(a) the number of jobs created by Startups in various States of the country particularly Haryana, Maharashtra, West Bengal and North-Eastern States including Assam from 2004 to 2014 including their year-wise contribution to gross domestic product; and
(b) the steps taken by the Government to provide incentive package for the States including Haryana and North-Eastern States especially Assam as well as boost private investment in the Startups?
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THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY
(SHRI SOM PARKASH)
(a): Startup India is a flagship initiative of Government of India which aims at building a strong ecosystem for nurturing innovation and Startups in the country. This initiative was launched on 16th January 2016. The startups are recognized as per eligibility conditions prescribed under G.S.R. notification 127 (E) dated 19th February, 2019. No information on number of jobs created by startups from 2004 to 2014 is maintained by the Department.
(b): Government of India as part of Startup India initiative has implemented Fund of Funds for Startups Scheme and Startup India Seed Fund Scheme across all States/UTs to provide financial assistance and boost private investment in the Startups through Alternative Investment Funds (AIFs) and incubators. A corpus of Rs. 10,000 crore has been sanctioned, spread over 14th and 15th Finance Commission cycles. Small Industries Development Bank of India (SIDBI) is the nodal bank under this Scheme. The FFS Scheme does not directly provide financial assistance to startups, instead supports SEBI- registered Alternative Investment Funds (AIFs), who in turn invest money in growing Indian startups through equity and equity-linked instruments.
Under the Startup India Seed Fund Scheme (SISFS), Rs. 945 crore has been sanctioned for period of 4 years starting from 2021-22. The funds are released to Startups through approved Incubators.
In addition to the above, the Startups can also avail other benefits under the Startup India Initiative as per Annexure-I.
Further, Startups in North-Eastern States, including Assam, can also avail benefits of the North East Industrial Development Scheme (NEIDS), notified on 12.04.2018 for a period of 5 years, up to 2022.
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