Dedicated Portal to Make Registration of Startups Easy

Startups will now be able to get themselves registered online in a day to avail of all the incentives through a dedicated portal and a mobile application for the same to be launched this week.

The Department of Industrial Policy and Promotion (DIPP) has developed the portal to provide all information about tax benefits and incubation facilities to be provided by the government. It would enable the companies to get registered and thereafter be validated by the DIPP as eligible startup entities.

The portal will also serve as a single point of contact for clearances, approvals and registrations, and for companies to apply for schemes under the Startup India Action Plan.

“This is part of our effort to create a conducive environ ment for startups. It will facili tate easy exchange of information between all stakehol ders,“ a senior official said.

The DIPP would also at a la ter stage equip the Startup In dia portal to get the compani es registered under the Com panies Act. Prime Minister Narendra Modi, while announcing the Startup India Action Plan in January, had said that a portal and app dedicated for startups will be launched on April 1.

The portal is meant to bring together all stakeholders including startups, incubators, accelerators, venture capital funds, seed capital funds, angel investment funds and government functionaries on one platform.

Government had announced a 12-point action plan to give a fillip to the startup movement in India. It included a string of incentives for the startups such as greater access to capital, incubation and talent for startup companies.

Modi had announced a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and . 10,000-crore corpus for fun` ding of startups.

In order to reduce the regulatory burden on the startups, the action plan also includes a self-certification scheme in respect of nine labour and environment laws and there will be no inspection during the first three years of launch of the venture.