Start-up means an entity, incorporated or registered in India not prior to five years, with annual turnover not exceeding INR 25 crore in any preceding financial year, working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
- Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence.
- Provided also that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 5 years from the date of incorporation/ registration.
- Provided further that a Start-up shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.
Shaili Chopra, Founder, SheThePeople.TV, says the number of women participating in the start-up ecosystem is growing rapidly.
“There has been 50 per cent jump in the women participating in the start-up ecosystem in the last two years”, she said.
Anisha Singh, founder of coupon and discount marketing firm, Mydala, said she has seen a change in the environment for women entrepreneurs from 2009, when she started. In 2009, there were few women entrepreneurs and she had to challenge the investors’ imagination because she started raising funds when she was pregnant. According to the globally statistic, women-led businesses don’t have adequate funding and they face several challenges but the environment is changing and people are aware now. Though, a lot more women entrepreneurs have come forward to prove their mettle, things need to change faster.
Narrating her experience, Sairee Chahal, founder of women-only job portal, Sheroes, said it took her team a while to say that that are not an NGO and they are not going to work for free. They had to be told their financiers that theirs was a business model to convince them.
Shanti Mohan, founder of fund raising platform, LetsVenture, said she has never heard such questions as a start-up founder. As entrepreneurs, women should not think that they are under-powered. Now there are women funds too and they could leverage those.
With all of the above, hope more people especially the young be inspired for a Start-up.
News sources- Indian Express, Firstpost, India Today, Times of India, NDTV, CNBC
Image courtesy- Indian Express
Launching of Start-up India Movement