DPIIT to organise Startup India Innovation Week from 10 January

The virtual innovation celebration aims to commemorate the 75th year of India’s independence and is designed to showcase the spread and depth of entrepreneurship across India, the Ministry of Commerce & Industry said in a release.

Startup India Innovation Week will have sessions ranging from topics such as enhancing market access opportunities, discussions with industry leaders, best practices by states, capacity building of enablers, reverse pitching by incubators, technology exhibitions, corporate connects and more.

The programme is expected to bring together top policy makers, industry, academia, investors, startups, and all ecosystem enablers from across the globe, the statement said.

The department has in the recent years taken up several programmes under the Startup India initiative since 2016. It is Centre’s flagship initiative to promote a robust startup ecosystem in India

The benefits provided to startups recognised under the initiative include self-certify and compliance under three environmental and six labour laws, income tax exemption for a period of three consecutive years and exemption on capital and investments above fair market value.

It also allows easy winding of a company in 90 days under the Insolvency & Bankruptcy Code. Among other benefits, the initiative also allows fast-track patent application with up to 80% rebate in filling patents and exemption from requirement of earnest money deposit, prior turnover and experience requirements in government tenders.