Posted on 23-03-2021 by Admin
In the past year, a large number of startups have come in sectors like Healthcare sector, Small and Medium Size Business (SMB) and Agritech.
Startups that did online studies, food supplies and waste management did well last year. Last year was great for startups working in Artificial Intelligence and Deep Learning space
On the other hand, startups in sectors with physical contacts such as tourism and tourism suffered a big loss. Most startups changed their business to survive under the moving conditions.
In the last one year growing startups, a large number of startups have come in sectors like online education food supply healthcare sector small and medium size business SMB and Agritech, online studies, food supplies and waste management. In the last one year growing startups online education food supply healthcare sector Agritech small and medium size business
As far as the problem is concerned, the startups in the tour and tourism sector suffered due to the lockdown.
The lockdown saw a large number of startups in the healthcare sector, small and medium size business (SMB) and agritech sectors in the last one year. One of the interesting trends of last year was that a large number of SMBs adopted digitization during lockdown.
According to data available as of 24 February 2021, there are 44,534 startups accredited by the Department for the Promotion of Industry and Internal Trade (DPIIT). Significantly, the government started Startup India on 16 January 2016 to promote entrepreneurship and innovation in the country.
Many types of relief to startups
Accredited startups get a wide range of facilities including tax exemption. As of January 2021, 339 startups were exempted from income tax. There is a concession of 80% in patent filing fees and 50% in trademarking fees. Registered startups with DPIIT do not have to pay 30% angel tax on the investments received through the sale of shares.
The government borrows the facilitators that help startups file patents, trademarks, or designs. On 28 February 2021, more than 900 facilitators were registered with the government. According to the data released by the government, the number of registered startups registered with DPIIT has jumped by 93.4% as on 31 December 2019.
There are 10,000 to 12,000 active startups in the country, who are regularly collecting data with the company registrar. In such a situation, the number of exempted startups has increased from 1,900 to more than 3,600 in a year. In the next one year, the number of exempted startups can increase to 5,000-6,000.
It is necessary to have the approval of the Inter-Cabinet Committee for the establishment.
Must be a private limited company, partnership firm or limited liability firm.