A startup is basically a small newly established business. It may have single individual or group of individuals. It is differentiated by other form of business as startup is being formed on the basis of new product or services only, which must not be given anywhere else. For a startup, there must be “Innovation”. Startup may develop a new product or service, or may redevelops the existing product or service into better one.

In India, startups has became more popular with time. It helps in developing Indian economy and in attracting entrepreneurs. Under the leadership of PM Narendra Modi and Government of India, has started the concept of Startup and promoted this initiative named “Startup India” which is used to recognize and promote startups.

If one needs a patent for his innovation or trademark for his startup business, then one may get 80 percent reduction in fees. He will have to bear the statutory fees only by applying through the list of facilitators which are issues by the government.

Though startup is a new business, it does not have much experience and it results in not attracting more investors. To solve this problem, Government has set up a fund system to provide funding support with an initial corpus of INR 2,500 crore and a total corpus of INR 10,000 crore over a period 4 years.