PM Narendra Modi announced the Startup Action Plan.
Compliance regime based on self certification
To reduce regulatory burden, startups shall be allowed to self-certify compliance with labour and environment laws. In case of labour laws, no inspection will be conducted for three years. In case of environment laws, startups under ‘white’ category would be able to self certify compliance.
Startup India hub
Will be single-point of contact and hand-holding.
Simplifying the startup process
A startup will be to able to set up by just filling up a short form through a mobile app and online portal that will be launched in April.
Patent protection
PM Modi said patent protection and IP rights are a major concern for Indian startups. The government will make IPR procedure transparent for stratups. Fast track mechanisms of startup patent applications – in order to allow startups to realise the value of their IPRs at the earliest possible. Patent applications of the startups shall be fast tracked for examination and disposal.
Panel of facilitators to provide legal support and assist in filing of patent application
Facilitators shall provide assistance for startups in filing and disposal of patent applications related to patents, trademarks and design under relevant Acts. Government shall bear the entire fees of the facilitators for any number of patents, trademarks or designs that a startup may file.
80% rebate on filing patent applications by startups
To enable startups to reduce costs in their crucial formative years, startups shall be provided an 80% rebate in filing patents vis-a-vis other companies.
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