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Business EconomyPosted at: Jan 13 2019 10:09AM


Govt mulling forming Credit Guarantee Fund for encouraging start-ups

New Delhi, Jan 13 (UNI) The Government is planning to set up a Credit Guarantee Fund (CGF) for encouraging start-up companies with a view to providing funding facilities in the country.
The scheme has yet to be made operational, official sources said in the Commerce and Industry.

Incentives being provided to Startups under Startup India initiative are Self-Certification under 6 Labour Laws & 3 Environmental Laws, Relaxations in Public Procurement Norms, Faster exit under the Bankruptcy Code and Rebates on Patent & Trademark filing fees, support from facilitators and expedited examination of Patent application.
Other incentive include Income Tax exemption, Exemption from Income Tax on investments received above fair market value, Funding support under the Fund of Funds for Startups and Guidance and facilitation support from Startup India Hub.

Department of Industrial Policy and Promotion hosted Startup India Global Venture Capital Summit 2018 on December 7, 2018 in Goa.

It was a gathering of global fund managers, limited partners, officials from the Government of India and innovative startups. The dialogue focused on the huge return-generating potential of India’s vast and diverse market monetised through cutting-edge technologies supported by investor-friendly regulations, the sources said.
The objectives of the Summit included showcasing the opportunities in India by discussing and highlighting sectors that provide a wide array of investible opportunities, Increasing capital flow for Indian startups by showcasing high quality tech & non tech Indian startups to the global investor community and Fostering ease of doing business by Identifying and discussing issues raised by investor community.
The event was attended by 30 Startups -- 27 Indian Startups and 3 from the US, the sources added

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