Page 652 - ES 2020-21_Volume-1-2 [28-01-21]

Industry and Infrastructure 279

Start-up India

8.23 Startups are the platform for entrepreneurs who have the ability to think out of the box
and innovate to conceive products that can create a niche for themselves in a dynamically
changing world. Startups have the potential to be the engine of growth in the medium to long
run. To facilitate the growth of startups, GoI had announced the “Startup India, Stand-up India”
initiative. The action plan is based on the three pillars “Simplification and Handholding”,
“Funding Support and Incentives”, and “Industry-Academia Partnership and Incubation”. As on
December 23, 2020, GoI has recognized a total of 41061 startups and 4,70,000 jobs have been
reported by more than 39,000 startups. The Government has taken several initiatives to promote
the startups (Box 2).

Box 2: Initiative Taken by GoI to Support Startups in India

1. Startups Intellectual Property Protection (SIPP) scheme enables a start-up to seek assistance
from any empanelled facilitator to file and prosecute their application. The facilitator can claim
payment for the services given to the start up from the Office of the Controller General of Patents,
Designs and Trademarks (O/o CGPDTM) on submission of certificate in prescribed format. As
of June-2020, 510 patent facilitators and 392 trademark facilitators have been empanelled to
provide free-of-charge services to Startups. The figures in the box provide information on filing
of patent applications and grant of patent (Figure 2.1), and filing of tardemark application and its
registration (Figure 2.2), in general and particularly for startups.
Box Figure 2.1: Patent Application filed and granted
General Startups

Filed Granted 2000
60000 Filed
1800
Granted
50000 1600
1400
40000 1200
1000
30000
800
20000 600
400
10000
200
0 0
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21* FY17 FY18 FY19 FY20 FY21*

* For Apr-Nov 2020 * For Apr-Oct 2020

2. The Fund of Funds for Startups (FFS) with a total corpus of Rs. 10,000 crores was established
with contribution spread over the 14 and 15 Finance Commission cycle based on the progress
th
th
of implementation. As of 1 December 2020, SIDBI has committed ` 4326.95 crores to 60 SEBI
st
registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of `.
31,598 crores. ` 1270.46 crores have been drawn from the FFS and ` 4509.16 crores have been
invested into 384 startups.