Government Introduces 'National Startups Policy, 2080' to Boost Startup Investments

The government is poised to enhance and support investment in startup enterprises with the introduction of the 'National Startups Policy, 2080.' Enacted by the Council of Ministers, the policy outlines a comprehensive framework designed to provide significant waivers and facilities to startups. Key provisions include facilitating investment, simplifying policy and legal requirements, and ensuring the commercial safety of startup ventures.

The new policy specifies that startups will be exempt from costs associated with enterprise registration and renewal, as well as the registration of industrial properties. Entrepreneurs will benefit from various incentives, including seed money, human resource development, consultancy and technical assistance, concessional loans, and export cash incentives.

A notable feature of the policy is the income tax waiver for startup enterprises, which will be available for up to 10 years post-establishment. Additionally, banks and financial institutions will be mandated to allocate a certain percentage of their loan portfolios to startups, providing loans at concessional rates to further support these enterprises.

To foster innovation and promote new ideas, a dedicated fund will be established. This fund will offer subsidies for loans provided by banks and financial institutions to startups, ensuring financial backing for innovative ventures.