Startup India scheme is an important government scheme that was launched on 16th January 2016 with an aim to promote and support the start-ups in India by providing bank finances. It was inaugurated by the former finance minister, Arun Jaitley. Startup India was a campaign that was first addressed by the PM Narendra Modi on 15th August 2015 at Red Fort, New Delhi. This campaign was introduced under the Government of India as an initiative to develop over 75 startup support hubs in the country.
Overview of Startup India
| Name | Startup India |
| Announced on | 15 August 2016 |
| Launched on | 16 August 2015 |
| Launched by | PM Narendra Modi |
| Status | Active |
| Eligibility | Applicant should be 18+ |
| Nodal Ministry | Ministry of Commerce and Industry |
| Department | Department for Promotion of Industry and Internal Trade |
| Official website | https://www.startupindia.gov.in/ |
Objective and Benefits of Startup India
The objective of the Startup India Scheme is to build a strong ecosystem for promoting innovation and startups in the country. Further, such a drive would encourage sustainable economic growth and create large scale employment opportunities. And to reduce the regulatory burden on Startups, thereby allowing them to focus on their core business and keep compliance costs low.
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