DIPP defines Startup as an entity, incorporated or registered in India:
· Not prior to seven years, however for Biotechnology Startups not prior to ten years,
· With annual turnover not exceeding INR 25 crore in any preceding financial year, and
· Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation
To promote growth and help Indian economy, many benefits are being given to entrepreneurs establishing startups.
- Simple process
- Reduction in cost
- Easy access to Funds
- Tax holiday for 3 Years
- Easy exit
- R&D facilities
To elaborate more on such benefits KGS Advisors organized a panel discussion on ‘DIPP Recognition & benefits for startup in India’ through its information deconstruction digital portal DIGIkNOW. Our aim is to connect people of opposite spectrum in the field and bridge the knowledge gap thus raising awareness.Some Common Challenges in path to be a Community Leader include:
Lack of Finances, Awareness, Mentorship & Guidance, Required Infrastructure, Motivation and Ambition. Also, inability to take on the upcoming challenges continuously and encouraging constructive dissent.
However, India has a growing generation with emerging leaders in society. They are capable of inspiring and providing support to their younger counterparts with their proficiency and experience.
So as to learn from such individuals KGS advisors invited a diverse group of community leaders to inspire future leaders with their stories of ups and downs which revolved broadly around on the following themes of talking points:
Experience in work till now and what they’ve learnt from it, Personality Traits of a Community Leader, Thought process and tips about efficiency, Crucial factors and strategies in the journey to reach the current stage and Societal recommendations for collective betterment.
To elaborate more on such talking points KGS organized a panel discussion through its knowledge sharing platform DIGIkNOW with aim of creating awareness through a creative and stimulating conversation on ‘Community leaders -Hurdles and Success stories’
ABOUT KGS Advisors
KGS is a financial advisory firm. KGS has a distinctive platform providing advisory services to SMEs / Startups in India as well as foreign companies looking to establish a presence in India. The range of services is tailor-made for the unique requirements within the wide array of Accounting, Auditing, Taxation, Legal, Business advisory, Market research, Human resource management and B2B Handling services etc. We also assist Companies in raising funds (equity as well as debt).
Department of Industrial Policy & Promotion was established in the year 1995, and in the year 2000 Department of Industrial Development was merged with it. It is working with the Ministry of Commerce and Industry, Government of India. This department is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sectorIt is also responsible for facilitating and increasing the FDI flows to the country.
Invest India is transforming the country’s investment climate by simplifying the business environment for investors. Its experts, specializing in different countries, Indian states and sectors, handhold investors through their investment lifecycle – from pre-investment to after-care. Invest India’s specialists provide multiple forms of support such as market entry strategies, deep dive industry analysis, partner search and location assessment policy advocacy with decision makers.