9 Innovative ways to Finance a Startup

Dear Friends,

Please find below YouTube video link on 9 Innovative ways to Finance a Startup (Startup Financing-Part 2) https://youtu.be/qnUknq7TGsw

Regards,
Bipul Kumar

Related video :

  1. Startup Financing-Part 1 https://youtu.be/Go_BhdtaXv8

2. Tax benefits for Startup
https://youtu.be/1DDJ1_LlhfA

3. Virtual CFO suitable for Startup business
https://youtu.be/UGuqgP29X98

4. Fund raising options for Private Limited Company
https://youtu.be/YcpfF_WXB2w

Highest ever merchandise exports in a quarter (Q1 2021-22, USD 95 billion) in the history of India

Highest ever merchandise exports in a quarter (Q1 2021-22, USD 95 billion) in the history of India


India sets a target of USD 400 billion merchandise exports in 2021-22

Despite COVID-19, labour-intensive sectors (engineering goods, rice, marine products, etc.) saw a rapid export growth

Highest ever FDI inflow of USD 81.72 billion in 2020-21

Number of startups recognised by DPIIT goes up to 50,000, spread across 623 districts

Shri Piyush Goyal said, “the world sees India as the trusted and reliable partner”

Ministry of Commerce & Industry Press release dated 02 July 2021

The Minister of Commerce & Industry, Railways and Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal held a press conference today to showcase the achievements of the Ministry of Commerce and Industry in Q1 (April – June) of 2021-22. He mentioned how an ambitious target of USD 400 billion exports has been set for 2021-22.

Shri Piyush Goyal said that sector specific interventions, involvement of all the stakeholders and functioning of the Government as a whole helped in achieving the growth. Simplification of procedures, extension of timelines and licences, all of that has resulted in the record performance of exports, he added. He specially thanked the Hon’ble Prime Minister Shri Narendra Modi ji for leading from the front, and holding discussions with various stakeholders through webinars after the Union budget, and encouraging everyone to put in their best.

Shri Piyush Goyal further said that the performance of the services sector has also been excellent, and despite the pandemic, almost 97% of 2019-20 service export levels were achieved in the last FY. He said that after deliberations with the stakeholders, he is confident that USD 350 billion service exports can be achieved by 2025, and may even go up to USD 500 billion very soon.

The press conference was also attended by Ministers of State for Commerce & Industry, Shri Som Parkash and Shri Hardeep Singh Puri. The Secretaries of the Department of Commerce and DPIIT then briefed the media about the achievements of their respective departments.

Highest Ever Merchandise Exports in the history of India

Highest ever merchandise exports of USD 95 billion in Q1 of 2021-22 has been achieved in the history of India. This is 85% higher than exports of Q1 of 2020-21 and 18% higher than the exports of Q1 of 2019-20. It is also 16% more than the previous highest Q1 exports of 2018-19 (USD 82 billion) and is higher than the earlier peak of exports in Q4 of 2020-21 (USD 90 billion).

Labour intensive sectors seeing rapid export growth

Several Labour-Intensive sectors have seen a rapid export growth. The exports in the engineering goods sector has increased by USD 5.2 billion over Q1 of 2019-20. Likewise, Rice exports growth has remained positive since May 2020 and rose by 37% in Q1 of 2021-22 compared to Q1 of 2019-20

India’s Exports Performance Vis-a-vis Major Economies in April 2021

India showcased robust export performance in April 2020 compared to major economies of the world. As compared to April 2019, India’s exports growth during April 2021 was higher than other major advanced economies like European Union, Japan, USA, Republic of Korea & United Kingdom

Record FDI Inflows

India received the highest ever FDI inflow in 2020-21 of USD 81.72 billion. This is higher by 10% compared to USD 74.39 billion achieved in 2019-20. The positive momentum continues with FDI inflow of USD 6.24 billion during April 2021, which is 38% higher than April 2020.

Startup India

Number of startups recognised by DPIIT has crossed 50,000 and is spread across 623 districts in India. With these startups nearly 1.8 lakh formal jobs have been created by 16,000+ recognised startups in 2020-21. Several times more have benefited from the Startup ecosystem.

Reducing Compliance Burden

To improve the ease of doing business and reduce the compliance burden 6,426 compliances have been reduced in Phase-I. 3,177 compliances are being been reduced in Phase II. The timeline for Phase I was 31st March 2021 & Phase II is 15th August 2021.

Investment Clearance Cell

The National Single Window System is a one-stop digital platform to obtain clearances & approvals. In the phase-1 of integration,  43 Depts/Ministries & 14 States Single Window Systems are being on-boarded. The pre-launch version is undergoing extensive testing and we are gearing up for a soft launch.

The Hon’ble Minister concluded by saying that the world sees India as the trusted and reliable partner, and has more confidence in India’s capability to provide quality products and services on time. With the goods and services gaining momentum, a large number of employment opportunities will be generated, the economy will strengthen, revenues will increase, and the government will be able to help the disadvantaged sections in a more substantive manner.

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YB/SS

Atal Innovation Mission concludes first fintech cohort of ‘AIM-iLEAP’(Innovative leadership for entrepreneurial agility and profitability)as major step to accelerate Tech Start-ups across India

In a move to give a major push to tech startups across the country, Atal Innovation Mission, NITI Aayog Wednesday concluded its first fintech cohort of AIM-iLEAP- an initiative to back tech start-ups with much-needed access to industry, markets and investors.

The fintech cohort was done through a series of thematic virtual demo days organised AIM in partnership with Startup Réseau and Visa as part of AIM-iLEAP (Innovative leadership for entrepreneurial agility and profitability) initiative.

The program had kickstarted with the inaugural four-day bootcamp for “FinTech” start-ups (the chosen few from among the several AIM supported Fintech start-ups) from 14th to 17th June, 2021.

The Fin-Tech cohort consisted of start-ups from a wide range of areas such as- payments, international money transfers, personal finance, consumer banking, insurance, neo bank etc. In the bootcamp they got an opportunity to fine-tune their pitches, work on their GTM strategy, understand more about the fintech ecosystem, ask questions to sectoral experts and so on.

After going through rigorous polishing, the start-ups showcased their solutions to various enterprises for market access and investors for funding via the inaugural virtual Demo Day on 30th June 2021. The Demo Day saw participation from a large number of corporates and investors. Fintech giants such as Visa, Paytm etc as well as big investors attended the program.

As per the AIM’s mission, AIM-iLEAP bootcamp and demo day is the first among the many more to come initiatives to push startups in the country. Future cohorts shall be focussed on different sectors such as Agri-tech, Defence Tech, Smart Mobility, AI and so on.

While speaking on the virtual event today, Mission Director AIM, NITI Aayog Dr Chintan Vaishnav said that the main mandate of AIM is to catalyse India’s start-up and innovation ecosystem and the AIM-iLEAP program is a step in that direction.

 “It gives a structured yet lite-weight approach to bring together the start-ups, enterprises, investors and financers to come together and create partnerships that would help these start-ups to take a leap forward in achieving more scalable and sustainable solutions,” he asserted.

He further said that this will help to build trust and confidence among all the stakeholders which are the vital ingredients of a vibrant start-up and innovation ecosystem. Fintech community is at the forefront of building an ecosystem where everyone wins; such platforms catalyze movement towards reaching such a goal. It is AIM’s main objective to culminate into reality the vision of an Indian innovation ecosystem that runs sustainably on an auto-pilot mode.

Partnered with AIM, Startup Réseau aims to attract participation from 80 – 100 corporates for a series of 12 thematic bootcamps and Virtual Demo Days, over the course of the program.

 It has developed a structured, result-driven model, for providing an environment to the corporations to set up new rules, enabling a possibility to proactively spot new ideas on the edge, as well as at the core of its business, and a place where such disruptive ideas can be protected from the organization while also being supported by it.

Founder & CEO, Startup Réseau Ajay Ramasubramaniam while speaking during the virtual event said “We firmly believe that successful models of incubation and acceleration of start-ups require broader participation of the industry at large. Atal Innovation Mission is a fantastic enabler of incubators and the infrastructure supporting innovation and entrepreneurship.”

He added that Startup Réseau brings a strong global network of mentors, enterprise connections and investors that can be leveraged by these start-ups supported under Atal Incubation Centres. Through AIM iLEAP, the AIM is to enable next-gen start-ups in India, through a series of bootcamps and demo days that will open up access points.

AIM has also onboarded an industry partner Visa-a corporation known globally for backing entrepreneurship. The digital payments company will be extending their API’s and services to the start-ups. They will also provide the B2B and B2C start-ups their platform for digitized payments.

Commenting on the partnership, Arvind Ronta, Head – Products, India and South Asia, Visa said, “Visa has always been a reliable partner for fintech’s across the world and in India, whether by opening our APIs to them or through programs like Visa Everywhere Initiative. Now, we are excited to collaborate with the AIM for the AIM iLEAP program and work with tech start-ups across India. Through this partnership, we hope to enable opportunities for India’s innovative start-up ecosystem to take secure, scalable solutions to market faster.” 

Meanwhile, the Demo Day started off with a keynote address on maximising customer experiences for the fintech players by a seasoned fintech expert, Jitendra Gupta, founder of neo-banking start-up Jupiter and Citrus Pay.

This was followed by a panel discussion on ‘Facilitating innovation for corporates and start-ups in Fin-tech sector’.

It was a riveting and insightful discussion presided by prominent and distinguished personalities from some of the national and international fin-tech giants, Including Pramod Mulani, head digital of India and South Asia at Visa, Lincy Therattil, Head – Open Innovation at Barclays, Dr Chintan Vaishnav, Mission director of Atal Innovation mission and Ajay Ramasubramaniam, founder and CEO of Startup Réseau.

A closed-door pitching session by the eight AIM supported fintech start-ups to the investors and enterprises from was also held today. The demo day was concluded with the closed room networking session between the start-ups and investor/enterprises. The Demo Day saw participation from some marquess names in the fin-tech enterprise and investor ecosystem including fintech giants such as Visa, Paytm amongst others.

The start-ups that were showcased includes FinOS, VillPay, Kutumba, Mudracircle,  Earnhance (Mkix Pvt Ltd) , Yottol , Strafox Consulting India Pvt Ltd, and Finaara Technologies Pvt Ltd.

The objective of the AIM-iLEAP program is to invite technology start-ups across a broad range of functions and have them present their solutions to the corporate leadership and innovation team for enabling market access and industry partnerships. On the other hand, individual and institutional investors participating in this program shall consider investing in the curated set of AIM supported start-ups.

Working as an apex body for innovation and entrepreneurship in the country, AIM has access to over 2000+ tech start-ups pan-India through its member base of 65+ business incubators, 24 ACICs, 15 ARISE-ANIC and over 7200+ATLs.

Niti Aayog Press release dated 30 June 2021

DS /AKJ

Pune based start-up all set to bring non-toxic, gentler, long lasting hand sanitiser to the market

Ministry of Science & Technology issued Press release today (17th June 2021)

An environment friendly hand sanitizer that is gentle on the hands and does not dry them, will soon be available in the market. The alcohol free, aqueous, non-inflammable and non-toxic hand sanitizer has been developed from Silver Nanoparticles by a Pune based start-up.

Recurrent drying up of hands due to repeated application of hand sanitizers is a challenge which people have faced during the COVID 19 pandemic.

The hand sanitizer developed by WeinnovateBiosolutions prolongs antimicrobial activity thus obviating the need for repeated applications.Silver nanoparticles give slow and sustained release of silver ions to kill microorganisms that come in contact. Besides, it can be stored in ambient conditions.

It has successfully completed Central Drugs Standards Control Organisation (CDSCO) approved clinical trial for the hand sanitizer and demonstrated high efficiency in killing viruses.

WeinnovateBiosolutionswas supported by CAWACH 2020 grant of National Science and Technology Entrepreneurship Development Board (NSTEDB) under the Department of Science and Technology (DST) and incubated at Entrepreneurship Development Centre (Venture Centre), Pune. They developed the colloidal silver solution-based hand sanitiser. The technologyoperates on the ability of the silver nanoparticles to prevent the synthesis of viral negative-strand RNA and viral budding.

“We are very confident of the study outcomes and waiting to get the license for our hand sanitiser formulation from CDSCO, India. We are sure that such innovation will push India towards its ‘Atmanirbhar Bharat’ mission and make India a self-sustained nation to face such pandemics in future”, said Dr. Anupama Engineer, Cofounder & COO WeinnovateBiosolutions.

Silver nanoparticles have been found to be an effective antiviral which act against many deadly viruses like HIV, Hepatitis B, Herpes simplex virus, Influenza virus, and so on. Recent reports have suggested the role of Glutathione capped-Ag2S NCs (Silver nanoclusters) in inhibiting the proliferation of Coronavirus by preventing the synthesis of viral negative-strand RNA and viral budding. Thecolloidal silver on which the technology of the sanitizers of WeinnovateBiosolutions is based can help arrest Covid -19 spread by blocking the RNA replication and infectivity by blocking the surface glycoproteins.

A study to evaluate the efficacy of hand sanitiser on different types of viruses is also currently underway by the group.

https://static.pib.gov.in/WriteReadData/userfiles/image/image001BK60.pnghttps://static.pib.gov.in/WriteReadData/userfiles/image/image0020JDB.png

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SS/RP (DST Media Cell)

Fund raising options available for Private Limited Company

Every business needs fund for plant/machinery/fixed assets, working capital, business expansion etc. In this video, I have listed some fund raising options available for Private Limited Company as under-
A. Further Issue of Capital
Right Issue, Employee stock optional plan (“ESOP”), Private Placement/ Preferential Allotment B. Loan and Debenture– Loan, Unsecured Loan from Director and his Relatives, Debenture C. Deposit D. Inter-corporate Deposit E. Angle Investor F. Venture Capital G. Misc– Trade Payble/Creditors , Customer advance.

Please refer YouTube video link (PPT) for details

Regards,
Bipul Kumar

Monthly compilation of Video on Company Law, Succession planning, Income Tax & GST

Dear Sir,

Please find below YouTube link of Monthly compilation of Video on Company Law, Succession planning, Income Tax & GST for your easy reference:

👉 Company Law

Setting of Branch offices of Foreign Company in India
https://youtu.be/Y30q0ZgcMcU

Nidhi Company-each & everything
https://youtu.be/maS_1205vO4

Producer Company-each & everything https://youtu.be/MP-t3sg_qWg

CSR Funding: Ngo registration for getting CSR Funding https://youtu.be/j-OG40NJl9Q

Managerial Remuneration
https://youtu.be/a9DHcuu8iyI

Presentation of Financial Statements w.e.f. 01st April 2021
https://youtu.be/kExSlqi14os

Limited Liability Partnership & its suitability
https://youtu.be/_06iCBKsDc8

👉 Succession planning

Each & everything about Will https://youtu.be/W80MGdy0kio

Partition of Property https://youtu.be/IaQ03qcRWDg

👉 Income Tax

Fair Market Value calculation for Section 50B (Slump Sale) of Income Tax Act, 1961Updated by Notification No. 68/2021 -24th May, 2021
https://www.youtube.com/watch?v=UILmcJxns9k

Extension of ITRs, Tax Audit Report, TP Audit Report, Belated/Revised Return for FY 2020-21 https://youtu.be/scXDMjZ9v2k

Tax benefits for Startup
https://youtu.be/1DDJ1_LlhfA

New Rules of for registration u/s 12AB & 80G w.e.f. 01-04-2021 https://youtu.be/JfKVfZ9mk6Q

👉 GST

Accounts & records maintained under GST
https://youtu.be/k4xmiu_9mE0

GST Amnesty Scheme (July 2017 to April 2021-GSTR 3B Return)
https://youtu.be/NQ_XeOv_uXU

Late fees Rationalisation for April 2021 onwards period
https://youtu.be/NZMZhi5mG2k

Simplification of Annual Return for FY 2020-21 https://youtu.be/L21Over9X3w

Covid related measures for taxpayers https://youtu.be/Mb7Ae2LMm1E

Regards
Bipul Kumar

Tax benefits for Startup(Updated by FY 2021)

Dear Sir,

Please find below YouTube link of video on Tax benefits for Startup(Updated by FY 2021)

✔️ Is your Company A Startup?

✔️ Deduction u/s 80-IAC of Act (Profit based deductions)

✔️ Tax exemptions on investments above fair market value (Angel tax)

✔️ Relaxed provisions for set-off and carry forward of losses

✔️ Tax exemption to individual/ HUF on investment of long term capital gain in equity shares of eligible startups u/s 54GB

Regards,
Bipul Kumar