Professional Documents
Culture Documents
Startup India Wellness Company
Startup India Wellness Company
INTRODUCTION
“START UP INDIA”
During the speech at the event, Mr. Modi said that we are trying to
make the young job creators rather than job seekers. He also said that we
are trying to the young job creators rather than job seekers. He also said
that one’s mindset should not be towards earning money in the initial
phase , it should be rather on grabbing and using the opportunities.
Technology is evolving with the pace faster than ever . This has given
birth to various new businesses like E-commerce , internet marketing
etc. So, there is a great scope of development in such areas. Those who
plan to start new business are eligible to apply.
INVESTMENTS
SoftBank, which is headquarterd in Japan, has invested $2 billion
into Indian startups. The Japanese firm had pledged the total investments
at $10 billion. Google declared to launch a startup, based on the highest
votes in which the top three startups will be allowed to join the next
Google Launchpad Week, and the final winner could win an amount of
$100,000 in Google cloud credits. Pradhan Mantri Mudra Yojana is
also one of the similar initiatives to refinance the micro units.
WHAT IS THE ELIGIBILITY FOR STARTUPS?
To become eligible as a startup and get a green signal from the
Inter-Ministerial Board, the entity should be the one which aims to
develop and commercialize a new product or service or process or a
significantly improved existing product or service or process that
will create or add value for customers or workflow. Products,
services or process, which do not have potential for commercialization
or is undifferentiated or have no or limited incremental value will not be
considered under the Scheme. To be considered as eligible as startup the
entity, should be supported by a recommendation (with regard to
innovative nature of business), in a format specified by Department of
Industrial Policy and Promotion, from an Incubator established in a post-
graduate college in India an incubator, which is funded (in relation to the
project) from Government of India as part of any specified scheme to
promote innovation a recommendation (with regard to innovative nature
of business), in a format specified by DIPP, from an Incubator
recognized by Government of or be funded by an Incubation Fund/
Angel Fund/ Private Equity Fund/ Accelerator/Angel Network duly
registered with SEBI that endorses innovative nature of the business or
be funded by Government of India as part of any specified scheme to
promote innovation or have a patent granted by the Indian Patent and
Trademark Office in areas affiliated with the nature of business being
promoted This eligibility criteria is presented in flowchart given below
for more understanding of readers.
1. Self certification
The start-ups will adopt self-certification to reduce the regulatory
liabilities. The self-certification will apply to laws including payment of
gratuity, labour contract, provident fund management, water and air
pollution acts.
3. Easy Registration
An online portal, in the shape of a mobile application, will be
launched to help start-up founders to easily register. The app is
scheduled to be launched on April 1.
4. Patent protection
A fast-track system for patent examination at lower costs is being
conceptualized by the central government. The system will promote
awareness and adoption of the Intellectual Property Rights (IPRs) by the
start-up foundations.
5. Corpus Funds of Rs. 10,000 crore to support start-up.
The government will develop a fund with an initial corpus of Rs
2,500 crore and a total corpus of Rs 10,000 crore over 4 years, to support
upcoming start-up enterprises. The Life Insurance Corporation of India
will play a major role in developing this corpus. A committee of private
professionals selected from the start-up industry will manage the fund.
17. Rebate
A rebate amount of 80 percent of the total value will be provided
to the entrepreneurs on filing patent applications.
HOW TO REGISTER?
Start Up India Official application is expected to be launched on
1st April 2016 for the registration of Start Up in one day.
TAX EXEMPTION ON INVESTMENT ABOVE FAIR
MARKET VALUE OBJECTIVE:
Details:
The Indian market offers a huge potential for those who are
introducing innovative measures in the wellness segment. Stress and
tension are two main factors that are deteriorating the condition of the
population. Due to elevated disposable income and awareness, entering
in a wellness business can be very fruitful.
INDIA’S WELLNESS START-UPS SEEING NEW
AVENUE OF GROWTH IN CORPORATE WELLNESS
PROGRAMME
WHAT IT DOES?
OUTCOME
Employees are the pillars on which an organisation stands. If
happy and healthy, employees would willingly make an extra-effort to
boost their organisation’s growth. Thus, Corporate Wellness
Programmes are could be that engaging and encouraging factors which
not only brings health to the employees, but made them glued to the firm
for years leading to continuous growth. Also, it will boost the growth
prospects of Wellness Industry as a whole after getting adequate back
support from big corporate.
CHAPTER:-2
REVIEW OF LITERATURE
RESEARCH METHODOLOGY
We have listed down the total funding AIFs have received from
SIDBI under Fund of Funds as part of Startup India plan. Apart from
fund details, we have also included the number of startups that have
been funded by each one of them below.
Although it’s unlikely, yet for the novice, here is a brief rundown
on how exactly the SIDBI-AIFs association work to impart designated
corpus to the startups, as part of Startup India plan.
*The information about the startups has been collected majorly from
available public sources and has been collated in an alphabetical manner.
CHAPTER:-5
ANALYSIS
GROWTH OPPORTUNITIES
In India, the health and wellness market has been growing. The
sector is fragmented and there is a need for its consolidation into an
organized one. Mom and pop shops are giving way to organized
retailing when it comes to gyms, and it is felt that this process will
accelerate in coming years.
Fiticket has tied up with over 450 gyms and fitness studios across
Mumbai alone. The Fiticket app is currently available on the iOS
platform and for Android. The app witnessed 500 bookings per month in
its beta version. Currently, it has over 1500 users each month, and its
monthly subscription package is priced at Rs 2499.
It has 7500 unique visitors daily, and an active user base of more
than 50,000. It has raised a pre-series A investment of USD one million,
led by Bengaluru-based Exfinity Venture Partners.
Supportive role PM Narendra Modi has shown immense interest
in the wellness industry, especially Yoga. He recently formed a separate
Ministry named AYUSH, which will have a Department for YOGA.
Moreover, Yoga has been exempted from service tax.
Investors and incubators are also playing a big role by supporting and
mentoring startups in the wellness space.
FUTURE PROSPECTIVE
According to a joint study by FICCI and PWC, the Indian wellness
industry will touch Rs 1 trillion in 2015.
Amaresh says, "With the increase in the disposable income of
people in tier 1 and tier 2 cities, wellness is going to be a major
expenditure of the common man."
Going through the other side of the coin, the industry is highly
unorganised, with poor service levels, renewal rates, a lack of trained
manpower and information, etc.
CONCLUSION