Scheme for STARTUP'S

   


List of schemes for STARTUP'S launched to develop and encourage entrepreneurship in India.


The Government of India since 2016 has been launching various schemes and initiatives to promote, encourage & kick start the start-up culture in India. These are listed below ;

1. Startup India Seed Fund:





On 16 January 2021, Prime Minister Narendra Modi announced the launch of the 'Startup India Seed Fund' — worth INR 1,000 crores — to help startups and support ideas from aspiring entrepreneurs. PM Modi said that the government is taking important measures to ensure that startups in India do not face any capital shortage. 

seedfund.startupindia.gov.in/


2. Startup India Initiative:



The Prime Minister of India launched the Startup India Initiative in the year 2016. The idea is to increase wealth and employability by giving wings to entrepreneurial spirits. The government gives tax benefits to startups under this scheme and 798 applicants have made use of this scheme to date. The Department of Industrial Policy and Promotion is maintaining this initiative and is treating it as a long term project. Moreover, the overall age limit for startups has been increased from two years to seven years. And for biotechnology firms, the age limit is ten years from the date of incorporation. It is one of the best government-sponsored startup schemes for entrepreneurs as it is provides several concessions.


www.startupindia.gov.in/content/sih/en/startup-scheme.html


3. ASPIRE:




The government has made continuous efforts to improve the social and economic aspects of life in rural areas of India. Since 56% of the Indian population lives in the rural areas, the government is promoting entrepreneurship and innovation in the rural sector. The ASPIRE scheme aims at increasing employment, reducing poverty, and encouraging innovation in rural India. However, the main idea is to promote the agro-business industry. The Ministry of Medium and Small Enterprises has tried to boost economic development at the grassroots level. The total budget of the scheme was INR 62.5 crores for the period of 2014-2016. 


www.startupindia.gov.in/content/sih/en/government-schemes/aspire-scheme-promotion-innovation-entrepreneurship-and-agro-industry.html


4. Mudra:



Micro Units Development Refinance Agency (MUDRA) banks has been created to enhance credit facility and boost the growth of small business in rural areas. The government has introduced this scheme to support small businesses in India. In 2015, the government allocated INR 10,000 crores to promote startup culture in the country. The MUDRA banks provides startup loans of up to INR 10 lakhs to small enterprises, business which are non-corporate, and non-farm small/micro enterprises. MUDRA comes under Pradhan Mantri Mudra Yojana (PMMY) which was launched on 8 April 2015. The loans have been categorized as Tarun, Kishore, and Shishu. The assets are created through the bank’s finance and there is no collateral security. 


www.mudra.org.in/

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