Startup Assam

Brief objective

Under Assam Startup Policy 2017, various incubation centres were set up by the state government to facilitate the growth of at least 1,000 new startups over the upcoming years.

Benefits to the citizens

• The State Government will provide 50% subsidy for the purchase of computers, related hardware and software 
• The State Government will provide subsidy up to 50% subject to a maximum of 5 lakhs of the rental cost for the first three years 
• The State Government will provide subsidy up to 50% subject to a maximum of 1 lakh for 5 years 
• The cost for filing a patent application will be reimbursed to the startup companies with the limit of Rs. 1 lakh per Indian patent awarded. For awarded foreign patents, maximum limit up to Rs. 5 lakhs can be reimbursed.
• The one-time incentive of Rs.5000 for hiring women, transgender and differently abled will be given for 3 years
• Any innovative idea developed into a new product or service, which generates revenue for the startups will be funded with the amount of Rs.5,00,000 per startup.
• The cost for marketing and promotion, including travel incurred by the startup will be reimbursed to the startup companies with the limit of Rs. 5 lakh per startup.
• Any entrepreneur who establishes Start-ups will be eligible for an allowance of Rs 20,000 per month per Start-Up for one year under the following conditions:
  • The startups should have a validated prototype or working model.
  • The entrepreneurs of the Start-Up entity should have an alternate source of income.
  • It has to be at least one woman entrepreneur in the Start-Up entity.

Eligibility

The given below eligibility criteria may register under Startup Assam policy:

• The company to be formed should be a limited liability partnership/ private limited company/ partnership firm.
• It should be a new firm or existing firm not older than 7 years, and the annual turnover of the company not exceeding Rs. 25 crores.
• The firm must work towards innovative schemes, development, deployment or commercialization of new products.
• The firm should not be an expansion or extension of an existing business.

How to apply

Online

To register for Startup Assam, visit the official website of Assam Startup.  The eligible entities can register for a startup using the startup registration link. After registration, the application will be reviewed by the Officer from Department of Commerce and Industries (Nodal Department), the state startup certificate will be issued within 10 days of applying after all the submitted documents are verified.

Whom to Contact

Government of Assam

Link to online application

Startup Assam

Additional Information

The following set of documents has to be submitted while registering for Startup recognition:

• Certified copy of Incorporation
• Proof of innovation has to be enclosed as per any of the following:
• Certificate of DIPP Startup India recognition with a one-page write-up on Innovation.
• The patent filed in the entity name and the nature of business being promoted with one page write up on Innovation
• Assurance Letter of the grant provided by the Government of India to the entity to promote innovation with one page write up about innovation.
• Letter of grant issued by any Angel Fund/ Private Equity Fund/  Incubation Fund/ Accelerator/ Angel Network duly registered with (SEBI) Securities and Exchange Board of India.

Note: If an entity doesn’t own any of the above mentioned four documents, they may submit a one-page write-up/note explaining the innovative nature of the entity. The applicant is encouraged to share its business plan along with the letter on innovation.