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Ramesh Abhishek: Government’s web portal for start-ups to be launched next week

Ramesh Abhishek: Government’s web portal for start-ups to be launched next week

Ramesh Abhishek: Government’s web portal for start-ups to be launched next week

The Government of India has decided to launch a new web portal for start-ups, paving way for them to get encouraged with the support that they get from the government in the way they start or conduct their business.

Ramesh Abhishek, Secretary in the Department of Industrial Policy and Promotion, has given word that steps have already been taken to work towards this initiative, by means of the “Startup India” motive. He says that this department had made things easier for start-ups by helping them in making their work easy, by helping them file their IPR (Intellectual Property Rights) quickly.

He stated that this initiative will be commenced in a week’s time and that the steps for registering the start-ups will also be started then. He says that alliance with the state government has and will help them in the process of certifying/registering themselves in terms of labour. In addition, skill improvement plans have also been introduced for such start-up companies.

In order to encourage the launch and growth of such start-up companies, the Government had introduced the plan of relieving the companies from paying taxes for the first three years. Also, to encourage innovation, a special scheme has been introduced with a ten percent reduction on tax, from worldwide study and research on patents that are registered and developed in India.

As a proposal of the “Start-up India Action Plan”, a proposal has been made to raise a “Fund of Funds”, in order to raise a total of Rs. 2,500 crores every year for four years, as an aid to start-ups for their finance and management.

Our nation houses nearly 18,000 start-ups, making it the third largest holder of start-ups, after The U.S. and England. This initiative  of the government would definitely be a catalyst for Start-ups.