06 Jul 2019

Startup NEWS, July 6, 2019

1. Startups in dire need of regulatory clarity 

  • Survey makes a case for an optimal #tax policy. For this, getting the balance right is extremely critical to not drive away the #investors. Sector’s concerns related to angel tax and other issues must be addressed.
  • The #government’s latest #Economic Survey has sought the removal of regulatory ambiguities for #India’s #startup #ecosystem to flourish, and called for an “evolved” tax system that stimulates innovation.

source: ET

2. Budget 2019: 10 key takeaways for startups and MSMEs 

  • From a TV channel for #startups to interest subvention scheme for MSMEs found a mention in the Finance Minister’s speech.
  • After the #Economic Survey 2018-19 pointed towards the need to incentivise young firms to boost #job creation, Finance Minister Niramala Sitharaman, announced various measures that will help bolster the #startup and MSME ecosystem in the #country.

source: ET

3. Wicket just eased up for a $5 trillion chase: Ritesh Agarwa 

  • Increasing access to #capital and skill building, easing tax norms for #startups, encouraging knowledge-sharing and supporting MSMEs will help #India harness its demographic dividend — a young workforce.
  • This budget spells a lot of firsts and presents a strong roadmap for the country to trek towards the vision of a $5 trillion economy by 2024-25.

source: ET

4. Budget 2019: Rs 1 crore for entrepreneurs to Stand Up 

  • The scheme has benefited thousands of #women and SC/ST entrepreneurs. Banks have been asked to provide loans to at least one #woman entrepreneur per branch to set up a greenfield enterprise.
  • The Stand-up #India scheme will be extended up to 2025. Funds worth Rs 10 lakh to Rs 1 crore will be given to entrepreneurs, who can use it to buy items ranging from scavenging machines to robots.

source: ET

5. Qualcomm India extends design challenge to MeitY supported startups

  • Qualcomm #India is opening up its Qualcomm Design in #India Challenge programme for entrepreneurs supported by MeitY #Startup Hub (MSH).
  • The semiconductor major said it has signed a #technical bilateral cooperation pact with the Ministry of Electronics and Information #Technology (MeitY) to support these #startups.

source: ET

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