Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said that 'Start-up India' is an important initiative and steps have already been taken to implement the action plan announced by the government.
Recently, DIPP has issued the definition of startups and is also making it easier for them to file intellectual property rights (IPR), he said.
"In another week's time, we are going to start the startup portal and the process of registration of startups also," he said here at a Ficci function.
In Budget 2016-17, the government announced a slew of initiatives for startups, including 100 per cent tax exemption for three years.
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Similarly to promote innovation, a special patent regime has been proposed with a 10 per cent rate of tax on income from worldwide exploitation of patents developed and registered in India.
Under the 'Start Up India Action Plan', the proposal is also to establish a 'Fund of Funds' which intends to raise Rs 2,500 crore annually for four years to finance startups.