Start Up India policy 2.0: Norms to be reset for biotech firms

DIPP softens stance, rejected entities can seek tax breaks

The Start Up India policy — first announced by Prime Minister Narendra Modi in his second Independence Day speech in 2015 — is ready for a makeover. Even as the policy guidelines, issued in January 2016 in another mega event, promised many sops to entrepreneurs, the plan has failed to attract start-ups the way it had set out to.

The government is likely to tweak the Start Up India policy within a fortnight to accommodate more innovations, an official aware of the developments told Business Standard. The definition of the policy would be changed as well, making it more liberal