The Start-up policy-2017 of Government of Uttarakhand aims to provide a platform for the students emerging from these institutes to nurture them as entrepreneurs.
Uttarakhand is a well known educational hub. In the State on one hand there are Institutes like IIT Roorkee, IIM Kashipur, NIT, GBPUAT etc., on the other hand State Government has established Industrial Estates like Haridwar, Pantnagar, Kotdwar, Kashipur, Selaqui, Dehradun, Sitarganj etc.
Government of India has announced the Start-Up India initiative with the objective of providing conducive environment for Start-Ups in the country. In relation to Start-Up identification, definition and recognition Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Govt. of India has already issued a notification No. 113 dated 17.2.2017. In line with the above after due deliberations Hon’ble Governor of Uttarakhand is pleased to permit publication of Uttarakhand Start-Up Policy- 2017 to attract Start-Up investments and to nurture students passing out of various Technology Institutes of the State into Entrepreneurs.
Definition of Start-Up
a)Any entity willing to get recognised as startup in Uttarakhand shall fulfill all the below mentioned conditions
1-The Startup should be an entity incorporated as a private limited company (as per the Companies Act 2013) or registered as a partnership firm (under the Partnership Act, 1932 or a limited liability partnership (under the Limited Liability Partnership Act, 2008) AND
2-The startup should have been incorporated in Uttarakhand or should operate from Uttarakhand and employs at least 50 percent of its total qualified workforce from Uttarakhand, which shall not include contract employees AND
3-An entity shall be considered as a startup up to 7 years from the date of its incorporation and in case the entity is operating in the engaged in the biotech sector, up to 10 years from the date of its incorporation AND
4-Turnover should be less than INR 25 Crores in any of the previous financial years AND
5-Such an entity should not be an extension of existing family business; or formed by splitting up or reconstruction of a business already in existence AND
6-The Startup should be working towards innovation / improvement of existing products, services and processes and should have the potential to generate employment / create wealth. An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Startup
b)In case, any entity which has been recognised as startup by Department for Promotion of Industry and Internal Trade (DPIIT), the startup shall fulfill the below condition to get recognistion under Startup Uttarakhand
The startup should have been incorporated in Uttarakhand and should operate from Uttarakhand or employs at least 50 percent of its total qualified workforce from Uttarakhand, which shall not include contract employees
Monthly Allowance of Rs. 10,000 for a maximum period of one year will be paid to the General category Start-Ups selected by the Startup Council. In case the Startup is operated by SC/ST/women/physically challenged Startup or belongs to Category-A regions of MSME Policy 2015, the monthly allowance will be increased to Rs 15,000.
Upon approval from Start-up Council, recognized start-ups may be given Marketing assistance of up to Rs. 5.0 lakhs for marketing / publicity of innovative product
Under this policy, If the Startup is being operated by SC/ST/women/physically challenged entrepreneurs in any of the focus sectors or belongs to Category-A district of Uttarakhand MSME Policy 2015, the marketing assistance allowance will be increased to Rs 7.5 lakhs. This assistance will be provided only once to the Start-Ups.
Patent (IP) Reimbursement
Start-Ups will be eligible for reimbursement of up to 100% of actual cost of Patent fees (including filing fees, Attorney Fees, research fees, maintenance fees). Reimbursement of up to Rs 1 lakh for Indian Patent and up to 5 lakh for international patent will be payable. 75% of the reimbursement will be payable at the time of filing of application and 25% reimbursement at the time of
Stamp Duty Reimbursement
All Startups that have been recognised by the Start-up council will be given exemption from stamp duty on lease deed/ space/ purchase of land as per the categories defined in the MSME Policy 2015.
State GST Reimbursement
The SGST to be submitted by the Start-ups recognized by Startup Council after adjustment of applicable ITC upon supply of material by concerned firm/industry for consumption (B2C) within the State will be reimbursed by Uttarakhand State from the budget.
The list of incubators and Common Facility Centres will be made available on the Uttarakhand Startup portal, and will be updated on a real time basis. Startups recognized by Startup Council and operated by Scheduled Caste /Scheduled Tribes / Women/ physically challenged will be provided space at a discount of 25% of notified rates at recognised Incubators.
For Registration please go through this link. https://bit.ly/30QOCwV