ASSAM GOVERNMENT STARTUP LOAN : The Government of Assam has launched the “Startup Assam” initiative to promote sustainable economic growth and generate large scale employment opportunities in the state of Assam. The state government of Assam established several incubation centers under the Assam Startup Policy 2017 to support the growth of a minimum of 1,000 new startups in the coming years.

Objective of the Scheme

The objective of the startup India are as follows :-

Provide the funding required to enable startups in Assam.

Develop a mechanism of problem-solving and the culture of entrepreneurship in the state.

Enable the citizens of the state to associate with the startups to have a higher quality of life.

Establish a state-owned business incubator.

Facilitate the growth of at least 1,000 new startups over the next 5 years.

Eligibility criteria for Startup Assam

To apply for the Assam Government Startup Loan, the company must take the form of a limited liability partnership, private limited company, or partnership firm.

It should be a new firm or existing firm not older than 7 years and the annual turnover of the company not exceeding RS 25 Crores.

The firm must work towards innovative schemes, development, development or commercialization of new products.

The firm should not be an expansion or extension of an existing business.

How to apply for ASSAM GOVERNMENT STARTUP LOAN

Documents required for linking Startup Assam

Certified copy of Incorporation

Proof of innovation to be enclosed as per any of the following:

Certificate of DIPP Startup India recognition with a one-page write up on Innovation.

The patent filed in the entity name and the nature of business being promoted with one page write up on Innovation.

Assurance Letter of the grant provided by the Government of India to the entity to promote innovation with one page write up about innovation.

Letter of grant issued by any Angel Fund/ Private Equity Fund/ Incubation Fund/ Accelerator/ Angel Network duly registered with (SEBI) Securities and Exchange Board of India.

HOW TO APPLY EDUCATION LOAN IN ASSAM GYAN DEEPIKA SCHEME

Benefits of the Citizens

The State Government of assam will provide 50% subsidy for the purchase of computers, related hardware and software.

The Government of Assam will provide subsidy up to 50% subject to a maximum of 5 lakhs of the rental cost for the first three years.

The Assam Government will provide subsidy up to 50% subject to a maximum of 1 lakh for 5 years.

The cost for filing a patent application will be reimbursed to the startup companies with the limit of RS. 1 lakh per Indian patent awarded. For awarded foreign patents, maximum limit up to RS. 5 lakhs for reimbursed.

The one-time incentive of Rs.5000 for hiring women, transgender and differently abled will be given for 3 years.

For each startup that transforms an innovative idea into a revenue-generating product or service, we will allocate funding of Rs. 5,00,000.

The startup companies will receive reimbursement for their marketing and promotion expenses, including travel, up to a limit of Rs. 5 lakh per startup.

Any entrepreneur who establishes Start-ups will be eligible for an allowance of RS 20,000 per month and per Start-Up for one year under the following conditions:

The startups should have a validated prototype or working model.

The entrepreneurs of the Start-Up entity should have an alternate source of income.

It has to be at least one women entrepreneur in the Start-Up entity.

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