Why's It Such A Big Deal⁉

  |   Tech News

There’s a lot of hype😱 about the Start Up India event, so we thought we’d clear it up a bit so you know what it covers.
▫The Stand Up 🇮🇳 Scheme, which is anchored by Department of Financial Services (DFS), encourages👍 greenfield enterprises by SC/ ST and women🙋🏻 entrepreneurs & will support 2.5 lakh borrowers with bank🏦 loans between ₹10 lakh to ₹1 crore💰 repayable up to 7⃣ years.
▫Existing tax norms take away nearly 30% 😮of the value of investments but the govt. has decided to scrap❌ the tax on seed funding💰 to startups by Indian angel👼🏼 investors to improve cash flow.
▫Nasscom defines💬 a start-up as an entity headquartered in 🇮🇳, incorporated less than 5⃣ years ago, with an annual turnover of ₹25 cr💰. The definition may set the boundaries on which the govt. will act.
▫G👀gle will host a live contest with 5⃣ pre-screened startups who will present their business cases. One final winner will win 💲💯K in Google cloud☁ credits, and be eligible for consideration to the Launchpad🚀 Accelerator Program in July.

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