Standup India and Startup India Schemes – what are the differences between Standup India Scheme and Startup India Scheme – what is a startup India Scheme – What is Standup India Scheme – Startup India and Standup India nature, objectives, target group, scopes, nature of business entities
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Startup India Scheme: An Overview
It is a flagship scheme of the government of India, launched on January 16, 2016. The scheme has rolled out several programs with the objective of creating a good culture for startup entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers. It is intended to build a strong ecological system for nurturing innovations in startups in the country that will drive sustainable economic growth and generate large-scale employment opportunities. The action plan of this scheme has been divided diagonally into the following main three areas:
- Simplification and handholding;
- Funding Support Incentives and
- Industry-Academia Partnership and Incubation
Plans and Programs in support of Startup Business models and MSMEs under Standup India and Startup India
- Zero Defect Scheme
- Design Clinic Scheme
- Pradhan Mantri Mudra Yojana
- Credit Guarantee Trust Fund Scheme
- Startup India Portal Scheme
- Credit Linked Capital Subsidy Scheme
Difference between Standup India Scheme and Startup India Scheme
| Basis | Standup India Scheme | Startup India Scheme |
|---|---|---|
| Nature | It is a loan Scheme in nature and provides loans from Rs 10 Lakh to Rs 1 crore. | It is an ambitious moment to develop novel and unique products based on innovation. |
| Objective | To motivate self-employment to the specific class of the nation. | To motivate young entrepreneurs of all classes to innovative-based business activities. |
| Target Group | Under this scheme, only SC and ST candidates along with General women entrepreneurs are being motivated for self-employment. | Under this scheme, all categories of entrepreneurs are motivated with high-level technological capabilities according to the changing preferences and expectations of consumers. |
| Scope | Comparatively the scope of this scheme is limited and narrow. | This scheme has a wide scope and the standup India scheme is treated as a main part of the same. |
| Nature of Business Entities | Under this scheme, the loan is being provided for only green field projects to eligible applicants. | Under this scheme, unlimited financial assistance is being provided to the industries affiliated with new ideas that have the potential for long-term development. |
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