Ministry of Commerce & Industry increases Turnover from 25Cr to100 Cr for Start-ups Registration

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Start-Ups
Start-Ups

Minister of Commerce and Industry, PiyushGoyal has informed that Department for Promotion of Industry and Internal Trade (DPIIT) vide its notification number G.S.R. 127(E) dated 19thFebruary 2019 has increased the maximum turnover for a firm to be considered as a start-up to Rs. 100 crore from earlier criteria of maximum turnover of Rs. 25 crore.

The Apprentices Act, 1961 makes it obligatory for employers to engage apprentices in “designated trades” and “optional trades” for all employers who have a workforce of 40 employees or above (sum of total regular and contract employees), across the manufacturing, services, trading sectors, etc.  For establishments having workforce of 6 to 40 employees, engagement of apprentices is optional.  However, establishments with 5 employees or less are not permitted to engage apprentices. The Apprentices Act, 1961 does have any provision for “Start-ups”.  As per sub rule (3) of Rule 7-B the Apprenticeship Rules, 1992, each establishment shall engage apprentices in a band of 2.5% to 10% of the total strength of the establishment including contractual staff.

The Government has no plan to increase or reduce the percentage of apprenticeship in establishments, at present.

The list of facilitators in Patents and Trademarks from Karnataka, registered with Intellectual Property office under Start-ups Intellectual Property Protection (SIPP) scheme as on 31st May 2019 is at Annexure I (a) and (b). As on 31st May 2019, more than 900 applications for Patents and more than 1900 applications for Trademarks have been filed by startups through facilitators under the SIPP scheme.

Government of India has established Fund of Funds for Startups (FFS) with corpus of Rs. 10,000 crore, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. As on June 24, 2019, SIDBI has committed Rs 3123.20 crore to 49 SEBI registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of Rs. 27,478 crore. Rs 483.46 crore have been drawn from Fund of Funds for Startups. Further, the AIFs have invested a total of Rs. 1,625.73 crore into 247 startups. State/UT-wise details of funds invested by the AIFs are at Annexure II.

 

ANNEXURE I(a)

List of Patent facilitators in Karnataka from Start-ups Intellectual Property Protection Scheme

Name of Patent Facilitator Patent Agent No. Area of specialization (as declared by the facilitator)
ANUGU VIJAYA BHASKAR REDDY 2420 Dairy Technology, Food Technology, Mechanical Engineering, Consumer Appliances
Basavarajappa NT 2509 Electrical Engineering
BIRENDRA KUMAR 1102 Electrical, Electronics, Mechanical, Telecommunications, Semiconductor, Computer Networks, Electromechanical, Intellectual Property rights
DR. P K Ashwini Kumar 331
KalyanChakravarthyKankanala 700  Biosciences
Namratha P. Shenoi 2256 Biochemistry, Biotechnology, Phamraceuticals Chemistry and Related Multidisciplinary Subjects
RitikaManchanda 2184 Mechanical, Electrical, Biotechnology, Pharmaceuticals, Biomedical Sciences, Food Technology, and related fields.
S. Afsar 1073 Electronics
AbhayPorwal 2631 Electrical Engineering, CSE
Anita Sharma 1475 Computer Science
Gaurav Jain 2562 Electronics, Teleco., Software, IT
M. Suresh Gupta 1302 Pharmaceuticals
SrikanthChilukuru 2682 Chemical / Pharma
Syed Murtuza 2633 Computer Science / Electronics
Vinita Radhakrishnan 1157 Biosciences, Food Industry,  Pharmaceuticals

 

 

 

 

 

 

 

ANNEXURE I (b)

List of Trademark facilitators in Karnataka from Start-ups Intellectual Property Protection Scheme

 

Name TMR agent Registration No. / Advocate Area of specialization (as declared by facilitator)
AnuguVijayaBhaskar Reddy TMA/ 1000 Trademarks
Birendra Kumar D/2012/11 Trade Marks
D. PrasannaBhagwan KAR/942/14 Trade Marks
Rama K 17796 Not provided
Shrikant V Kumbar KAR/1008/14 Not provided
ShrivaniShrivastav TMA/1050 Not provided
Suhasini S. KAR/2085/13 Not provided
Syed Murtuza TMA/1053 Not provided
Vishwambara R KAR/977/14 Trade Marks
BabithaTharappan TMR Agent 32027 Trade Marks
Santosh Vikram Singh KAR/2017/09 Trade Marks
Afsar S. Patcha Adv. Reg. No. KAR/1168/2012 Not Provided
Maram Suresh Gupta Adv. Reg. no. 3052/2009 Not Provided
ZahedaMulla AMR/13571 Not Provided
Deepa E. S. KAR/1536/18 Not Provided
Anita Sharma KAR/1658/2012 Not Provided

 

ANNEXURE II

State-wise distribution of investment made by AIFs under Fund of Funds for start-ups

State No of Startups Invested in Investment made by AIFs

(in crore)

Karnataka 75 499.85
Maharashtra 68 440.38
Delhi 46 252.94
Haryana 12 120.54
Tamil Nadu 11 113.34
West Bengal 4 48.75
Uttar Pradesh 5 47.61
Rajasthan 5 40.28
Telangana 6 28.22
Punjab 1 14.50
Kerala 8 10.87
Madhya Pradesh 4 5.10
Gujarat 1 3.14
Uttarakhand 1 0.22
Total 247 1625.73

 

 

 

 

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