Start-up India Innovation Week
The Department for Promotion of Industry and Internal Trade (DPIIT) is going to organise “Start-up India Innovation Week” during January 10-16, 2022.
Start-up India Innovation Week
- Start-up India Innovation Week is a virtual innovation celebration, to be organised with the aim of commemorating the 75th year of India’s independence.
- It has been designed to showcase the spread and depth of entrepreneurship in India.
- The programme is likely to bring together top policy makers, industry, investors, academia, all ecosystem enablers and start-ups from
Sessions during the week
Start-up India Innovation Week will comprise of the sessions on topics including:
- Enhancing market access opportunities
- Discussions with industry leaders
- Best practices by states
- Capacity building of enablers
- Reverse pitching by incubators
- Technology exhibitions
- Corporate connects etc.
Background of Start-up India initiative
Start-up India campaign was first announced by Prime Minister Narendra Modi on August 15, 2015 at Red Fort. The campaign was introduced as an initiative of developing more than 75 start-up support hubs across India.
What is Start-up India Scheme?
Start-up India scheme was launched on January 16, 2016 with the aim of promoting and supporting the start-ups in India by providing bank finances. Scheme was inaugurated by the former finance minister, Arun Jaitley. It is organised by the Department for promotion of industry & internal trade. Scheme was started with the objective of discarding restrictive States Government policies including License Raj, Foreign Investment Proposals, Land Permissions and Environmental Clearances.
Three Pillars of Start-up India Scheme
The Start-up India scheme is based on three pillars:
- Providing funding support & incentives to different start-ups of India.
- Providing Industry-Academia Partnership and Incubation.
- Simplification and Handholding.
Benefits of the scheme
Key benefits of the scheme include:
- It reduces the patent registration fees.
- It improves the Bankruptcy Code and ensures a 90-day exit window.
- It provides freedom from mystifying inspections and capital gain tax during first 3 years of operation.
- It creates innovation hub under Atal Innovation Mission.
- It also encourages entrepreneurship across India.
Month: Current Affairs - January, 2022
Category: Economy & Banking Current Affairs - 2024 • Government Schemes Current Affairs