Govt expands criteria to define startups, Pg17

Key Highlights:

• The government has broadened the criteria for startup recognition by raising the turnover limit to Rs 200 crore.
• A new category called 'Deep Tech Startup' has been introduced.
• The Department for Promotion of Industry and Internal Trade issued the notification.

Detailed Insights:

• The increased turnover threshold aims to include more companies under the startup umbrella, facilitating access to benefits.
• Deep Tech Startups focus on innovative technologies with significant research and development, potentially transforming industries.
• This expansion aligns with the government's focus on promoting innovation and entrepreneurship through the Startup India initiative.

Key Concepts Involved:

• Startup: A company or project initiated by an entrepreneur to seek, develop, and validate a scalable business model.
• Deep Tech: Startups based on high-tech or scientific advances and discoveries.