Start-Up India Consultants will guide you at each step of this IPR benefit. As we have excavated all the information on IPR benefits, all we have to do is to make sure that your business idea gets recognized in the Start-Up India Program. The path to that is quite simple but has few roadblocks in its way. Your idea must be proven an innovative one. For that you will need a supporting document from an incubator (government, private or post graduate college) or should have been a receiver of minimum 20% funding from investors (government, incubators, or SEBI registered funding bodies). After this, DIPP (Development of Planning and Promotion) will give a final nod to your idea to get IPR benefits. Although, its quite an understood fact that if you are going for a patent, your idea must be innovative at many levels. But since this program is in its most initial phase, there might be some hindrance to do documentation things. Our consultancy possesses a team of well-researched people who can guide through this entire procedure without any disturbance. In addition to this, we also have access to professional patent facilitators which are under the government’s program. This will greatly enhance your need as we have gone into these facilitators and can guide you which are credible enough to proceed.
Category: Projects
Tax Exemption
In the action released by the government, a start-up is only eligible to get a rebate on tax if it is recognised as a “start-up” in this programme. The use of the term ‘eligible’ might reduce you to not think about it but mark our words, you will get tax exemption more than comfortably provided that your idea is innovative and focuses on the commercialization of goods and services. The eligibility criteria are made only to make sure that worthy start-ups get full advantages. The path of tax exemption is crystal clear. You have to get a recommendation letter of innovation of your business idea either from an incubator (government, private, post graduate college), investor (minimum 20% funding from the government, SEBI registered investors or incubators) or India Patent Office (patenting your idea). After one of these bodies passes your business plan as innovative, an expert government team from IMB (Inter-Ministerial Board) set up DIPP (Development of Industrial Planning and Promotion) will further give a final nod. Henceforth, you will become eligible to utilise your wealth obtained from the start-up for next three as you will be not liable to pay taxes to the government for such time period.
This step will figuratively build a strong start-up ecosystem in the country. Tax exemption will help new entrepreneurs to survive and prosper in the market. Start-Up India Consultants looks to optimise the ease of reaching to this point. To obtain a recommendation letter from any of the above-mentioned bodies, it requires a lot of presentations and write-ups of the business plan. Our qualified and experienced business and research analysts will make sure that you come up with the best possible pitching of your business. Getting an approval from IMB is not a difficult process either as the government itself is supporting innovative businesses. Joining hands with us will let you know how easy a government process has become now. Our team will take good care of your idea as we ourselves want that each and every idea reaches its deserved result.
Funding
What is funding?
We all hear the term funding once in a while in our daily life. Funding is a process of providing financial resources for a business. There are various funding streams in the world of business such as venture capital, angel investors, credit, donations, grants, crowdfunding, loans etc. The success of any business depends on whether it could generate enough money to run off its projects. One should not take funding just as a money-lending source as the people who provide funding are the ones who actually makes a business worth. The time and effort given while funding a business are as precious as the money itself.Funding in Start-Ups
Without adequate funding, your idea will remain just an idea. India is brimming up with great business ideas. The big start-up industry which has been created here from the past few years cannot run without an active support of investors. Nowadays, funding is more than just providing a financial assistance. It is a mark of credibility to a new business idea. For start-ups, getting an adequate funding is the first step towards its success story. The role of investors is very important as they nurture a start-up in its most initial phase. This phase is a make or break time for such start-ups. Funding not only values an idea, it also puts a great degree of confidence to run it.
The traditional way of funding a business is running out. Apart from money and guidance, funding comes with a slight twist. The investing bodies look for their stakes in these new start-ups. The young entrepreneurs now have to carefully analyse the funding market as the business ideas have started to get more and more valuable. Thus, the role of funding becomes immensely significant as on the one hand it gives the necessary wings to start-ups and on the other hand it tries to take control of that wings. The young minds of today have to reach to many conclusion points on how to raise a funding and then how to get the assurance that their idea will remain theirs only.
This is where we, Start Up India Consultants come in support. We help a start-up achieve a good amount of funding. Our core team of financial analysts does a thorough research on the investing bodies which give financial assistance without taking away the credit ignited from a bright mind. We help the start-ups in the pitching process as well as there is no point of creating a unique business plan and presenting it in an ordinary way.
Funding in Start-Up India Program
The government of India is giving a much needed special attention to people who want to do a new business. In its Start-Up initiative, it looks set to help every potential idea reach the desired goal. As funding is a major concern for many new entrepreneurs, the government has reached out to many angel investors, incubators, and private equities etc. who can give proper financial assistance to a start-up. These investing bodies are SEBI registered and are looking to come out for a greater social cause.
Since it’s a government cause, hence there will be no problem in getting due funding under this initiative. However, there could be few bumps in this journey. First of all, you will have to prove that your business is not redundant and has an innovative edge. Don’t get panic reading the term innovative as it makes a lot of sense that ideas should be creative and mainly should be commercial. For this, the investing bodies require a proper presentation, write-up and an exhaustive business plan.
This is where we again pop out for your assistance. It is true that government is doing everything in order to help new ideas to set up their business. In the research made by our team, we have found that the Start-Up probe is still very young and hence the investors’ list given by the government may not be that efficient. Our consultancy also got to know that some investing bodies may not be that credible as it sounds on paper. Hence, in order to make it a smooth path for you and your business plan, we have delved into the funding process. Apart from helping you in the pitching process, we will help you in determining which investor to look on. This is a very crucial stage as any careless step can lead to an unintentional disclosure of the idea. We also help in setting up meetings as we find that there might a gap between genuine investors and great new ideas. Remember, at Start-Up Consultants, we do not spoon feed a process, rather we get along with you to share our expertise and experience so that you yourself become aware of how things work.
Incubation
Who are Business Incubators?
The word ‘incubator’ often makes us jump to the thought of a premature baby in a safe environment, away from all the noise and infections in the environment. In business speak; an incubator is the guardian of any start up. A non-public organization, which can be either a public or private entity and focuses on delivering various tangible and intangible services. They aim at speeding up the success of any business by nurturing the seed of their business idea. They play the role of both nurturers and accelerators. They are the key driving force in the success of any start up and even developed businesses.
Role of incubators in the success of a start-up…
We have often come across terms like mentoring, training, coaching, office space, networking and seed funding. An incubator works on creating a healthy business environment which provides everything from mentoring to seed funding. They play the role of support system during the early stages, when your business is in waters. An aspirant cannot be a jack of all the trades. These incubators help aspiring business mates in making the right decision by playing the role of an advisory body. One can have an access to various hands on activities of a business and learn through practical experiences from someone who is both an expert and successful. The one-on-one coaching helps they come up with new solutions for old problems.
Apart from providing mentor services, many incubators provide office space and comprehensive training programs.Thus, giving people a chance to work in a physical environment, before kick starting the business.
It gives aspiring entrepreneur an opportunity to network with various bankers, venture capitalists and investors and pitch in their ideas to them and avail seed funding, giving your business a buffet of capital raising options.
Role of incubators under Startup India program…
The incubators are making their presence felt worldwide with the exemplary role they play in the growth of any startup. India boasts of a strong startup ecosystem and the new initiative, Startup India and Standup India, are further accelerating the growth of new business ideas. Incubators are the people who nurture budding entrepreneurs. Under the Startup India initiative, the government wants the blooming buds to concentrate on the core business activities. One of the pre-requisite to gain recognition under Startup India program involves getting a recommendation certificate from the incubators. These
incubators will provide certificate on the basis of:
• How innovative the product or service is.
• Is the product commercially viable?
If your idea, product or service is new or is adding value to the existing products and services, a recommendation letter from incubators can help you avail various benefits under this start up environment stimulating program.
Presently not many incubators are available in the Indian market. There are 278 government incubators and 20 private incubators under the Startup India program. After doing a validate research on these incubators, our professional team has come to a conclusion that, either sector-specific incubators are not available in the market or else these incubators cannot be easily accessible. The list on the government’s website of Startup India program provides contact details of various incubators all around India, but the contact details of many incubators are not validate.
Further one of the main concerns of any entrepreneur with a bright idea is to disclose his or her idea to the incubator at the first stage. The credibility of incubators is the key concern. At Startup India Consultants, our experts help you find the right incubator at right place with right thrust area in accord with the need of your business idea.
There comes a time, when all you want to do is improvise the vision and mission of your business. Startup India Consultants understand the need of incubators who are impeccable for your business. We help bridge the gap between young businessmen and innovators and provide our clients with incubators rich in services like healthcare, electronics, biotechnology, ICT, e-commerce and many more.
India has the third largest startup ecosystem and the first young startup nation with more than 70% of starters below the age of. While a lot of new businesses are built-up every year, yet many of them fail. Their indispensable role in any business cannot be understated.