Definition of a Start Up: Inputs Sought
Examining the Start Up India Action plan in detail, the definition of a Start Up (given below) appears restrictive and re-consideration is required to expand this definition.
We would like to seek your inputs on the definition of a Start Up such that it encourages millions of entrepreneurs to start up, create employment along with social and financial value.
We look forward to your inputs!
Start Up Definition in Start Up India Action Plan
Startups were defined in the SAP as entities incorporated in India with a turnover of less than Rs 25 crore (roughly $4million) in any preceding financial year working towards innovation, development, deployment or commercialisation of new products, processes or services driven by technology or intellectual property. To be certified as a startup and considered eligible for these benefits, there are some additional rules. The startup needs to be “recommended” by a Government of India (GOI) recognised or funded incubator, accelerator or fund. Amongst funds, only those duly registered with SEBI, would be able to “recommend” the startups.
We would like to seek your inputs on the definition of a Start Up such that it encourages millions of entrepreneurs to start up, create employment along with social and financial value.
We look forward to your inputs!
Start Up Definition in Start Up India Action Plan
Startups were defined in the SAP as entities incorporated in India with a turnover of less than Rs 25 crore (roughly $4million) in any preceding financial year working towards innovation, development, deployment or commercialisation of new products, processes or services driven by technology or intellectual property. To be certified as a startup and considered eligible for these benefits, there are some additional rules. The startup needs to be “recommended” by a Government of India (GOI) recognised or funded incubator, accelerator or fund. Amongst funds, only those duly registered with SEBI, would be able to “recommend” the startups.
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Government should come up with solution for finance to start up as 3 years balance sheet may not be available who is starting his business at lrast government financial institutions may be instructed to finance start ups w/o balance sheet ,only on project reports.
Jun 18
I have developed an instrument. Now to apply for Patent right, Patent Claim is to be prepared. Is there any department in Start up India to support for the same. Also I need loan to start the Company. How much loan I can get?
Jan 26
I suggest 1. immediately remove NPA defination for start ups, 2. No permissions except few online with all details 3. Platform to putup developed innovation & ask for funding ( thoroughly transparent) 4. Immediately take care of TAXES as announced, 5. Feedback from banks for their planning for new SCHEMES & executed accounts. 6. Failed START UPs must have some stake in their ventures , since no HONEST START UP will start for failing ventures. It is for profit making 7. Some START UPS may sale their technology for commercial production, hence PATENT must improve. This will ensure START UP claims
Jan 25
If I am a small START UP with lo fund requirement , for LED lighting & solar panel manufacturing & R &D , I am confused. I am with Mr. RAM KUMAR GUPTA. 1. Need govt approval as start up with any incubator : Here banks do not entertain START UPS. or risk ventures. I am trying many but failed. Risk is not covered without security. List of incubators will be all the GOVT banks. Here starts the demotivating factor in start ups 2.Registration with SEBI . Any unit busy with new innovation will desist from all formalities. I believe that as entrepreneurs in INDIA we are used for HURDLE race. But if we have to win with GLOBAL players, getting incentives, govt supports (in real value) then our system mentality has to change. In this definition of START UP PERMISSIONS & APPROVALS are needed. Again control. Nothing will be online immediately. BANKS donot believe Govt GUARANTEE SCHEMES. But can't refuse them too. Sufferers are Entrepreneurs. India do not have ANGELS or Ventures in real sense. To save time either take costly FUNDING or enter CORRUPTION. IS this going to change. Till now only MONEY or FAMILY was working with BANKS.
Jan 25
