TagDIPP

A budget for “Digital Economy” sake

A

Looking deeper in to the budget 2017. [An immediate official iSPIRT response to the budget was issued as a Press release on 1st FEB 2017. It is placed in media section. You can access it here.] Budget can’t be construed as main stream policy making exercise. Yet, the policy analysts and experts, track it with utmost seriousness, to understand Government’s thought process in economic policy...

RBI allows convertible notes for Startups from foreign sources

R

As part of policy hacks, we covered the issue of Convertible notes being recognized by Ministry of Company affairs (MCA) in our earlier blog here. For benefit of users to start, the convertible note has been explained below. What is a convertible note? Convertible notes are debt instruments that converts in to equity, at a later date. The lender initially gives a loan with an understanding that...

ESOP provisions get a booster from MCA for Startups

E

ESOP another Stay-in-India checklist item gets MCA nod Ministry of corporate affairs (MCA) has recently relaxed sweat equity issuance norms for startups. These new relaxations are for limited to Startups recognized by Department of Industrial Policy and Promotion (DIPP).  The announcement will immensely help startups. For startups not recognized under DIPP, there is not change. The new...

Investment above Fair Market Value – no more Angel tax for Startups

I

In this session we take up a long pending issue of “Angel Tax”. It has been given partial reprieve recently, under StartupIndia plan. We also discuss how startups can raise money from Angels, without getting trapped in fair market value rule of finance act 2012. Sanjay Khan speaks on the problem, the latest announcement and the way out for startups to raise equity without DIPP route, in the below...

DIPP – New Secretary catalyzing the past efforts, for Startup Ecosystem.

D

Mr. Ramesh Abhishek, Secretary of DIPP in a learning-session with iSPIRT. He formerly headed the Forwards Market Commission and has subsequently served as the secretary of performance management at the Cabinet Secretariat. He has been the key driver behind several reforms including the FMC being merged with SEBI. Mr. Ramesh Abhishek, is the new Secretary of DIPP (Department of Industrial Policy...

Q-Prize – A US$ 350,000 opportunity for Startups in Make in India week

Q

With only a few days to go for the Make In India week, the Department of Industrial Policy & Promotion (DIPP) is set to announce a Rs 2 crore bounty along with Qualcomm. During the Make in India Week being held in Mumbai, the DIPP and Qualcomm Incorporated, through its venture investment arm, Qualcomm Ventures, have announced India’s largest Startup prize till date will see the winner walk...

Startup Action Plan: Glass Half Full

S

Innovation and entrepreneurship are cornerstones of sustained economic growth. The Government has done well to recognise this by launching the Startup India Action Plan. The event was an unprecedented and resounding success. The energy in entrepreneurs, leaders of unicorns, seasoned investors, Government officials, etc was intense and, for most part, contagious. No doubt the Startup India Action...

Sign Startup Bridge Petition and promote Stay-in-India Checklist

S

Today’s Economic Times carries an article about “The Dark Secret of India’s Start-up Boom”. This implores the Modi Government to make bold moves regarding the onerous regulations that startups face. iSPIRT is also part of the new Startup Bridge India campaign, which urges the Indian government to adopt best practices from around the globe to help startups start, flourish and exit.  We’ve...

iSPIRT Meeting at PMO – Stay in India Checklist

i

An important policy agenda for iSPIRT is to reverse the exodus of technology startups. About 75% of the funded technology startups are redomiciling outside India due to regulatory irritants. iSPIRT has a Policy Expert Team – called Stay-and-List-in-India – working only on this area since December 2014. This is the policy team that worked closely with SEBI on the “startup bourse” that was notified...