Hello friends welcome to Sonu live ,in this article I’m going to tell you about DIFFERENTIATE BETWEEN START UP AND STAND UP INDIA
Both Start Up India and Stand Up India are government initiatives aimed at fostering entrepreneurship in India, but they cater to different target groups and offer distinct benefits. Here’s a breakdown based on current data as of January 2024:
Target Group:
- Start Up India: Focuses on all startups with innovative ideas and annual turnover under ₹100 crore. This includes businesses across various sectors and domains.
- Stand Up India: Specifically targets women entrepreneurs and individuals belonging to Scheduled Castes (SC) and Scheduled Tribes (ST). It aims to empower marginalized communities by providing them with resources to start and grow their businesses.
Eligibility:
- Start Up India: Startups need to register on the official platform (https://www.startupindia.gov.in/) and meet specific criteria related to innovation, age of the venture, and annual turnover.
- Stand Up India: Individuals must belong to the SC/ST category or be a woman entrepreneur aged above 18. Additionally, their proposed business venture must be a greenfield project (not an existing business).
Benefits:
- Start Up India: Offers a bouquet of benefits, including tax exemptions, regulatory easing, funding support, incubation facilities, and intellectual property protection.
- Stand Up India: Primarily focuses on providing loans for business establishment and expansion. Loans range from ₹10 lakh to ₹1 crore, covering up to 85% of the project cost.
Current Impact:
- Start Up India: As of July 2023, over 85,000 startups have registered under the scheme, attracting significant investments and contributing to job creation.
- Stand Up India: Over 8 lakh loans have been sanctioned under the scheme as of October 2023, empowering women and SC/ST entrepreneurs across various sectors.
Key Differences:
| Feature | Start Up India | Stand Up India |
|---|---|---|
| Target Group | All startups | Women and SC/ST individuals |
| Eligibility | Innovation, age of venture, turnover | Gender/caste category, greenfield project |
| Benefits | Broad range of support | Primarily loan financing |
| Impact | Investment attraction, job creation | Women and SC/ST empowerment |
Conclusion:
Start Up India and Stand Up India are complementary initiatives addressing different needs within the entrepreneurial ecosystem. Both are crucial for fostering a vibrant and inclusive entrepreneurial environment in India. While Start Up India supports innovative ventures across sectors. And Stand Up India empowers marginalized communities by facilitating their entry into the business world. Understanding these differences helps entrepreneurs choose the scheme most relevant to their needs. And contributes to the overall success of the Indian entrepreneurial landscape.
I hope this clarifies the distinct characteristics and current impact of both initiatives. Feel free to ask if you have any further questions!
READ MORE- https://sonulive.in/solutions-of-the-challenges-of-inclusive-growth-in-india/