(percentage of startups) | Source: iamwire
THE GOVERNMENT OF INDIA DEFINES A STARTUP:
Startup means an entity, incorporated or registered in India not prior to five years, with annual turnover not exceeding Rs.25 crore in any preceding financial year, working towards innovation, development, deployment or commercialisation of new products, processes or services driven by technology or intellectual property.
STARTUP INDIA: A MOONSHOT NATION!
Three to four startups are born every day in India. The sheer pace at which the business landscape is changing bodes well for entrepreneurs. Young startups in India are all set to adopt Google’s moonshot approach: take on huge problems, define radical solutions and involve some form of breakthrough technology. They are risk-takers, eager to disrupt the market and grow audaciously! Through his “Start-up India” initiative, Prime Minister Narendra Modi seeks to nurture this spirit of innovation, create business opportunities in India and build “a nation of job creators”.
STARTUP INDIA »
A SINGLE POINT OF CONTACT
NO INSPECTION FOR FIRST 3 YEARS
NO INCOME TAX ON PROFITS FOR 3 YEARS
MOBILE APP FOR REGISTRATION IN 1 DAY
NO CAPITAL GAINS TAX ON PERSONAL PROPERTY SOLD TO INVEST IN A STARTUP
80% REBATE ON PATENT FILING FEE
500 TINKERING LABS
35 PUBLIC-PRIVATE INCUBATORS
31 INNOVATION CENTRES AT NATIONAL INSTITUTES
DEDICATED FUND OF 10,000 CRORE
CREDIT GUARANTEE SCHEME FOR LOANS
5 NEW BIO CLUSTERS & 7 NEW RESEARCH PARKS
PATENT REGIME & IPR TO BE SIMPLIFIED
90 DAYS TO EXIT BUSINESS
FOUR FACTORS MAKE INDIA’S STARTUP ENVIRONMENT UNIQUE:
- The growth opportunity for the country’s internet user base and its new digital economy.
- There is increasing access to low-cost data and mobile phones.
- The growing number of entrepreneurs who have access to risk capital.
- The Indian government’s support accompanied by a general positive macroeconomic sentiment.
— Bejul Somaiya, MD, Lightspeed
Startups generate employment, bring innovation and are expected to be key partners in the “Make in India” programme.
DID YOU KNOW?
Trend Scouting: Top Four Startup India Trends
- Prominent angel investors: Famous personalities from business, Bollywood and cricket are mentoring and investing in upcoming startups.
Since his retirement in 2012, Ratan Tata has devoted himself to startups. With investments in more than 25 businesses, he is considered one of India’s most famous venture capitalists.
- Global tie-ups: Startups are partnering with global companies to expand their customer base.
OYO Rooms is collaborating with Thomas Cook by opening rooms in 3,200 hotels across 140 cities for the latter’s customers.
- Foreign investment: Consumer growth, based on India’s (rather dramatic) mobile revolution, is attracting international investors.
With an investment of around $422 million in 2014, New York-based Tiger Global Management (TGM) emerged as one of India’s leading foreign investors.
- Mergers & acquisitions: The big boys are acquiring upcoming, mostly tech-based startups.
Facebook bought Little Eye Labs.