Startup Yojana has opened the doors for entrepreneurs in India as it promotes new plans for the development of country. Indian Government has realized that there are various people in our country which have new ideas and ability to make a new innovation and therefore through this scheme they plan to help in the implementation of their ideas and starting up their own business. Startup Yojana comes under Department of Industrial Policy and Promotion of India. PM of India,Mr. Narendra Modi, had launched this scheme on 16 January 2016 at capital city New Delhi in VigyanBhawan.
The scheme makes use of internet technology to complete all the applications and procedures.. Firstly, the applicants have to fill the e-application form in the web portal or in mobile app and there will be 80% reduction in patent registration fee and for first 3 years there will be no inspection and relaxation in Income Tax. Self-certification compliance is also one key point in this scheme. For generating awareness about this scheme – innovation courses and programs have been launched under Atal Innovation Mission. The HRD and Department of Science and Technology of India also plays a supporting role in this scheme.