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THE MINISTER OF COMMERCE & INDUSTRY
(SHRI PIYUSH GOYAL)
(a) to (c): Startup India initiative was announced by the Prime Minister of India on 15th August, 2015. The flagship initiative has an objective to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. Further to this, an Action Plan for Startup India was unveiled by the Prime Minister of India on 16th January 2016. The action plan comprises of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and incubation”. Since its inception, 29,017, Startups across the country have been recognised by Department for Promotion of Industry and Internal Trade (DPIIT) as on 26.02.2020.
Since the launch of initiative in January 2016, there has been a substantial progress under Startup India Action Plan. A detailed progress made on 19 Action Points of Startup India Action Plan is enclosed at Annexure-I.
Many other initiatives beyond the Startup India Action Plan have been undertaken for development of overall growth of Startup movement in the country. Summary of achievements made so far under such initiatives is attached at Annexure - II.
There is no provision for bank financing under Startup India initiative. However, Government of India has established a Fund of Funds for Startups (FFS) with corpus of Rs. 10,000 crores, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. The total corpus of Rs. 10,000 crores is envisaged to be provided over the 14th and 15th Finance Commission cycles based on progress of the scheme and availability of funds. As on 18th February 2020, SIDBI has committed Rs 3123.20 crore to 47 SEBI registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of Rs. 25,728 crore. Further, the AIFs have invested a total of Rs. 3,378.47 crore into 320 startups out of which Rs. 912.91 crore have been drawn from Fund of Funds for Startups. Fund of Funds does not directly invest into startups but provides capital to SEBI-registered Alternate Investment Funds (AIFs), known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments. Thus, there is no direct fund allocation from DPIIT to States/UTs under Startup India initiative.
(d) & (e): Kerala has launched its Startup policy in 2014 and has undertaken major reforms in development of Startup ecosystem. Government of Kerala has set-up physical infrastructure for creative enterprises and collaborated with renowned incubators and accelerators. Kerala Government has supported incubation area of more than 35,000 sq. ft. The support is provided through different models such as lease agreements for setting up plug and play infrastructure, providing grants for operational and maintenance expenditure. Kerala has been acknowledged as one of the top performers in the State Startup Rankings 2018 conducted by DPIIT.
Kerala Startup Mission (KSUM) is the nodal agency of the Government of Kerala for entrepreneurship development and related activities in Kerala. KSUM was primarily founded to undertake the planning, establishment, and management of the Technology Business Incubator (TBI) in Kerala to promote technology-based entrepreneurship activities and to create the infrastructure and environment required to support high-technology-based businesses.
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