New Definition for Startups ?

 Context :

Startups seek new definition in note to government   /  Eco Times  / 20 Jan 2022

 

Extract :

 

Industry body Indian Private Equity and Venture Capital Association (IVCA) has proposed a new definition for startups in a note to the government ahead of the Union budget where it also reiterated some older demands like allowing local firms to directly list overseas.

IVCA has proposed that a company should be considered a start-up as long as it is under 10 years old and not a subsidiary or outcome of a merger or spin-off, irrespective of its revenue, multiple people aware of the matter told ET

 

“Currently, the amended provisions by the Department for Promotion of Industry and Internal Trade (DPIIT) say a company will be recognised as a start-up till 10 years from its date of incorporation, with a revenue threshold of Rs 100 crore,” a person aware of the matter said. “They (IVCA) have proposed that revenue should not be a benchmark at all.”

Doing “innovating” work, too, would be an important criterion, as per IVCA’s note.

“Less than 500 startups have actually opted for the IMB certification,” one of the sources mentioned above said. “Let investors be the judge of promising startups rather than the government officials.”

MY  TAKE  :

 

 

I urge, both IVCA ( aakriti@ivca.in  / rahul.shah@ivca.in / Sunitha@ivca.in ) and the Union Government to read following , before announcing any NEW DEFINITION :

 

 

#    A  New   Economic  Order  -  Start Up  Act  / 2015…………. [ 12 Nov 2015 ]

 

#       Start up wish list ………………………[  28  July  2016  ]

 

#     In Wonderland  of  Start Ups

 

#     FDI ;by any other name ?

 

#     StartUps  need  wooing  ?

 

#     50 million  new  jobs  in  5  months  ?

 

#     A Riddle   wrapped   in  Mystery

 

#     Well  Begun   is   Half   Done

 

#     How  to  Stop  the  Start  Ups

 

#     Start Up  Re-defined

 

#     10 Million  Start  Ups  in  one   Year  ?

 

#     Fear  of   being   Ridiculed  ?

 

#     Blue Print  for  Start  Up  Nation

 

#     Get  Out   of   the   Way

 

#     Ten  Million   Entrepreneurs  ?

 

#     Start Up   Eco- System  /  USA  vs  INDIA

 

#     Treading  the   Beaten   Path

 

#     Second  Industrial   Revolution

 

#     From  Job-seekers   to   Job-Creators

 

#    Myth  of   Job  Creation

 

#    A  New   Economic  Order  -  Start Up  Act  / 2015

 

#   Back Factory  of  the  World

 

 

#   Killing Many   Birds   with   one   Stone

 

 

#   Jan Dhan   Sarjan   Yojana

 

 

 

#   Who  will   obsolete   Whom  ?

 

 

#   Defining  E  Commerce

 

 

 

#   FDI  in   Retail

 

With regards,

 

Hemen Parekh / hcp@RecruitGuru.com  /  20 Jan 2022