Page 41 - Banking Finance August 2022

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(ix) Patent regime to be simplified
(x) Easier Public procurement norms and minimum
requirements to get listed as a seller
(xi) Patent regime to be simplified
(xii) Dedicated fund of Rs.2500 crore for startups, as well
as a credit guarantee fund of Rs.500 crore rupees to
offer a cover for loans provided by banks
(xiii) Income Tax exemption for a period of the first three
consecutive years and also exemption on capital gains
& investments above the Fair Market Value and,

(xiv) Easy winding up on completion of seven years from
the date of incorporation/registration and the
turnover for any previous year exceeding Rs.25 crores
and also easy exit from business under Insolvency and (ix) Udaan Training Programme for Unemployed Youth of
Bankruptcy Code. J&K

(x) Loan for Rooftop Solar PV Power Projects
These and other incentives are made available under
different schemes specially formulated for startups which are (xi) Dairy Entrepreneurship Development
classified into traditional and new. (xii) Single Point Registration
(xiii) Support for International Patent Protection in
Startup Schemes:
Electronics & Information Technology
(A) Traditional Schemes:
(xiv) Cluster Development by Khadi and Village Industries
These schemes aim to provide funds, banking, accountancy, Commision (KVIC)
product description, overall development, legal backing,
(xv) Grant to Professional Bodies & Seminars/Symposia in
branding, design, launching, publicity, marketing etc. These
Science & Technology
schemes are launched by different Government
departments/sponsored organizations such as National (xvi) Establishing Collaboration between R&D Academic
Small Industries Corporation (NSIC) etc. and lending institutions and Industry
institutions including Small Industries Development Bank (xvii) Grant for New-Gen Innovation and Entrepreneurship
of India (SIDBI), National Bank for Agriculture and Rural Development
Development (NABARD) and banks.
(xviii) Venture Capital Assistance Scheme for Agri-
entrepreneurs
The major traditional schemes are meant for
(xix) Stand-up India for SC/ST and Women Entrepreneurs
providing:
(i) Support for International Patent Protection in (xx) SIDBI Sustainable Development Projects for Energy
Electronics and Information Technology Efficiency and Cleaner Production
(ii) National Clean Energy Refinance Fund (xxi) SIDBI- Make in India for enterprise and,
(xxii) Working Capital finance by banks. Details of these
(iii) Modified Special Incentive Package
schemes are available by visiting NSIC web-site.
(iv) Performance and Credit Rating
(v) Raw Material Assistance (B) New Schemes:
(i) Startup India Seed Fund Scheme, 2021- The scheme
(vi) Support for Promotion of Innovation
provides seed funding, inspire innovation, support
(vii) Entrepreneurship Development in Agro-Industry
transformative ideas, facilitate implementation and
(viii) Coir Udyami Yojana undertake startup revolution. It aims to provide financial

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