I am going convert my dream project to business startup, Do you know how can i get help from government in India for my startup.
The procedure to obtain funding for your startup from the government of India has been made simpler than ever as the Indian government has introduced over 50 start up schemes aimed at boosting the startup ecosystem in India. In the past 18 months, the Indian Government has come up with a wide array of startup schemes and startup funds to encourage launch and growth of startups in the country. However, of the many initiatives, only a few such as fund of funds and tax exemption have gained hype across the startup community. In the list published by ministry of commerce the Indian government provides a fiscal incentive to those who take the initiative to start up. Incentives are for inventions and new improvements in the field of electronics and information technology, software technology and biotechnology. Other than this a start up can purchase raw materials at a lower price and the government will also exempt small and medium business from specific taxes along with proving them space a t a lower cost than the market cost. There are specific funds earmarked by the government for the fields of education and chemical so that people take more initiative to open a start up that concern itself with this field. There are more opportunities as government banks provide loans at cheaper rates and sometimes co own start ups which they think will become a rage.
Indian government has introduced more than 50 schemes for startups in past couple of years. In order to boost the ecosystem of India, each startup has taken its place in here towards this mission. There are more than 4,300 technological startups in India and almost 12,000 are expected to get started in the next couple of years nearly around 2020. There is a scheme called Startup India Plan launched in India recently which can benefit a lot to the startup businesses. There are schemes like protection of electronic information technology, Multiplier Grants Scheme, STP Scheme, Electronic Development Fund (EDF) Policy, the Venture Capital Assistance Scheme, Credit Guarantee, Raw Material Assistance, Single Point Registration Scheme (SPRS) and /many more. All these schemes are made by the government in order to help the Indian Startups so that they can increase the ecosystem of India.