Startup Ecosystem In India

• The ongoing initiative of Startup India was launched by the Government of India in 2016. The objective is to boost startup culture and create an environment of entrepreneurship in India.¹ 
• India is the 3rd largest start-up hub in the world.² About 31945 start-ups under the Startup India Initiative are recognized by DPITT to date.³

Sources: 1

• Startup India Hub – To create a single point of contact for the entire Startup ecosystem and enable knowledge exchange and access to funding.¹
• Compliance Regime based on Self-Certification - To reduce the regulatory burden on Startups, allow them to focus on their core business and keep compliance cost low.¹
• Rolling out of Mobile App and Portal - A single platform for Startups to help in interaction with Government and Regulatory Institutions to fulfil business needs and also enable information exchange among various stakeholder.¹

Sources: 1

• Funds of Funds for Startups: About US$ 1.33 Bn approved by the Cabinet and established by the Department for Promotion of Industry is being managed by SIDBI (Small Industries Development Bank of India) to provide a much-needed boost to the Indian Startup ecosystem.¹
• Aspire - A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship – was launched by the Ministry of Micro, Small and Medium Enterprises. It aims to set up a network of technology centres and to set up incubation centres to accelerate entrepreneurship and to promote start-ups for innovation in agro-based industries.2
• Stand-Up India Scheme - launched in 2016 – aims to promote entrepreneurship at the grass root level for economic empowerment and job creation. The objective of this scheme is to facilitate bank loans to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch to enable them to participate in the economic growth of a nation.³
• Atal Innovation Mission – To support the establishment of new incubation centres called Atal Incubation Centres (AICs) that would nurture innovative start-up businesses in their pursuit to become scalable and sustainable enterprises.

Sources: 1, 2, 3

• Patent Rules, 2003 and Trade Mark Rules, 2017 have been amended to streamline processes, to make them more user-friendly.¹
• Start-ups Intellectual Property Protection (SIPP) scheme was launched to encourage innovation and creativity in startups. Under this scheme, 80% rebate for patent filing fees and 50% for trademark filing is provided to startups.²
• Support for International Patent Protection in Electronics & Information Technology (SIP-EIT) offers partial reimbursement of expenses incurred in a patent filing.³

Sources: 1, 2, 3