Over 550 startups mentored for incubation and funding support: MoS for Commerce and Industry
In July 2018, Atal Innovation Mission has launched the Incubation Centre Monitoring and Evaluation Platform where data related to incubation performance is submitted by incubators every month, according to the information given to the Lower House. The performance analysis will be conducted once there is sizable data from monthly reports.
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Start-ups looking to go for IPOs to unlock future growth capital, funding avenues 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, said Minister of State of Commerce and Industry CR Chaudhary in the Lok Sabha today.
According to him, 80 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.
In July 2018, Atal Innovation Mission has launched the Incubation Centre Monitoring and Evaluation Platform where data related to incubation performance is submitted by incubators every month, according to the information given to the Lower House. 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.
According to the information, 31 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, and their performance is evaluated during periodic review by the National Expert Advisory Committee on Innovation, Incubation and Technology Entrepreneurship.
As many as 2,441 schools have been selected for establishing tinkering labs under Atal Innovation Mission and Rs 12 Lakh each has been disbursed to 1657 tinkering labs, the minister informed the Housxe, adding that 15 Startup Centres have been approved for building Innovation Centres at National Institutes jointly 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. Of these, 11,129 Startups have been recognised till 15th July 2018 and over 2,15,000 registrations achieved under learning & development module, Chaudhary added.
Further, he stated that 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.
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Besides, the Ministry of Micro, Small and Medium Enterprise has relaxed public procurement norms for startups and provision has also been made for faster exit of startups in Resolution Process under Insolvency and Bankruptcy Code, he added.
