs.10 lakhs to Rs. 20 lakhs for women organized through 63 lakhs SHGs, who supported 6.85 crore households.

Under the ECLGS Scheme as on 28.02.2022, 81.18 lakhs women beneficiaries have been provided guarantees for loan. The State-wise details are at Annexure.

This information was given by the Union Minister of Women and Child Development, Smt. Smriti Zubin Irani, in a written reply in Lok Sabha today.

Ministry of Women and Child Development Press Release dated 01 April 2022

Annexure

Financial Package To Women Entrepreneurs

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1812411&RegID=3&LID=1

India’s aim is to become world’s largest Startup destination

Posted on by Business So Simple in Business Consultancy, FCRA, Startups

India’s aim is to become world’s largest Startup destination: Shri Piyush Goyal


“India-UAE ties to be a defining partnership for the 21st century”

Ministry of Commerce & Industry Press Release Posted Dated Mar 28, 2022

Union Minister of Commerce & Industry, Consumer Affairs and Food & Public Distribution and Textiles, Shri Piyush Goyal today said that the country aspires to become the largest Startup ecosystem in the world.

Addressing a session on ‘Gateway to Growth – Roundtable on Indian Startup Ecosystem’ in Abu Dhabi, UAE, Shri Goyal said, “Today we are the third largest Startup ecosystem, but our aspiration is to be the world’s number one startup destination. The Startup bug has caught India’s imagination. The entire innovation ecosystem that the Startup industry represents is giving a new direction, new momentum to India.”

The session was co-chaired by the UAE Minister of State for Entrepreneurship & SMEs, Ahmad Belhoul Al Falasi (virtual), Dr Thani Zeyoudi, Minister for International Trade, Mohamed Al Sharaf, Chairman, Abu Dhabi Economic Development Department. Representatives of ADGM, ADQ, Mubadala, Masdar, ADIO, AD Residents Office, G42, Hub71, Ardent Advisory, Chimera Investment among others also participated in the session.

Shri Goyal said, “India offers one of the best ecosystems for Startups with a special ‘jugalbandi’ or blend between investors and entrepreneurs to get a balanced outcome and achieve a win-win solution for all. I have seen tremendous response from the Dubai Expo where our Startups have got the opportunity to raise finances, sign MoUs and get angel investments. All these aspects will help strengthen India’s strong bond of friendship with the UAE.”

The Minister appreciated the promotion of Indian Startups by the India Innovation Hub platform under the India Pavilion. “I do hope that the 700 Startups that have showcased their innovation at Expo2020 Dubai would have all gone back enriched with newer opportunities and ideas for the future. I am sure that this initiative between India and the UAE on innovation and future technologies will power growth of businesses and take wings as we go forward,” added the Minister.

He said that the Startups need to experiment, fail and learn from their experiences. “I would urge all of you from the Startup world to go extra mile and take the Startup story to all the remote places, villages, small towns, northeastern India and other regions,” added Shri Goyal.

On the Government’s role in promoting Startups, the Minister said that India aims to provide a level playing field and the best business ecosystem to the Startups.

“We have recently finalized the Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which is expected to further enhance bilateral trade, B2B engagement and explore attractive investment opportunities. I can assure you that we will take this partnership to newer heights in the areas of sustainability, aerospace, space technology, connectivity, AI, data analytics, 5G, Metaverse, etc. We look forward to leveraging each other’s offerings and expertise,” added the Minister.

Shri Goyal said that the UAE-India partnership is destined to play an important role in the global economy and in ensuring a better future for billions of people around the world. “This will be a defining partnership for the 21st century,” added the Minister.

Venture capitalists play a pivotal role in the Startup ecosystem and in economic growth of the country

Posted on by Business So Simple in Business Consultancy, Entrepreneurship, Startups

Venture capitalists play a pivotal role in the Startup ecosystem and in economic growth of the country, says Shri Piyush Goyal


IVCA can act as a Golden bridge between the Government, Startups, market and consumers – Shri Piyush Goyal

“Venture capitalists can play a role in fast tracking self-reliance, creating an AatmaNirbhar Bharat”: Shri Goyal

Shri Goyal urges venture capitalists to focus on Tier 2, Tier 3 & Tier 4 cities and towns

Press Release posted Date:- Mar 09, 2022

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal today said the Venture capitalists have played a pivotal role in India’s Startup story and in economic growth of the country. Addressing the Indian Venture and Alternate Capital Association’s (IVCA) Conclave, he said they have been driving innovation and bringing new ideas to the fore that is legendary.

“Venture capitalists and Angel investors have a very important role to play in the Startup ecosystem. I remember the Prime Minister had once said that the current decade is going to be the ‘Tech-ade’ of India. And this will be a decade where technology & innovation will drive the future of Indian economy, whether it is UPI or Covin. Today we are showing to the whole world what Indian capabilities are and how we can leverage digital platforms from mass transformation of the lives of a billion plus people,” said Shri Goyal, in his Keynote Address delivered through video conference.

Shri Goyal said the IVCA can act as a Golden bridge between the Government, Startups, market and consumers and promote innovation.

“India has carved a distinct niche for itself in the Startup map of the world. We have over 60,000 Startups and I see it as the DNA of the future of India,” he said.

Urging venture capital funds to reach out to the Tier 3&4 towns, Shri Goyal said the Startup Advisory Council recognises there is a large pool of talent in the interiors of India. Domestic capital can play a huge role in the next wave of innovation, he said.

“Atal Tinkering Labs are a good example. The whole ecosystem is going to grow by leaps and bounds. Soon ideas will choose what funds to take. Many good ideas have been taken over by small ticket cheques for lack of alternatives. We must seriously look at some kind of instruments and a little more compassion towards these ideas,” he said.

Shri Goyal urged the investors & capital providers to focus on 4Fs:

  • Fostering Innovation & Future Technologies
  • Facilitate mobilisation of domestic capital
  • Fast tracking self-reliance: An AatmaNirbhar Bharat
  • Focus on Tier 2, Tier 3 & Tier 4 cities and towns

Shri Goyal said we are on the cusp of reaching the $400 bn merchandise exports mark.

“I wish our Startups contribute significantly as we move towards a trillion dollars of Goods and Services exports each,” he said.

Shri Goyal said the Startups will play a defining role in the Amritkaal i.e next 25 years, when India completes 100 years of its Independence.

Government invites applications for National Startup Awards 2022 across 17 sectors and 7 special categories

Posted on by Business So Simple in Science & Technology, Startups

The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the third edition of the National Startup Awards.In line with Azadi Ka Amrit Mahotsav, the National Startup Awards 2022 will acknowledge startups and enablers who have been instrumental in revolutionising the development story of India and hold within them the power and potential to further fuel the spirit of Aatmanirbhar Bharat.

The first National Startup Awards were announced in 2020 and witnessed applications from over 1,600 startups and ecosystem enablers across India. The recently concluded National Startup Awards 2021 saw participation from over 2,200 startups and ecosystem enablers. After conducting two successful editions, the National Startup Awards 2022 are open for applications.

The awards for startups will be given in 17 sectors classified into 50 sub-sectors. The 17 sectors are Agriculture, Animal Husbandry, Construction, Drinking Water, Education & Skill Development, Energy, Enterprise Technology, Environment, FinTech, Food Processing, Health and Wellness, Industry 4.0, Media & Entertainment, Security, Space, Transport, and Travel.

In addition, there are seven special categories of awards for startups:

  • Women-led startups
  • Impact in rural areas
  • Campus startups
  • Manufacturing excellence
  • Innovation tackling the pandemic (preventive, diagnostic, therapeutic, monitoring, digital connect, work from home solutions, etc.)
  • Solution delivery or business operations in Indic languages
  • Startups from North-East (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura) and Hilly States/ Union Territories (Himachal Pradesh, Uttarakhand, Jammu & Kashmir, and Ladakh)

The National Startup Awards 2022 will also reward exceptional incubators and accelerators as key building blocks of a robust startup ecosystem.

A cash prize of INR 5 lakh will be awarded to each winning startup. The winners and runners-up will also be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders and pitching opportunities with investors. They will also be given priority for participation in various national and international startup events.

A cash prize of INR 15 lakh each will be awarded to one winning incubator and one winning accelerator.

The applications for the National Startup Awards 2022 are open till 15th March 2022. For more details, visit www.startupindia.gov.in/content/sih/en/nsa2022.html.

MIGRATION OF FOREIGN COMPANIES TO INDIA

Posted on by Business So Simple in Business Consultancy, Foreign Trade, Startups

Ministry of Commerce & Industry Press Release dated 11th Feb 2022

Various initiatives/schemes have been launched by Government for promoting growth and attracting investment in India. The Make in India programme was launched on 25th September, 2014 with aim of facilitating enhanced investment, foster innovation, build best in class infrastructure, and make India a hub for manufacturing, design, and innovation. Continuous efforts are made under Investment Facilitation and Outreach for implementation of Make in India action plans to identify potential investors, support Indian Missions abroad and State Governments for organizing events, summits, road-shows and other promotional activities to attract investments in the country.

Measures have been taken to improve the country’s investment climate, as a result of which India jumped to 63rd place in World Bank’s Ease of Doing Business [EODB] ranking as per World Bank’s Doing Business Report (DBR) 2020 from a rank of 142 in 2014. Department for Promotion of Industry and Internal Trade (DPIIT), in consultation with the State Governments, has also started a comprehensive reform exercise in States and UTs under Business Reforms Action Plan (BRAP). All States/UTs in the country are ranked on the basis of reforms implemented by them on designated parameters. This exercise has helped in improving business environment across States.

An Empowered Group of Secretaries has been constituted to fast track investments in the country. Similarly Project Development Cells (PDCs) have been set up across Central Government Ministries/Departments to handhold investors and spur sectoral and economic growth. Further, a GIS-enabled India Industrial Land Bank has been launched to help investors identify their preferred location for investment. National Single Window System (NSWS) has also been soft launched in September, 2021 to facilitate clearances for investors.

Keeping in view India’s vision of becoming ‘Atmanirbhar’ and to enhance India’s manufacturing capabilities and exports, an outlay of INR 1.97 lakh crore (over US$ 26 billion) has been announced in Union Budget 2021-22 for Production Linked Incentives (PLI) schemes for 14 key sectors of manufacturing starting from fiscal year (FY) 2021-22. With the announcement of PLI Schemes, significant creation of production, employment, and economic growth is expected over the next 5 years and more.

Measures taken by the Government including on FDI Policy reforms have resulted in increased FDI inflows in the country year after year. India registered its highest ever annual FDI inflow of US$ 81.97 billion (provisional figures) in the financial year 2020-21 despite the COVID related disruptions. These trends in India’s FDI are an endorsement of its status as a preferred investment destination amongst global investors. In the last seven financial years  (2014-21), India has received FDI inflow worth US$ 440.27 billion which is nearly 58 percent of the FDI reported in the last 21 years (US$ 763.83 billion). This indicates increasing inclination of global companies to set up their business in India.

Government has taken various other steps in addition to ongoing schemes to boost domestic and foreign investments in India. These include measures to reduce compliance burden for industry, opportunities under National Infrastructure Pipeline, Reduction in Corporate Tax, Easing liquidity problems of NBFCs and Banks, Policy measures to boost domestic manufacturing through Public Procurement Orders, Phased Manufacturing Programme (PMP), etc.

Besides the above, activities are also undertaken through schemes/ programmes, by several Central Government Ministries / Departments and various State Governments from time to time. The details of these measures are not centrally maintained by Department for Promotion of Industry and Internal Trade.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Rajya Sabha today.

***

BUDGET 2022 (Download all budget documents) -01st Feb 2022)

Posted on by Business So Simple in Budget, Company Law, Custom, Financial Prudence, GST, ICSI, ICAI, ICMA, Income Tax, International Taxation, Legal awareness, News Desk, Public Affairs, Startups

Key to Budget Document, 2022

https://www.indiabudget.gov.in/doc/Key_to_Budget_Document_2021.pdf

Budget Highlights (Key Features)

https://www.indiabudget.gov.in/doc/bh1.pdf

Annual Financial Statement
+

https://www.indiabudget.gov.in/#collapse2

Memorandum Explaining the Provisions in the Financial Bill

https://www.indiabudget.gov.in/doc/memo.pdf

Finance Bill

https://www.indiabudget.gov.in/doc/Finance_Bill.pdf

Statements of Fiscal Policy under the FRBM Act, 2003

https://www.indiabudget.gov.in/doc/frbm1.pdf

Output Outcome Framework for Schemes 2022-2023

https://www.indiabudget.gov.in/doc/OutcomeBudgetE2021_2022.pdf

Customs Notifications
+

https://www.indiabudget.gov.in/#custom

Implementation of Budget Announcements 2021-2022

https://www.indiabudget.gov.in/doc/impbud2020-21.pdf

Budget at a Glance
+

https://www.indiabudget.gov.in/#budget

Expenditure Profile
+

https://www.indiabudget.gov.in/#expen

Expenditure Budget

https://www.indiabudget.gov.in/#expenb

Ministry wise Summary of Budget Provisions

https://www.indiabudget.gov.in/doc/eb/sumsbe.pdf

All Statements of Budget Estimates

https://www.indiabudget.gov.in/doc/eb/allsbe.pdf

Finance Minister’s Speech

https://www.indiabudget.gov.in/#collapse1

Tax updates (Budget 2022)-01 Feb 2022

Posted on by Business So Simple in Custom, GST, Income Tax, Startups

Tax updates (Budget 2022)-01 Feb 2022

AMT is proposed to be reduced from 18% to 15% for co-operative society

Surcharge rate reduced from 12% to 7% on co-operative society having total income less than Rs. 10 crores

Income from the transfer of virtual digital asset shall be taxed at 30% with no deductions of expenses

New provision introduced for filing of an updated return within 2 years from the end of the relevant assessment year on payment of additional tax

Period of incorporation for eligible start-ups to claim the tax benefit is extended by 1 year

Maximum surcharge on long-term capital gain is capped at 15%

Surcharge or cess is not allowable as business expenditure:

Gift of cryptocurrencies to be taxed at receiver’s end

The government will tax income from digital asset transfers at 30%.

Gross GST collection for January 2022 is Rs 1.4 lakh crores approx, highest since the inception of GST: Says FM

Rs 1 lakh crore financial assistance to be provided to states in 2022-23 to catalyse investments, says FM

Existing tax benefits for startups, which were offered redemption of taxes for 3 consecutive years, to be extended by 1 more year.

Faceless proceedings under Customs is fully established

Customs Duty on Gems and Diamonds reduced to 5%

SEZ reforms in customs to be implemented by 30th Sept, 2022

Concessions provided on raw material for boosting manufacturing of Electronics Goods

Duty concessions provided to high growth electronic items

Proposals made for exempting few goods under Customs for promoting manufacturing of Capital goods

Economic times –

Biggest announcements for taxpayers 👉
Taxpayers can file an updated return on payment of taxes within two years from the end of relevant assessment year.

The new provision will ensure voluntary tax filing and reduce litigation, says FM

30% tax on proceeds of virtual/digital assets with no deductions other than cost of acquisition

No set off permitted against other income

1% TDS to be levied on payments made on transfer of digital assets

Deduction for employer contribution to NPS increased to 14% from 10% earlier for State govt employees on par with central govt employees

(Economic times)

Detailed presentation on National Startup Awardees 2021

Posted on by Business So Simple in Startups

46 Startups announced winners of the National Startup Awards 2021 along with 1 incubator and 1 accelerator


“Startup India is about realising millions of dreams”: Shri Piyush Goyal

Startup Mission is a symbol of Self-Reliant & Self-Confident India, says Shri Goyal

Shri Goyal addresses the National Startup Awards 2021 ceremony

“Prime Minister Narendra Modi is a very firm believer in the potential of Startups to nation-building during the Amritkaal, the next 25 years to India’s centenary of Freedom”: Shri Goyal

“Startup India is about realising millions of dreams,” said Shri Piyush Goyal today. Presenting the National Startup Awards 2021, the Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, he said the Startup Mission is a symbol of Self-Reliant & Self-Confident India.

“Be it a fisherman’s son from Chennai or a boatman’s daughter from Kashmir, they all want to bring prosperity to their families and to  their people, and therefore are thinking bigger and bolder,” said Shri Goyal.

Shri Goyal said, realising the contribution of Startups towards nation-building, the Prime Minister Shri Narendra Modi today announced that January 16 will be celebrated as National Start-up Day, to take the Startup culture to the far flung areas of the country.

“Prime Minister Modi is a very firm believer in potential of Startups to contribute significantly to the growth of the nation during the Amritkaal, the next 25 years. He recognises Innovation to be the strongest pillar in making India ‘Aatmanirbhar’,” said Shri Goyal.

Shri Goyal said the PM has focused on three sutras (pillars) to strengthen innovation:

  • Liberating entrepreneurs from the web of Govt processes & bureaucratic silos, – over 25,000 compliances reduced, decriminalization of laws, etc, but what more can be done to help businesses grow & prosper in an easier environment?
  • Building institutional mechanisms, – strengthen regulatory processes and self-regulation, &
  • Handholding young innovators & new enterprises, – mentoring will define Innovation in the future

Shri Goyal called upon the Startups to focus mainly on five areas to make India the No. 1 Startup ecosystem in the world:

1. Develop solutions & content in Indic languages

2. Encourage products & solutions that have a larger social & economic impact

3. Promoting Startups in every district across the country, – Establish ‘Startup Access centers’ in every district

4. Creating Innovation zones at the level of Urban Local Bodies, &

5. Adopt best practices from across the globe & enhance India’s global competitiveness

Quoting PM Modi, Shri Goyal said, “Today India is rapidly moving towards hitting the century of unicorns. I believe the golden era of India’s start-ups is starting now…”

“Government is standing with our innovators and so is the entire country…Let’s Innovate for India, innovate from India!” he said.

Speaking on the occasion, DPIIT Secretary Shri Anurag Jain said the Department will handhold the Startup Award finalists across seven tracks i.e. Investor Connect, Mentorship, Government Connect, Capacity Development, Corporate Connect, Brand Showcase and Unicorn Engagement.

“Our journey together doesn’t end here with just awards, we will walk step by step with you in this journey,” he said.

During the ceremony, the Results of the National Startup Awards (NSA) 2021 were declared. A total of 46 Startups have been recognized as winners of National Startup Awards 2021 along with 1 incubator and 1 accelerator.

The second edition of the awards invited applications across 15 sectors and 49 sub-sectors. The sectors included Agriculture, Animal Husbandry, Drinking Water, Education & Skill Development, Energy, Enterprise Technology, Environment, Fintech, Food Processing, Health & Wellness, Industry 4.0, Security, Space and Transport and Travel. Six special categories were also introduced to recognize exceptional Startups contributing to the good of the society. The 2021 edition of the awards also recognized exceptional Startups innovating solutions to promote Indic languages and to compliment national efforts to combat COVID-19 pandemic.

A total of 2177 applications were received from Startups across the 49 sub-sectors along with applications from 53 incubators and 6 accelerators for the ecosystem enablers categories. These applicants included 863 Women-led, 414 innovations for combatting COVID-19 and 253 Startups working in rural areas.

All applicants were evaluated against six broad parameters namely Innovation, Scalability, Economic Impact, Social Impact, Environmental Impact, and Inclusiveness and Diversity.

After three rounds of detailed evaluation, 175 Startups were selected for presentation before the jury which made presentations before the 16 specialist jury panels, which comprised of domain experts from industry, investors and government.

The recognised entities will benefit from such recognition, not only in terms of being able to attract more business, financing, partnerships and talent, but also enable them to serve as role models for other entities, and to inspire them to be purposeful and responsible about their socio-economic impact.

53 applications were received from incubators and 6 applications were received from Accelerators. Select incubators and accelerators were selected after three rounds of evaluation for presentation before Jury Panel which gave presentations before the Jury.

The felicitation ceremony was accompanied by the release of an e-Report on National Startup Awards 2021 highlighting the year-round handholding support provided to the finalists of first edition of National Startup Awards and the journey of NSA 2021.

The ‘Blockchain-enabled verification for DPIIT tax incentive certificates’, ‘Digilocker enabled DPIIT Startup recognition certificate’ and second edition of the ‘Startup Champions’ programme on Doordarshan were also launched during the event.

The Department for Promotion of Industry and Internal Trade (DPIIT) conceived the National Startup Awards to recognize and reward outstanding Startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact. The measure of success is not only the financial gains for the investors, but also the contribution to social good.

Please click here for:

  1. List of winners of the National Startup Awards, 2021
  2. Detailed Presentation on the National Startup Awardees, 2021

Startup India Innovation Week (10th -16th of January 2022)

Posted on by Business So Simple in Startups

Centre to organize the FIRST EVER Startup India Innovation Week from 10th -16th of January 2022.


Event to bring together country’s key startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers etc under one platform to celebrate entrepreneurship and promote innovation

“Startup India Innovation Week”

designed to showcase the spread and depth of entrepreneurship across India.

The Department for Promotion of Industry and Internal Trade (DPIIT) is organizing the first-ever Startup India Innovation Week from 10th -16th of January 2022.  This virtual week-long innovation celebration aims to commemorate the 75th year of India’s independence ‘Azadi Ka Amrit Mahotsav’ and is designed to showcase the spread and depth of entrepreneurship across India.

Interestingly, in the startup world, 2021 has been recognised as the ‘year of unicorns,’ with 40+ unicorns added in the year.

 India is emerging as a global innovation hub, boasting the world’s third-largest startup ecosystem. DPIIT has recognised more than 61,000 startups as on date. Our startups representing 55 industries, spread across 633 districts with at least one startup from every State and UT of the country have created over 6 lakh jobs since 2016. 45% of the startups are from Tier-2 and Tier-3 cities and 45% of them are represented by women entrepreneurs. Startups have the potential to accelerate India’s integration into global value chains and create global impact.

This startup and innovation festival’s primary goal is to bring together the country’s key startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, and other national/international stakeholders to celebrate entrepreneurship and promote innovation. Furthermore, to exchange knowledge on nurturing startup ecosystems; to develop entrepreneurial ecosystem capacities; to mobilise global and domestic capital for startup investments; to encourage and inspire the youth for innovation and entrepreneurship; to provide market access opportunities to startups; and to showcase high-quality, high-technology, and frugal innovations from India.

With participation of States/UTs and various departments of Government of India, the week-long programme will address key aspects of the startup ecosystem through interactive sessions, workshops, and presentations based on themes such as Academia & Mentorship Support to Startups, Incubation and Acceleration Support to Startups, Market Access through Corporates & Government to Startups, and Funding & International Avenues to Go Global. In addition, based on the identified themes, there will be various parallel activities such as Experience Booths, Pitching or Reverse Pitching Sessions, and Innovation Showcases.

The link to the registration for the event is https://www.startupindiainnovationweek.in