Startup India scheme
- Startup India scheme is an important government scheme that was launched on 16th January 2016 with an aim to promote and support the start-ups in India by providing bank finances.
- The objective of Startup India Scheme is to build a strong ecosystem for nurturing
innovation and startups in the country.
The scheme specifically aims to:
- Trigger an entrepreneurial culture and inculcate entrepreneurial values in the
society at large and influence the mindset of people towards entrepreneurship,
- Create awareness about the charms of being an entrepreneur and the process
of entrepreneurship.
- Encourage more dynamic startups by motivating educated youth, scientists
and technologists to consider entrepreneurship as a lucrative, preferred and
viable career, and
- Broad base the entrepreneurial supply by meeting specific needs of under
represented target groups, like women, socially and economically backward
communities, under represented regions to achieve inclusiveness and
sustainable development
An entity is eligible to apply in the scheme when:
- It is incorporated as a private limited company or partnership firm or a limited liability partnership in India
- It has less than 10 years of history i.e. less than 10 years have elapsed from the date of its incorporation/registration
- The turnover for all of the financial years, since the incorporation/ registration has been less than INR 100 crores
