STARTUP LOAN IN ASSAM: Apply Now
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 established various incubation centers under the Assam Startup Policy 2017 to foster the growth of at least 1,000 new startups in the coming years.
Objective of the Scheme:
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The objective of the startup India are as follows :-
- To provide the funding required to enable startups in Assam.
- To develop a mechanism of problem-solving and the culture of entrepreneurship in the state.
- To enable the citizens of the state to associate with the startups to have a higher quality of life.
- To establish a state-owned business incubator.
- To facilitate the growth of at least 1,000 new startups over the next 5 years.
Eligibility criteria for Startup Assam:
- The formed company must be 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.
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How to apply for Startup Assam:
Online :
To register for Startup Assam, visit the official website of Assam startup. The eligible entities can register for a startup using the startup registration link. The officer from the Department of Commerce and Industries (Nodal Department) will review the application post-registration. Once all submitted documents are verified, the state startup certificate will be issued within 10 days of applying.
Documents required for linking Startup Assam:
- Certified copy of Incorporation
- Proof of innovation has 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.
Benefits of the Citizens:
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- The State Government will provide 50% subsidy for the purchase of computers, related hardware and software.
- The State Government will provide subsidy up to 50% subject to a maximum of 5 lakhs of the rental cost for the first three years. The State 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 can be reimbursed.
- Employers will provide a one-time incentive of Rs. 5000 for hiring women, transgender, and differently abled individuals, spanning 3 years.
- Startups that generate revenue through innovative ideas developed into new products or services will receive funding of Rs. 5,00,000 per startup.
- Startup companies will be reimbursed for marketing and promotion costs, including travel, with 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 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.
MORE INFORMATION YOU CAN VISIT THIS OFFICIAL WEBSITE
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