Question : Start-up India Programme

(a) the extent to which the Government has achieved the aims and objectives of the Start-up India Programme being implemented in the country;

(b) whether the Government proposes to introduce certain schemes including Credit Guarantee Fund to enable Start-ups to get collateral free loans for their operations in the country;

(c) if so, the details thereof including the terms and conditions of the schemes; and

(d) the details of other financial support and incentives being extented to the Start-ups in the country?

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THE MINISTER OF STATE (INDEPENDENT CHARGE)
OF THE MINISTRY OF COMMERCE & INDUSTRY
(SHRIMATI NIRMALA SITHARAMAN)

(a): In order to incentivize and support entrepreneurs, Government of India launched the Startup India programme on 16 January, 2016. The Government through this initiative aims to empower Startups to grow through innovation and design. Details of the present status of the progress made under ‘Startup India’ programme are annexed as Annexure I.

(b) & (c): Yes, Madam. The Credit Guarantee Scheme for Startups (CGSS) with a corpus contribution of INR 2000 crores is proposed keeping in mind the challenges faced by Startups in accessing funds. The proposed scheme will provide credit guarantee upto Rs. 500 lakhs per case inclusive of term loan, working capital or any other instrument of assistance extended by Member Lending Institutions (MLIs) to finance an eligible borrower i.e. a Startup recognized by Department of Industrial Policy and Promotion (DIPP).

(d): Details have been provided under “Funding support and incentives” at Annexure I.
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