Start-ups Action Plan: Highlights

Following are major policy highlights of Start-ups Action Plan Prime Minister Narendra Modi unveiled on Saturday in New Delhi while launching the ambitious 'Start-up India' campaign to boost digital entrepreneurship at the grass-root level:

* Income Tax exemption for first three years

* Tax exemption on capital gains

* No inspection of start-ups for three years on labour and environment law compliance post-self certification.

* Compliance regime based on self-certification 

* Single point of contact for Start-up India hub as friend, mentor and guide 

* Corpus of Rs.10,000 crore through Fund of Funds, Initial corpus: Rs.2,500 crore 

* Faster exit through a new insolvency and bankruptcy laws to wind up a start-up in three months (90 days) 

* Mobile app will be launched on April 1 to register start-ups in a day 

* Portal for clearances, approvals and registrations 

* Atal Innovation Mission for impetus to innovation and encourage talent, sector-specific incubators, 500 tinkering labs, pre-incubation training and seed fund for high-growth 

* Norms to be relaxed for public procurements. No requirement of turnover or experience, but no relaxation of quality 

* Faster patent registration and protection for IPRs 

* Fast-track mechanism for start-up patent applications 

* Panel of legal facilitators for start-ups to file IPRs on patents, designs, trade marks 

* 80 percent rebate on filing of patent applications 

* Public-private partnership (PPP) model for 35 new incubators, 31 innovation centres at national institutes, seven research parks and five bio-clusters 

* Innovation core programmes for 10 lakh students in five lakh schools across the country. 

* National and international start-up festivals to provide visibility 

* Annual incubator grand challenge to create world class incubators 

* Credit guarantee fund for start-ups.