Start-up India:
From modern education to advanced HR management techniques, these new start-ups are killing it with their modern solutions to our urban problems, making them the best start-ups in India to consider for start-up funding.Dreams come alive as soon as you get out of your bed, sip your espresso and start hustling to achieve those goals. These HR management techniques in India mentioned in this publication chose to put in their 110% to transform those lucid entrepreneurial dreams and ideas into reality under the Start-up India movement.
In 2014, India saw a sudden start-up wave shaking the nation with its million-dollar ideas and innovative solutions to modern problems, and it hasn’t stopped ever since. Later in 2016, the government of India launched the Start-up India Scheme as an initiative to promote the new start-ups of the nation by providing start-up funding support, guidance, and industry-academia partnership & incubation opportunities.
What is Start-up India?
Start-up India is essentially an initiative taken by the Indian government that aims at promoting and encouraging the entrepreneurial spirit amongst its citizens.
The overall idea involved in launching the Start-up India initiative was to generate employment amongst the unemployed via start-ups while simultaneously working towards building self-employment for sole proprietors.
Here’s how Start-up India Program has been successful:
- Almost, 15,472 start-ups recognized under Start-up India
- Over 1,48,897 start-up jobs reportedly created by 13,176 recognized startups
- Over 45% of recognized start-ups have a minimum of one or more women directors.
Start-up India Registration
The steps involved in Start-up India registration makes it even more convenient for start-ups to rely on the government’s scheme for its additional benefits.
Here are the steps involved in Start-up India registration:
- Ensure your company is registered as a Private Limited Company, Partnership firm, or a Limited Liability Partnership.
- Register on the Start-up India website.
- Upload documents in PDF- LOR, Certificate of Incorporation & Business Description
- Avail tax benefits
- Self certify that you fulfil the given conditions
- Get recognition number, and that’s it!
Start-up India Loan
The government launched the Pradhan Mantri Mudra Yojana in April 2015 in collaboration with regulated banks and NBFCs that provide Startup India loan to non-corporate, non-farm MSMEs in their initial or growth stage.
The types of loans provided under the Pradhan Mantri Mudra Yojana are:
- Shishu: A loan of up to Rs 50,000 is provided to start-ups in their initial stage.
- Kishore: A loan of Rs 50,000 to Rs 5 lakh is provided to start-ups aiming to expand.
- Tarun: A start-up India loan of Rs 5 lakh to Rs 10 lakh is granted tpstartups in their growth stage.
Start-up Jobs Generated
As mentioned earlier, Over 1,48,897 start-up jobs have been generated since the inception of Start-up India.
Not only have start-up jobs helped in generating employment in a rising state of unemployment in the country, but it has also provided more significant opportunities at a smaller scale.
Personally, in my opinion, start-up jobs guarantee to give you 10x more exposure than a normal job as you are assigned to complete multiple job roles, assuring quicker professional growth.
Kerala Start-up Mission
Kerala’s government also launched the Kerala Start-up Mission as an initiative to promote the budding entrepreneurs of the state at a more compact level.
The mission also serves as a platform to encourage and guide the young college entrepreneurs through mentorships and its incubator centres.
How Start-up India Scheme has Helped Start-ups
Start-up India Scheme has also helped multiple start-ups with its financial and other support.
- The government also provides Income Tax Exemption to start-ups for the first three years of profits made by the company.
- Capital Gains Tax exemption
- Up to 80% rebate on patent costs
- Simplified registration process
Start Up India Scheme: Benefits in 2020
The Start Up India Scheme was also initiated by the Government of India back in January 2016 that aims at promoting different start-ups that, in turn, assists in generating employment, surging the economic state of
The Start Up India Scheme also assists the entrepreneurs of India by providing start up business loan and tax benefits. It serves as pillars of support of motivating young entrepreneurs to proceed on their journey of startup success.
Start Up India Scheme – Eligibility
An individual must qualify the following eligibility criteria to apply for Start Up India Scheme:
- The startup must be registered or incorporated in India for less than 7 years. For biotech startups, less than ten years.
- Annual turnover must be less than Rs25 crores
- The main objective to work towards innovation, development, deployment, or commercialization of new products or services that are driven by technology or intellectual property
- Must also be a new corporation and not a result of splitting up or reconstruction of business
- Should also have the Inter-Ministerial Board certification
- Must be an incorporated as a private limited company, a registered partnership company or a limited liability partnership
Start Up India Scheme- Benefits
The startups fulfilling the eligibility criteria for the Start Up India Scheme can avail the following benefits:
- Financial Benefits
- Income Tax Benefits
- Registration Benefits
- Government Tenders
- Huge Networking Opportunities
1. Financial Benefits
The Start Up India Scheme also provides its applicants and registrars with financial benefits for their organization. The government also offers a refund of 80% for the high patent costs bore by the startups. It also assists in facilitating the patent registration process faster for startups.
2. Income Tax Benefits
Startups can also acquire income tax benefits under the Start Up India Scheme that provides the registered startups an income tax exemption from the government for 3 years.
Moreover, the companies who have invested in specified funds can also avail exemption from capital gains in income Tax.
However, startups can avail of this benefit only if:
Obtained a certificate from the Inter-Ministerial Board
3. Registration Benefits
Start Up India Scheme also serves as the guiding light that helps startups throughout their registration process. The scheme allows you to facilitate your process of registration through its simple & quick application process.
Further registration benefits provided by Start Up India Scheme are:
- Single meetings at Startup India Hub also elaborates upon critical steps of incorporating and registering your business.
- It provides a single doubt and problem-solving window for its participants.
4. Government Tenders
Acquiring government tender usually requires a lot of effort, making it a tedious task to gain access to them. Especially being a fresher. Corporates and businesses also often have their eyes laid on government tenders. Because of its attributes like high payments & large projects.
Start Up India Scheme allows startups to gain priority on acquiring government tenders, despite having little or zero experience.
5. Huge Networking Opportunities
Two startup fests are also organized by Startup India annually to help promote the entrepreneurial spirit amongst the registered startups, helping them gain a broader exposure to the market.
It also provides access to many Intellectual Property awareness workshops. Startups gain opportunities to network with potential startup stakeholders and other great businesses in the startup community.
Overall, the Start Up India scheme has not only been able to uplift the registered startups but has also provided a supportive foundation for several other individuals looking to take their first steps for starting their buisness.
Startups in India
Startups in India have been also continuously proving their place in the market through the adoption of the latest advanced technology and hard work in the nation, which has marked its position as one of the largest startup hubs in the world.
The startups mentioned below have also done no less. They have juiced out all the necessary requirements. Of the society and have put forth a beautifully convenient product/service for their consumers. Startups in India truly deserve recognition from individuals worldwide for the hard work and efforts put forth in our society.
A total of 1,300 tech startups were also added in the year 2019. Taking the count from total tech startups in India to 9,300.
Start-ups in Bangalore
Popularly known as the Silicon Valley of India. Bangalore has been home to the maximum number of start-ups in India undeniably. Various non-tech startups took inspiration from the top tech start-ups in Bangalore, which has helped in boosting the city’s start-up culture.
Some of the start-ups mentioned below are prestigious additions. To the already ripening start-ups in Bangalore ecosystem. Various start-ups are a part of the major industries of Bangalore like Biotechnology. IT services, Garments & textiles, etc.
Bangalore has been ranked with the third-highest. Number of tech startups among the global cities of Silicon Valley and London.
Indian Start-ups Killing it in India
Many start-up ideas that were initially shunned upon have revolutionized. The way that we digest the working of start-ups. With their strict work ethic. These Indian startups have procured the position of the top Indian start-ups killing it in the Indian economy. The firms and organizations listed below have put in efforts. To offer A1 experience to their clients with their quality services. So if you’re wondering and wandering around the world wide web in search of the best innovative Indian start-ups in 2020, look no further.
India was ranked as the third-largest start-up unicorn. According to the Hurun Global Unicorn List 2019.
Types of Start-up Funding
There are five ways in which a new start-up can gather start-up. Funding for the functioning of its company. You can provide start-up funding via:
- Series funding
- Crowdfunding
- Loans
- Venture Capital also
- Angel Investors
Start-up Principles to Remember:
- Focus on growth to thrive the progress
- Provide solutions to an existing problem
- Strive to fill the market gap
- Challenge the traditional methods also
- All individuals must work towards a common goal
8 Start-up Opportunities in India:
Social Media Management Services
In the current scenario, social media has redefined how business functions. Companies are frantically looking for reliable social media handles. To manage their advertising through digital marketing. A good social media service provider is one who targets. Potential digital users and audience through clever storytelling and promotional techniques. The market is flooded with Social Media apps and the numbers are only expected to increase.
To become a successful Social Media provider. Along with a unique idea to bring more business. You need an ability to pick up the trends also and roll with it quickly. The startup cost involves also minimal cost depending on your scalability. While you can hire a few people to create. And curate content to manage social media accounts. This idea requires the least resources. However, one needs to be on their toes to learn new hacks and techniques as there’s always. Something new coming on Facebook or Instagram marketing. The info graph on social media clearly makes it one of the best startup ideas with low investment in India.
Blogging
Blogging is also a minimum startup business that can be extremely profitable. Over the last few decades, companies are in a hunt for bloggers who help them to create a web-based platform for their business and reach to a global audience. Through the means of online posts and contents. In this era of digital age. Blogging has evolved to become the backbone. For successful businesses and bloggers also are looked upon as online influencers.
Blogging is a great startup idea that earns you income as well as respect. If you have the keenness to write. A quest for reading and a dedication to never give up, you have the perfect ingredients to become a good blogger. There are countless free blogging guides available online, to help beginners create impactful blogs. With an initial cost of investing in a hosting space and domain name. You are geared up to make your mark.
Travel Agency
Travel Industry in India is at its peak. While the desire for ‘wanderlust’ is umpteen. There are also never enough resources for meticulous packing. So if you have a fervour for traveling, this profession can make you a millionaire. As a good travel agent, you must be able to plan a great itinerary for clients that offer superb arrangements for them on holidays in the most pocket-friendly way.
DIY Home Decor & Crafts
Ever paid attention to the Socially Useful Productive Work. (SUPW) sessions at school? Well, if you did and are creative enough to turn junk into marvellous art pieces. Then this won’t cost you more than few pennies. And to the world around, they sell like hot cakes for home decor purposes. And landscaping. Such quirky pieces made of unconventional ideas. Amuse people from all walks of life. If you have a tint of creativity. And a gang of like-minded workforce. You can come up with such projects. On an experimental basis initially. For which you won’t require much money to be put in. And if your ideas appease. Some of the people also around then you can go. About monetizing the venture at large.
Food Trucks
The concept of healthy food also on wheels is working well in the urban cities of India. Food trucks are the new-age ‘thellas’ also that serves hot. Delicious and healthy food. These mobile eating joints present you with delectable cuisines. From around the world at a fairly reasonable price. The USP of food trucks is their mobility. You can conveniently park them outside the school during the afternoon. And later travel to office areas. During the late evening. Opening your food trucks is an ideal business startup. If you have the budget of 10k. With no real-estate investments required. You only need a functional truck. Basic equipment and few staffs. To get your business kick-started.
Tuition and Coaching Centres
This is another lucrative business option for those with capital constraints. Tuitions classes or coaching centres can begin right from your home. Eliminating the need for any rented space. The classes can be taken individually. Or in larger groups. With a strong knowledge in the field, you excel will help also to spread your popularity by word-of-mouth. Slowly, as the business grows you can hire professionals. In other field and start working from a rented place.
Event Management
The ‘big fat Indian weddings’ also have made event management. One of the most profitable startups with low investment. Planning an event, either on a professional or personal scale. Requires looking after minute details to make it super successful. People involved in these mostly do not have the time for execution and hire event managers. To take charge of the situation. Panache for creativity also and the right networking can take you places. In the event management business without making a big investment.
Online Fitness Instructors
In the 21st century. Being fit is highly crucial. While most of us desire to stay healthy. There is never enough time to visit a gymnasium or attend fitness classes. Wouldn’t it be convenient to have someone visit your home. To also help you get in shape or get fitness classes online, any time of the day? That’s exactly what an online fitness instructor does for clients.
