Start-up India and Stand-up India are both initiatives by the government to usher in entrepreneurship.
“Stand Up India Scheme” is to promote entrepreneurship among SC/ST and Women entrepreneurs. Whereas Start Up India scheme is to promote new ventures/initiatives.
Some features of Stand up India are as follows:
- The scheme is a part of Start-up India, Stand up India slogan to encourage entrepreneurial projects.
- The scheme will facilitate two entrepreneurial projects on an average one for each category (Women and SC/ST) of entrepreneurs per bank branch.
- The scheme will provide financial aid through SIDBI with an initial amount of Rs 10,000 crore.
- A credit guarantee system would also be implemented under the scheme through the National Credit Guarantee Trustee Company (NCGTC), which will act as the operating agency for financial aids.
- The scheme will also familiarise the entrepreneurs with factoring services, e-market places and registration with online platforms and other aspects of web entrepreneurship.
Features of Start-Up India are as below:
- Single Window Clearance with the help of a mobile application
- 10,000 crore fund of funds
- 80% reduction in patent registration fee
- Modified and more friendly Bankruptcy Code to ensure 90-day exit window
- Eliminating red tape
- Self-certification compliance
- Innovation hub under Atal Innovation Mission
- Encourage entrepreneurship