Top Government Schemes for Startups in India:- Our government releases various programs & schemes for the development of the country. The startup scheme launched by the government helps our economy to boost & bring good support to businesses. These schemes will help new entrepreneurs to grow & establish themselves in the market. Proper support from the government will be given to the entrepreneurs in the form of startup schemes. Around 107 unicorns & over 99,000 startups have made our country the ‘Startup Hub’ of the world. Our Prime Minister Mr. Narendra Modi is offering full support to the startups in the country.
Today in this article we will discuss about Top 10 Government Startup Schemes in India. These Top Government Schemes for Startups in India are giving financial & technical support to startups. Proper support from the government of the country is necessary as it helps businesses to get international reputation & recognition which eventually helps to get foreign investors to invest in the business.
Standup India Loan Scheme
List of Top 10 Government Startup Schemes in India
- Aatmanirbhar Bharat App Innovation Challenge
- Atal Innovation Mission (AIM)
- Credit Guarantee Fund Trust for Micro & Small Enterprises
- Dairy Processing and Infrastructure Development Fund (DIDF)
- eBiz Portal
- Micro Units Development Refinance Agency (MUDRA) banks
- Multiplier Grants Scheme (MGS)
- Software Technology Park (STP)
- Startup India Seed Fund Scheme
- Startup India Initiative
Top Government Schemes for Startups in India
Aatmanirbhar Bharat App Innovation Challenge
The Aatmanirbhar Bharat App Innovation Challenge was launched on 4th July 2020. This scheme urged Indian companies to work together & develop solutions that are manufactured in India. This will benefit the people of India as well as globally. This challenge has run on 2 tracks – one is for the promotion of existing apps & other is development of new apps. The innovators are invited to develop apps in eight categories.
This scheme will also encourage IT companies & startups to create innovative mobile apps in exchange for a sizable financial reward. The Aatmanirbhar challenge has helped to boost the creation of new apps that can help with the demands in India.
Atal Innovation Mission (AIM)
The Atal Innovation Mission (AIM)was launched in 2016. This mission was launched by NITI Aayog. The purpose of this mission is to create & promote a culture of innovation and entrepreneurship across the length and breadth of the country. The innovation will be promoted by developing new policies and initiatives for the growth of economic sectors. This government startup helps to collaborate various entrepreneurs under one roof.
This program aims at developing new policies in different sectors of the economy. It will help to create an umbrella structure to oversee the innovation. AIM offers the selected companies Rs.10 crores in capital over a 5-year period.
Credit Guarantee Fund Trust for Micro & Small Enterprises
The Credit Guarantee Fund Trust for Micro & Small Enterprises(CGTMSE) offers MSME companies to apply for zero collateral business loans. The aim of this scheme is to offer companies a loan at a low-interest rate & without any collateral.
The CGTMSE is jointly set up by the Ministry of Micro, Small & medium Enterprises (MSME). The CGTMSE has offered 1 lakh crore in the financial year 2023-24.
My Scheme Portal
Dairy Processing and Infrastructure Development Fund (DIDF)
The Dairy Processing and Infrastructure Development Fund (DIDF)was launched in 2017. This program was launched with the objective of modernizing the milk processing plants & machinery. This program also intends to make additional infrastructure to process more & more milk.
The DIDF program is open to companies that produce milk in the country. The total expenditure for this program is Rs.11,184 crores.
eBiz Portal
The eBiz is India’s first government–to–business portal. Businesses that are already operating in India or planning to start operations can use this portal to obtain licenses, approvals, clearances, no objection certificates, etc. This portal will also help to modernize the country by working as a hub for all Indian businesses.
MUDRA (Micro Units Development Refinance Agency) Banks
The Micro Units Development Refinance Agency (MUDRA) bank is a public sector financial institution in India. It facilitates credit availability & fosters the expansion of small businesses. This bank provides loans at very low rates to microfinance institutions. Up to Rs.10 lakh in loans were made available by the MUDRA banks to small enterprises. The MUDRA Bank was launched on April 8th, 2015.
Multiplier Grants Scheme (MGS)
The Multiplier Grants Scheme (MGS) was launched by Department of Electronics and Information Technology. This scheme will help to promote research and development collaborations between academic institutions and the tech sector. The government will be in charge of helping the academic/R&D institutions. The financial support will be provided twice the amount provided by the industry.
Software Technology Park (STP)
The Software Technology Park (STP) was set up in 1991 as an autonomous society. The STP was under the Ministry of Electronics and Information Technology. The main objective of this is to promote software exports from the country.
Startup India Seed Fund Scheme
The Startup India Seed Fund Scheme was launched in January 2021. The aim of this scheme is to provide assistance to businesses. Seed funding is necessary for every startup as it will their business to build up. A Rs.945 crore overall funding will finance 3600 enterprises & and 300 incubators.
Startup India Initiative
The Startup India Initiative is a flagship initiative by the government of India. Startup India was launched on January 16th, 2016. This scheme is intended to catalyze startup culture & build a strong and inclusive ecosystem for innovation & entrepreneurship in India.
