DIPP recognises 5,350 start-ups to avail benefits under start-up India initiative

The commerce and industry ministry on Wednesday said that a total of 5,350 start-ups have been recognised by the department […]

   

The commerce and industry ministry on Wednesday said that a total of 5,350 start-ups have been recognised by the department of industrial policy and promotion (DIPP) for availing benefits under the start-up India initiative. Under the fund of funds for start-ups (FFS), 75 startups have received funding to the tune of Rs 337.02 crore. Further, 74 start-ups have been recognised to avail tax exemption under the Income Tax Act, it added. “Under DIPP-recognised 5,350 start-ups, at least 40,000 people have been employed,” the ministry said. It further said that start-up India hub has been established as a single point of contact for the entire start-up ecosystem to enable knowledge exchange and access to funding. As per the statement, the hub has resolved 75,643 queries pertaining to starting a business, access to incubation, and raising funds, among other things. Under the FFS, Rs 500 crore was released to SIDBI in 2015-16 and Rs 100 crore in 2016-17.

Trending

Harishankar-Bahety

Too much tax, shortage of skilled talent are Indian footwear industry’s biggest challenges: Unistar founder HS Bahety

zomato uber eats swiggy

Zomato acquires Uber Eats for Rs 2,485 crores

MSMEs

GeM has processed orders worth ₹ 40,000 cr in GMV in last 3 years, 50% transacted by MSMEs

Day-after-Piyush Goyal snub-Jeff-Bezos

Day after Piyush Goyal snub, Amazon commits to create one million new jobs in India by 2025

Amazon's-$1-bn-investment-in-India-no-big-favour--Minister-of-Commerce-&-Industry

Amazon’s $1 bn investment in India no big favour: Piyush Goyal, Commerce & Industry Minister

Jeff Bezos India visit

Amazon CEO, Jeff Bezos bets on Indian century, invests $1 bn digitizing MSMEs

MSME loans

Piyush Goyal: CGTMSE, SIDBI to set up framework for faster processing of SME loans

GST

Nirmala Sitharaman: GST to be further simplified for traders

UK Sinha committee

Government invites stakeholder’s suggestion on National Technology Mission for MSMEs

Delhi-NCR-the-largest-start-up-ecosystem-in-India,-surpasses-Bangalore

Delhi-NCR the largest start-up ecosystem in India, surpasses Bangalore

Premium Organic Soaps- Contribution to the Community

Anant-Nahata

Public charging infrastructure will be key to electric vehicle success in India: Anant Nahata, MD, Exicom