(a) The achievements made under “Startup India” programme being implemented in the country;
(b) whether Government proposes to introduce certain schemes including Credit Guarantee Fund to enable Startups 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 extended to the Startups in the country?
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THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY
(SHRI C.R. CHAUDHARY)
(a) to (d): Details of the achievements made under ‘Startup India’ initiative are at Annexure-I. Under the Startup India initiative, a Fund of Funds for Startups (FFS) with a corpus fund of INR 10,000 crore has been established for development and growth of innovation driven enterprises. Till date, a total amount of INR 600 crore has been released to SIDBI for the FFS. INR 605.7 crore has been committed by SIDBI and INR 90.62 crore has been disbursed to 17 Alternative Investment funds (AIFs), who in turn have invested INR 337.02 crore in 75 Startups. Further, as on 1st December, 2017, a total of 5350 Startups have been recognized by Department of Industrial Policy and Promotion (DIPP). A total of 74 Startups have been given tax exemption under Section 80 IAC of Income Tax Act. The Startup India Hub has resolved 75,643 queries so far and there are 15000 registered users on the Startup India Hub. The Learning and Development module of the Startup India program has been used by 1,89,000 individuals so far. As regards the Credit Guarantee Fund, no decision has been taken by the Government of India in this regard.
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