Startup India Policy for Andhra Pradesh

In order to develop AP as an innovative society whole over the country as well as the globe, the Startup India Policies For Andhra Pradesh has focused on providing good infrastructure for the establishment of the start-up in agriculture, IT, and electronics which would help in increasing productivity and employment generation.

BENEFITS

1. Incubator Program

The major objective of Startup India Policies For Andhra Pradesh is the creation of homegrown entrepreneurs via innovation. This policy would help it to have the provision of mentoring support, accounting, patent filling, IP rights, and co-working spaces. Besides, the policy also helps in funding registered startups through venture capitalists from AP Government.

2. Acceleration Program

Through this program, the government of AP would help in the creation of an innovative environment so as to enhance the capacity building of the innovators and entrepreneurs. This would, in turn, help the entrepreneurs to boost their presence in the global marketplace, mobilize venture capital for them and provide an assessment to the global commercial development network.

3. General Services

It includes ease of doing business for any startup up to three years from the date of commencement of business. Besides, certification would be provided as per the integrated registration act.

4. Special Services

There is also a provision of special services that would be provided to the startups at a subsidized cost and includes legal, audit, taxation, accounting, and registration of the company.

5. Intellectual Property Facilitation Centre (IPFC)

National Research Development Corporation and Ministry of Science and Technology, GOI facilitates an IPFC for helping startups in offering copyright, patent filing, technology transfer and commercialization, and so on.

ELIGIBILITY CRITERIA

There are various eligibility criteria that are applied to the startups to avail benefits from the government of AP. These are:

• For IT units, employee strength of 100 would be eligible for getting allotment of land
• Only IT industries are eligible for 100% reimbursement of Transfer and Stamp Duty and registration fee for the first transaction and 50% for the second transaction
• IT units which are classified as MSME are eligible for 25% subsidy on power bills for three years
• There is a 50% subsidy on power bills for a period of five years for IT units established by women and SC/ST entrepreneurs
• MSME’s with a 15% growth rate per annum would be eligible for a 5% grant on turnover
• Units meeting 40% of their power via the renewable source of energy are eligible for availing benefits such as exemption of Electricity Duty for 5 years and 2 additional years of sales tax exemption as per earning of carbon credits on a yearly basis

Click here if you wish to get your Startup recognized under the Startup India Program.