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Startup and Incubation Cell Click here for Help Support Help Center Contact Number 0755- 2558743
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The Government of Madhya Pradesh is committed to develop vibrant ecosystem for startups in the State. To help the Startups,the state has brought out “Incubation and Startup Policy 2016” and to implement the policy “Incubation and startup Promotion Scheme 2016” has been issued . Since startups are the result of inquisitive young mind, here are some answers to frequent questions- What type of incorporation should I use for my Startup business? .An entity shall be considered as a Startup: i. Upto a period of seven years from the date of incorporation/registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India. In the case of Startups in the biotechnology sector, the period shall be upto ten years from the date of its incorporation/ registration. ii. Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded Rs. 25 crore iii. Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation. Provided that an entity formed by splitting up or reconstruction of an existing business shall not be considered a ‘Startup’. |
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How do I incorporate? To form a legal entity, you would typically work with professional /experts and then complete registration process/incorporation process in Madhya Pradesh. The legal entity has been defines as above in definition. |
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How Can I Register as Satrtup for availing benefit of MP State Incubation and Startup Policy ? Yes. You are required to get register on line on http://raman-coe.mapit.gov.in:8080/mpmsme/website/mp-start-up-registration |
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What benefits do I get as startup? Yes. You may get Interest subsidy, Lease Rent subsidy, Patent And Quality Promotion Subsidy, Satrtup Marketing Assistance and Credential Development assistance.
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Do I need to incubate in Madhya Pradesh for availing benefits? Yes . You have to incubate in any incubation centers in Madhya Pradesh A net- work of incubators and mentors is available on http://raman-coe.mapit.gov.in:8080/mpmsme/website/incubation-network |
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What is a incubator? Incubator is an organization which provides a platform to start-ups for business support through facilities like physical space, infrastructure, funding network, mentoring/training and other common facilities. Incubators shall be based in MP and registered with Nodal Agency/Policy Implementation Agency. |
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How do I get Funding? Madhya Pradesh Venture Finance Ltd is a company promoted by the State Government to provide venture capital to Startups. http://www.mpvfl.com/ |
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How do I protect my idea? You can file for patents, trademarks, and copyrights. If you have something propriety about your company, you should consider filing for a patent to temporarily protect your business in its infancy to get it up and running. There IPR Support Centers – http://raman-coe.mapit.gov.in:8080/mpmsme/website/intellectual-properties-support-center |
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Should I raise money? Depends. Seed funding usually come from friends and family however Government has issued guidelines on seed funding . Capital is an important ingredient to take your idea to the next level, then it may be time to consider raising money. You may approach various agencies including Department of MSME Madhya Pradesh to avail benefits given under various schemes. Other departments like Department of Science And Technology Madhya Pradesh is also providing support to Startups . They are private funding agencies who may invest with startups . |
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How do I know if my idea is good? Talk to your customers. Generate feedback. assess carefully . Talk to mentors Get your concept validated yourself enough money to survive and work on the business without taking on the distraction of other jobs and responsibilities. |
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What incubator should I apply to? There are number of incubators sprouting up in the state. You have to choose any of them .You may approach them and discuss . |
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Is there on line learning tool for entrepreneurs? Yes . Visit following page of MPMSME website http://www.robustwellness.in/edpmp/ |
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Where should I write to get help? Sh. Siddharth Khare Assistant Director Contact Number: 9977275896 E-Mail: sicell.msme@mp.gov.in |
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