India is now a hotspot for startups, with over 99,000 of them and 107 unicorn companies valued at $30 billion.
The government is boosting this ecosystem with several initiatives to strengthen the market’s global standing.
Atal Innovation Mission
This 2016 scheme fuels innovation and supports startups in various sectors like health, agriculture, education, and transportation. It offers grants of up to Rs 10 crore over five years.
Multiplier Grant Scheme
The Department of Electronics and Information Technology introduced MGS to encourage collaborative research and development.
Projects can receive a maximum of Rs 2 crore for periods under two years.
Dairy Entrepreneurship Development Scheme
In the dairy sector, the DEDS scheme, launched by the Department of Animal Husbandry, Fisheries, and Dairying, aims to create self-employment.
It provides capital support of up to 25% (general category) or 33.33% (SC/ST) of the project cost.
Startup India
This well-known scheme offers tax exemptions for entrepreneurs for over five years. The government has already recognized 114,458 startups.
Eligible startups should be operational for at least seven years. India is making a name for itself as a startup hub, and these schemes play a crucial role in its success.
