Home » Business » Over 550 startups mentored for incubation and funding support 

Over 550 startups mentored for incubation and funding support 

For incubation and funding support more than 550 Startups have been mentored, 2,20,000 registrations have been achieved and over one lakh queries have been handled by the Startup India Hub as of June, 2018.

Eighty incubation centers including Atal Incubation Centres and Established Incubation Centres have been selected for funding by the NITI Aayog in the second phase of Statrup India programme announced in May 2018. Nineteen Incubation Centres were selected in the first phase in year 2017-18.

Atal Innovation Mission has launched the Incubation Centre Monitoring and Evaluation Platform in July 2018 where data related to incubation performance is submitted by incubators every month. The performance analysis will be conducted once there is sizable data from monthly reports.At present, more than 360 start-ups have been incubated in the Atal Incubation Centres and Established Incubation Centres, established by the Atal Innovation Mission.Thirty-one incubators have been setup under Startup India Initiative by the Department of Bio-Technology and their performance is reviewed on yearly basis by National Level Experts. The Department of Science and Technology has set up 11 Technology Business Incubators (TBI) under the Startup India action plan. The performance of the TBIs is evaluated during periodic review by the National Expert Advisory Committee on Innovation, Incubation and Technology Entrepreneurship.2441 schools have been selected for establishing tinkering labs under Atal Innovation Missionand Rs. 12 Lakh each has been disbursed to 1657 tinkering labs.15 Startup Centres have been approved for building Innovation Centres at National Institutesjointly by Department of Science and Technology and Ministry of Human Resource Development.

Startup India portal has been developed to provide one stop solution for all queries related to the Startup India initiative and Startup India mobile app has also been developed to provide on the go services and information to users. 11,129 Startups have been recognised till 15th July 2018 and over 2,15,000 registrations achieved under learning & development module.

Patent filing has been made faster for Startups and 1029 facilitators have been empanelled to assist Startups in fling of patents and trademarks. 743 applications have received rebate of up to 80% on patent fees and have also received legal assistance. Trademark facilitation has been extended to 1095 Startups as of June, 2018.

Public procurement norms has been relaxed for Startups by the Ministry of Micro, Small and Medium Enterprise.Provision has also been made for faster exit of Startups in Resolution Process under Insolvency and Bankruptcy Code.

Rs. 500 crore has been released to SIDBI in FY16 and Rs. 100 crore in FY 17 out of Fund of Funds for Startups of Rs. 10,000 crore. Total amount of FFS is to be released over two Finance Commission cycles, that is, by the year 2025. Total commitments under FFS stand at Rs.1285.7 crore to 27 Alternative Investment Funds (AIFs). 142 Startups have received funding under FFS with catalysed investment of Rs. 602.60 crores.

This information was given by the Minister of State of Commerce and Industry, C. R. Chaudhary in the Lok Sabha

About Indianindustry Media

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Finance Minister announces Government Reforms and Enablers across Seven Sectors under Aatma Nirbhar Bharat Abhiyaan

In her opening remarks during the 5th Press Conference here today on stimulus package to fight ...

Index Numbers of Wholesale Price in India (Base: 2011-12=100) for April, 2020

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing ...

PM Modi announces special economic package worth Rs 20 lakh crore to kick-start economy

Prime Minister Shri Narendra Modi addressed the nation today. Recalling those who have died battling ...

Amid lockdown HIL (India ) limited eying big orders from African countries

Despite enormous logistic and other challenges posed by COVID-19 lockdown, HIL (India) limited, a PSU ...

Shri Goyal says that in the post-Covid era, there is going to be perceptible change in the global supply-chains, and India should be looking to capture significant share in the world trade.

Minister of Commerce and Industry & Railways Shri Piyush Goyal today, through Video Conferencing, held ...

Road Ministry launched dashboard containing list of Dhabas and Truck Repair Shops on its website

The Ministry of Road Transport and Highways (MoRTH) has created a dashboard link on its ...

Shri Nitin Gadkari Assures All Possible Support to Representatives of Footwear Industry

Union Minister for MSME and RT&H, Shri Nitin Gadkari has assured the Footwear Industry all ...

NALCO gets Mining Lease for Utkal-D Coal Block

 National Aluminium Company Limited (NALCO), the Navratna CPSE, and one of leading producer of alumina ...

Department of Commerce has Provided a number of Relaxations / Extensions of various Compliance Deadlines etc. to address Corona Pandemic Related Hardships of Exporters

In order to give relief to businesses and affected individuals amidst the stress caused by ...

CCI approves Joint Venture between Adani Green Energy Limited and Total S.A. in power generation through solar energy in India

The Competition Commission of India (CCI) approves formation of Joint Venture between Adani Green Energy ...

WP2Social Auto Publish Powered By : XYZScripts.com