Start-ups in India embody the spirit of innovation, entrepreneurship, and the relentless pursuit of growth opportunities by creating novel products or services in response to identified market gaps or needs. Start-ups in India are not just reshaping the economic landscape but are also instrumental in addressing societal challenges through technological and sustainable solutions, making India one of the fastest-growing start-up hubs in the world.

Government support for Start-ups in India:

1. Start-up India Initiative

Launched in January 2016, the Start-up India initiative aims to build a strong eco-system for nurturing innovation and start-ups in the country.

It provides various tax benefits, simplifies the start-up registration process, and offers easier patent filing. Moreover, it aims to reduce regulatory burdens and provide financial support.

2. Atal Innovation Mission (AIM)

AIM includes the establishment of Atal Tinkering Labs (ATLs) in schools and Atal Incubation Centres (AICs) to promote a culture of innovation and entrepreneurship. These platforms are designed to encourage creative problem solving among students and provide start-ups with resources and mentorship.

3. Make in India

This initiative, while broader in its scope, supports start-ups by encouraging manufacturing and innovation. It aims to make India a global manufacturing hub, which in turn creates opportunities for start-up companies in manufacturing and related sectors.

4. Digital India

Digital India promotes digital literacy, infrastructure, and services. It indirectly supports start-ups by creating a digitally empowered ecosystem where they can thrive, especially those in fintech, edtech, health tech, and more.

5. MUDRA Yojana (Micro Units Development & Refinance Agency)

Under the Pradhan Mantri MUDRA Yojana, loans are provided to small businesses and start-ups without collateral. This initiative aims to support micro, small, and medium enterprises (MSMEs) at their nascent stage.

6. Income Tax Exemptions

Eligible start-ups can apply for income tax exemptions under section 80-IAC of the Income Tax Act for any three consecutive years out of their first ten years since incorporation.