Start-ups are key economic growth engines of the economy. Innovative businesses are the bedrock of any country's success which embraces new ideas and new enterprises. Start-ups are a crucial feature of this ecosystem. The start-ups have been the cynosure within the Indian business environment over the last few years. Innovation is the essence of every Start-up. Young minds kindle new ideas every day to think beyond conventional strategies of the existing corporate world. India brings Start-up India Policy which is a flagship initiative of the Government of India (launched January 2016), intended to build a strong eco-system for nurturing innovation and Start-ups in the country which will drive sustainable economic growth and generate large scale employment opportunities in the country. The Government through this initiative aims to empower Start-ups to grow through innovation and design.
To reduce the regulatory burden on Start-ups, thereby allowing them to focus on their core business and keep compliance costs low. Under the Start-up India Action Plan, start-ups that meet the definition as prescribed under G.S.R. notification 127 (E) are eligible to apply for recognition under the program. The Start-ups have to provide support documents, at the time of application. Eligibility Criteria for Start-up Recognition: a. The Start-up should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership. b. Turnover should be less than INR 100 Crores in any of the previous financial years. c. An entity shall be considered as a start-up up to 10 years from the date of its incorporation. d. The Start-up 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 "Start-up". Benefits • Start-ups shall be allowed to be self-certify compliance for 6 Labour Laws and 3 Environmental Laws through a simple online procedure. • In the case of labour laws, no inspections will be conducted for a period of 5 years. Start-ups may be inspected only on receipt of credible and verifiable complaint of violation, filed in writing and approved by at least one level senior to the inspecting officer. • In the case of environment laws, start-ups which fall under the ‘white category’ (as defined by the Central Pollution Control Board (CPCB)) would be able to self-certify compliance and only random checks would be carried out in such cases.
For a new idea to become a successful commercial venture, adequate support and mentoring at various stages of the business lifecycle is required. Professionals play an important role in identifying early stage Start-ups and supporting them across various phases of their lifecycle. In order to build an effective Start-up ecosystem, it is imperative that a right information at a right time to the entrepreneur makes the difference. A pivotal component for growth of Start-ups is regular communication and collaboration within the Start-up community, both national as well international. An effective Start-up ecosystem can’t be created by the Start-ups alone. It is dependent on active participation of academia, investors, industry and other stakeholders. NLN & ASSOCIATES is the most powerful community of professionals and entrepreneurs, supporting today's business owners in all aspects of their entrepreneurial journey also to create and support high growth entrepreneurs. NLN & ASSOCIATES network of supporters, including entrepreneurs and small business owners, state and local business organizations, corporate partners and associations work with us to strengthen the Start-up environment for robust entrepreneurship, investment, innovation and business growth.
Funding is the lifeblood for the businesses, the flow of funds to the start-ups at the right time turns those into best businesses. Don’t let money stop you from pursuing your dreams. Funding for start-ups is available in all sorts of forms, and an entrepreneur would be wise to consider and evaluate all forms of capital available for each stage of the business. As the company grows and evolves, different forms of capital will make more sense and be available for that stage. Start-up funding is a critical component to the business venture and is a big issue to tackle. Even experienced entrepreneurs haven’t dealt with all the different types of capital in their careers. The key is understanding the different options available, and then very deliberately evaluating the options available. The team of experts are ready to assist in this regard at NLN & ASSOCIATES.
We strive to support the start-ups because start ups are so special for us. These vibrant start ups are looking for the investment for their ongoing ventures.