Category: Startups

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

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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

युवा उद्यमी हेनरी सिंगुरा ने मशरूम की खेती को एक सफल व्यावसायिक उद्यम के रूप में विकसित किया (Ministry of Micro,Small & Medium Enterprises Press Release dated 10th Dec 2021)

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मिजोरम के श्री हेनरी सिंगुरा ने मशरूम की खेती को एक सफल व्यावसायिक उद्यम के रूप में विकसित किया है और अपने क्षेत्र के युवाओं को रोजगार के नए अवसर प्रदान किए हैं। हेनरी हमेशा से ही अपने आस – पास के लोगों के लिए कुछ करने की इच्छा रखते थे इसलिए उन्होंने वर्ष 2019 में फूड माइक्रो लैब की स्थापना की। सूक्ष्म, लघु एवं मध्यम उद्यम मंत्रालय की प्रधानमंत्री रोजगार सृजन कार्यक्रम (पीएमईजीपी) योजना ने उनके उद्यम को सफल बनाने में प्रमुख भूमिका निभाई है। हेनरी ने बताया है कि मिजोरम में मशरूम की खेती आमदनी का एक मुख्य स्रोत है। एक स्टार्टअप होने की वजह से धन का प्रबंधन करना हमारे सामने आने वाली प्रमुख समस्याओं में से एक थी। पीएमईजीपी योजना के तहत हमें ऋण और 35 फीसदी सब्सिडी मिली। इससे हमारे स्टार्टअप को काफी सहायता मिली है।

Choose road to success with Ministry of MSME like Henry did.#MSME #SCSTHUB #KVIC #NSIC #NSSH@NSICLTD @minmsme @kvicindia @IndianCoir pic.twitter.com/kcntLYmnVl— Ministry of MSME (@minmsme) December 10, 2021


हेनरी आज एक सफल उद्यमी के रूप में कार्य कर रहे हैं और अन्य लोगों को भी मशरूम की खेती करने का प्रशिक्षण दे रहे हैं। हेनरी की शुरुआती चुनौती थी अपने स्टार्टअप के लिए धन की व्यवस्था करना और इसके लिए उन्हें #पीएमईजीपी योजना के तहत #मिनिस्ट्रीऑफ़एमएसएमई का सहयोग मिला।

Revival of Exports (Press release dated 10th Dec 2021)

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There are signs of revival of exports of the country. India’s overall exports (merchandise and services) has increased by 39.74% in 2021-22 (April-October) as compared to the corresponding period of previous year.

In order to boost India’s exports, the Government has taken several measures which include:

  1. The mid-term review (2017) of the Foreign Trade Policy (2015-20) was carried out and corrective measures were undertaken.
  2. Foreign Trade Policy (2015-20) extended by one year i.e. upto 31-3-2022 due to the COVID-19 pandemic situation.
  3. Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme. 
  4. A Central Sector Scheme –‘Transport and Marketing Assistance for Specified Agriculture Products’–for providing assistance for the international component of freight to mitigate the freight disadvantage for the export of agriculture products.
  5. Remission of Duties and Taxes on Exported Products (RoDTEP) scheme and Rebate of State and Central Levies and Taxes (RoSCTL) Scheme have been launched with effect from 01.01.2021.
  6. Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.
  7. Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors.
  8. Promoting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district.
  9. Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
  10. Package announced in light of the Covidpandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel, in a written reply in the Rajya Sabha today.

Startups (Ministry of Commerce & Industry Press Release dated 08th Dec 2021)

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To promote startups across all the State/UTs, Government of India has launched Startup India initiative in 2016. This initiative aims at building a strong ecosystem for nurturing innovation and Startups in the country. In order to meet the objectives of the initiative, Government has launched various programmes to promote Startups across the country are as below:

  1. Startup India Action Plan: An Action Plan for Startup India was unveiled on 16th January 2016. The Action Plan comprises of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and incubation”. The Action Plan laid the foundation of Government support, schemes and incentives envisaged to create a vibrant startup ecosystem in the country.
  2. Startup India: The Way Ahead: Startup India: The Way Ahead at 5 years celebration of Startup India was unveiled on 16th January 2021 which includes actionable plans for promotion of ease of doing business for startups, greater role of technology in executing various reforms, building capacities of stakeholders and enabling a digital Aatmanirbhar Bharat.
  3. Startup India Seed Fund Scheme (SISFS): Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise. The capital required at this stage often presents a make or break situation for startups with good business ideas. The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Rs. 945 crore has been sanctioned under the SISFS Scheme for period of 4 years starting from 2021-22. It will support an estimated 3,600 entrepreneurs through 300 incubators in the next 4 years.
  4. Fund of Funds for Startups (FFS) Scheme: The Government has established FFS with corpus of Rs. 10,000 crore, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. The total corpus of Rs. 10,000 crore is envisaged to be provided over the 14th and 15th Finance Commission cycles based on progress of the scheme and availability of funds. It has not only made capital available for startups at early stage, seed stage and growth stage but also played a catalytic role in terms of facilitating raising of domestic capital, reducing dependence on foreign capital and encouraging home grown and new venture capital funds.
  5. Ease of Procurement: To enable ease of procurement, Central Ministries/ Departments are directed to relax conditions of prior turnover and prior experience in public procurement for all Startups subject to meeting quality and technical specifications. Further, Government e-Marketplace (GeM) Startup Runway; a dedicated corner for startups to sell products & services directly to the Government.
  6. Self-Certification under Labour and Environmental laws: Startups are allowed to self-certify their compliance under 6 Labour and 3 Environment laws for a period of 3 to 5 years from the date of incorporatio
  7. .Income Tax Exemption for 3 years: Startups incorporated on or after 1st April 2016 can apply for income tax exemption. The recognised startups that are granted an Inter-Ministerial Board Certificate are exempted from income-tax for a period of 3 consecutive years out of 10 years since incorporation.
  8. Exemption for the Purpose Of Clause (VII)(b) of Sub-section (2) of Section 56 of the Act: A DPIIT recognized startup is eligible for exemption from the provisions of section 56(2)(viib) of the Income Tax Act.
  9. Startup India Hub: The Government launched a Startup India Online Hub on 19th June 2017 which is one of its kind online platform for all stakeholders of the entrepreneurial ecosystem in India to discover, connect and engage with each other. The Online Hub hosts Startups, Investors, Funds, Mentors, Academic Institutions, Incubators, Accelerators, Corporates, Government Bodies and more.
  10. National Startup Awards: National Startup Awards is an initiative 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.
  11. International Access to Indian Startups: One of the key objectives under the Startup India initiative is to help connect Indian startup ecosystem to global startup ecosystems through various engagement models. This has been done though international Government to Government partnerships, participation in international forums and hosting of global events. Startup India has launched bridges with over 11 countries (Brazil, Sweden, Russia, Portugal, UK, Finland, Netherlands, Singapore, Israel, Japan, South Korea) that provides a soft-landing platform for startups from the partner nations and aid in promoting cross collaboration.
  12. Support for Intellectual Property Protection: Startups are eligible for fast-tracked patent application examination and disposal. The Government launched Start-ups Intellectual Property Protection (SIPP) which facilitates the startups to file applications for patents, designs and trademarks through registered facilitators in appropriate IP offices by paying only the statutory fees. Facilitators under this Scheme are responsible for providing general advisory on diff­erent IPRs, and information on protecting and promoting IPRs in other countries. The Government bears the entire fees of the facilitators for any number of patents, trademark or designs, and startups only bear the cost of the statutory fees payable. Startups are provided with an 80% rebate in filing of patents and 50% rebate in filling of trademark vis-a-vis other companies.
  13. Faster Exit for Startups: Ministry of Corporate A­ffairs has notified Startups as ‘fast track firms’ enabling them to wind up operations within 90 days vis-a-vis 180 days for other companies.

The Government of India as part of Startup India initiative has implemented Fund of Funds for Startups Scheme and Startup India Seed Fund Scheme to provide financial assistance through Alternative Investment Funds (AIFs) and incubators.

Fund of Funds for Startups (FFS) Scheme: A corpus of Rs. 10,000 crore has been sanctioned under the FFS Scheme, spread over 14th and 15th Finance Commission cycles. FFS Scheme does not directly provide financial assistance to startups, instead supports SEBI-registered Alternative Investment Funds (AIFs), who in turn invest money in growing Indian startups through equity and equity-linked instruments. AIFs supported under FFS are required to invest at least two times of the amount committed under FFS in startups

Startup India Seed Fund Scheme (SISFS): Rs. 945 crore has been sanctioned under the SISF Scheme for period of 4 years starting from 2021-22. 40% of total approved commitment is released as part of first installment to a selected incubator. Subsequent installments are released based on submission of proof of achievement of milestones.

Promoting women entrepreneurship has been a key national agenda for the Government. Out of the 58,000+ DPIIT recognised startups, 46% of them have at-least one-woman director. Further, under Startup India Seed Fund Scheme (SISFS), as on 06th December, 2021, 55 women-led startups have been sanctioned financial assistance.

Furthermore, under Fund of Funds for Startups (FFS) Scheme, as on 6th December, 2021, for 83 women led Startups, Rs. 1046.05 crore has been invested by the AIFs supported under the FFS Scheme.

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

Single Window System (Ministry of Commerce & Industry Press Release 08th Dec 2021)

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While presenting Budget 2020-21, Finance Minister announced plans to set up an Investment Clearance Cell (ICC) that will provide “end to end” facilitation and support to investors, including pre-investment advisory, provide information related to land banks and facilitate clearances at Centre and State level. The cell was proposed to operate through an online digital portal.

Subsequently, as per the mandate, DPIIT along with Invest India initiated the process of developing the portal as a National Single Window System (NSWS). Envisioned as a one-stop for taking all the regulatory approvals and services in the country, NSWS [www.nsws.gov.in] was soft-launched on 22nd September, 2021 by Commerce & Industry Minister.

This national portal integrates the existing clearance systems of various Ministries/ Departments of Government of India and State Governments without disruption to their existing IT portals.

Currently, approvals of 19 Ministries/ Departments and 10 States Single Window Systems have been on-boarded on the NSWS Portal. List of the onboarded Ministries/ Departments and States is as below:

Ministries/ Departments integrated with NSWS:

  1. M/o Corporate Affairs
  2. M/o Environment, Forest & Climate Change
  3. M/o Labour& Employment
  4. D/o Food & Public Distribution
  5. D/o Consumer Affairs
  6. M/o Health & Family Welfare (FSSAI & CDSCO)
  7. D/o Promotion of Industry and Internal Trade
  8. D/o Commerce
  9. D/o Telecommunications
  10. M/o Information & Broadcasting
  11. M/o Power
  12. M/o Railways
  13. D/o Biotechnology
  14. D/o Revenue
  15. M/o Civil Aviation
  16. M/o Agriculture & Farmers Welfare
  17. D/o Fisheries
  18. M/o Textiles
  19. M/o Petroleum and Natural Gas

States integrated with NSWS:

  1. Goa
  2. Gujarat
  3. Himachal Pradesh
  4. Odisha
  5. Uttar Pradesh
  6. Uttarakhand
  7. Punjab
  8. Karnataka
  9. Andhra Pradesh
  10. Telangana

The Know Your Approvals (KYA) Module is an information wizard which guides investors to identify an indicative list of requisite pre-operations approvals/ licenses applicable. This is facilitated by answering a series of questions which gets populated basis the information provided by the investor in the previous question. Post submission of the KYA questionnaire, the investors are able to view an indicative list of licenses pertaining to the Central/ State Governments that are applicable to them. The investors are also guided on these questions and their applicability/ purpose by an Information Toolbox. This is to enhance the ease of user experience and eliminate information asymmetry on this module.

The KYA service is live on NSWS with 544 approvals across concerned 32 Central Ministries/ Departments and 2715 approvals across 14 States. Total 3259 approvals are listed.

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

Collaboration with Foreign Companies under Atmanirbhar Bharat (Ministry of Commerce & Industry Press Release dated 08th Dec 2021)

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The Government announced Atmanirbhar Bharat Abhiyan – a special economic package of Rs20  lakh crore on 12.05.2020 with the aim of making the country self-reliant and to focus on local manufacturing. It focuses on preparing the country for tough competition in global supply chains, enhance the ease of doing business, empower MSMEs, attract investments including FDI and strengthen the policies for Make in India. The package comprises of several long-term Scheme/Programmes intended to make the country self-reliant. These Schemes/Programmes are being implemented by various Ministries/Department.

Government has taken a number of effective measures to make the country self-reliant. Some the key measures are: special economic and comprehensive package of Rs. 29.87 lakh crore, 34.5 percent increase in capital expenditure in Union Budget 2021-22, and relief Package of Rs. 6.29 lakh crore in June, 2021, Production-Linked Incentive (PLI) Scheme with an outlay of Rs. 1.97 Lakh Crore for 13 key sectors, Rs. 3 Lakh Crore Emergency Working Capital Facility for Businesses, including MSMEs, Rs. 45,000 crore Partial credit guarantee Scheme 2.0 for Liabilities of NBFCs/MFIs , Rs. 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers, launch of the PM GatiShaki – a National Master Plan for multi-modal connectivity, reducing compliance burden on citizen and business to simplify, decriminalize & remove redundant laws, a liberal and transparent policy for attracting Foreign Direct Investment (FDI), launch of the National Single Window System (NSWS) as a one-stop for taking all the regulatory approvals and services in the country, building a strong eco-system for nurturing innovation and Startups in the country with the help of schemes such as Fund of Funds for Startups Scheme (FFS), and Startup India Seed Fund Scheme (SISFS) schemes, achieving integration of India Industrial National Land Bank (GIS Land Bank) in states and Make in India for world.

No Global tenders are invited for Government tenders of uptoRs. 200 crore.  Beyond Rs. 200 crore, work by various central Ministries/Departments are undertaken based on merits of the proposal submitted by companies.

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

‘Make In India’ Project (Ministry of Commerce & Industry Press release dated 08 Dec 2021)

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‘Make in India’ is an initiative which was launched on 25th September, 2014 to facilitate investment, foster innovation, build best in class infrastructure, and make India a hub for manufacturing, design, and innovation. It is one of the unique ‘Vocal for Local’ initiatives that promoted India’s manufacturing domain to the world. The ‘Make in India’ initiative is not a State/ district/ city / area specific initiative, rather it is being implemented all over the country.

‘Make in India’ initiative has significant achievements and presently focuses on 27 sectors under Make in India 2.0. Department for Promotion of Industry and Internal Trade (DPIIT) is coordinating action plans for 15 manufacturing sectors, while Department of Commerce is coordinating 12 service sector plans.

The Government of India is making continuous efforts under Investment Facilitation, including financial assistance to Invest India, for implementation of Make in India action plans to identify potential investors. Support is being provided to Indian Missions abroad and State Governments for organizing events, summits, road-shows and other promotional activities to attract investment in the country under the Make in India banner.

Investment Outreach activities are being carried out for enhancing International co-operation for promoting Foreign Direct Investment (FDI) and to improve Ease of Doing Business (EoDB) in the country. Steps taken to improve Ease of Doing Business include simplification and rationalization of existing processes. As a result of the measures taken to improve the country’s investment climate, India jumped to 63rd place in World Bank’s Ease of Doing Business ranking as per World Bank’s Doing Business Report (DBR) 2020 from a rank of 142 in 2014.

DPIIT, in consultation with the State Governments, has also started a comprehensive reform exercise in States and UTs in December 2014. 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.

Measures taken by the Government 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).

Government has taken various other steps in addition to ongoing schemes to boost domestic and foreign investments in India. These include improving the Ease of Doing Business, Reduction in Compliance Burden, the 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), Schemes for Production Linked Incentives (PLI) of various Ministries, India Industrial Land Bank, Industrial Park Rating System etc. With the announcement of PLI Schemes, significant creation of production, employment, and economic growth is expected over the next 5 years and more.

Besides the above, activities under the initiative 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 (DPIIT).

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

What is National Single Window System ? / All CG/SG approvals under one mouse click / Complete Business set up guidelines

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Dear Sir,

Please find below YouTube video link on What is National Single Window System ? II All CG/SG approvals under one mouse click II Complete Business set up guidelines


https://youtu.be/lpV_U3bBmZE

Regards,
Bipul Kumar

India will be the next investment global hotspot (Ministry of Commerce & Industry Press Release dated 16 Nov 2021)

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Shri Piyush Goyal says India will be the next investment global hotspot


Under Prime Minister Modi, India attracted a record FDI during last seven years, each year breaking the previous record for 7 years in a row – Shri Piyush Goyal

“‘Why India?’ to ‘Why Not India!’, and today ‘We must be in India!’, – Global sentiment has changed”

“More success stories here than anywhere in the world today; come, be a part of the unfolding India story” – Minister’s message to the CII National Conference on MNCs

The Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal has said, as per a recent CII-Ernst & Young report, India will be the next investment global hotspot.

“We have the potential to attract an annual FDI in the range of $120- $160 billion by 2025. Last seven years we’ve seen a record FDI, each year breaking the previous record for 7 years in a row. And I do hope to see that continue looking at the major structural reforms, the fact that we have a proactive leader in Prime Minister Modi, willing to listen and willing to change with the changing times,” he said, addressing the 2nd edition of the CII National Conference on MNCs, 2021, through video conference today.

Shri Goyal said global sentiments have changed from ‘Why India?’ to ‘Why Not India!’, and today ‘We must be in India!’ “There are more success stories here than anywhere in the world today, 71 unicorns. Naukri Jobspeak Index for Oct’ 2021 reports a 43% growth in employment over the same month last year. Our Manufacturing PMI (is high) and Service PMI reached a decade high,” he said.

Shri Goyal said Government has introduced several key policy and business reforms for improving the investment climate. “The closest and most recent decision like the privatization of Air India which was successfully bid by the Tata group, the removal of that very, very unfortunate Retrospective Tax which has, I believe, cost us dear in terms of investment climate for many years, the kind of reforms in Mining, in the Coal sector, ones that we are hoping to do in Power, the huge Renewable Energy growth story in India, all of these things, I think, encourage us to look for a brighter future,” he said.

Shri Goyal said the National Single Window System (NSWS) has been launched to serve as a one-stop-shop for approvals and clearance needed by investors. “The portal hosts approvals across 18 Central departments and 9 States. Another 14 Central departments and 5 States will be added by December.”

Shri Goyal said India has all the right ingredients for the Multi-National Corporations (MNCs) and can help MNCs become more competitive at global level. “Diverse business landscape, rule of law & transparent systems, skilled workforce & low labour cost, no forced technology transfers.”

Encouraging the Indian MNCs to take ‘Brand India’ to the world and be ambassadors of India’s culture, quality and values, Shri Goyal said MNCs have been an integral part of India’s growth story and their contribution is immense.

“Whether it’s in terms of building highly skilled managerial talent, whether it’s building good business practices or good manufacturing practices in India, whether it’s the good Corporate Social Responsibility and such social initiatives that are taken up by many of our MNCs. Whether it’s skill development, I think, a huge contribution by the MNCs when it comes to skill development in India, and all of these have had a multiplier effect on the economy,” he said.

Shri Goyal stressed on promoting partnership between the Government and Industry. “This partnership is important more because in today’s time because it gives us ideas, it gives us thoughts, it gives us an opportunity to understand where you come from, what needs to be done and, I think, this partnership needs to be strengthened further as we go along.”

Quoting Prime Minister Modi, “Good and smart governance is needed to bring reforms. The world is a witness to how India is writing a new chapter of governance”, Shri Goyal invited entrepreneurs to be a part of the unfolding India story.