Logo

All posts by Individual Author

Press Release: The AEONIAN – a 2-Day Startup Event in Mumbai on 9-10 November 2017

As advertised, we have partnered for the AEONIAN 2017 event. Aspire Media would like to include the following press release.

With an aim to bring all stakeholders of the Startup ecosystem under a single roof and help them grow and build mutual collaboration and explore their dynamics, The AEONIAN 2017 will be celebrating and rewarding the Startups.

Organised by Aspire Media Pvt Ltd in association with Deloitte – Knowledge and Validation Partner and NDTV, the two-day event will comprise of 5 activities that include Expo and Spotlight, Pitch, Conference & Networking and the Awards night. It will have 200+ stalls for the Startup and partners with an expected crowd of 3000+ Startup visitors, 300+ investors, 200+ exhibitors and 300+ award night attendees.

Being a part of The AEONIAN 2017will help Startups, students, angel investors, incubators, corporates, accelerators, academia, freelancers, working professionals, solution providers, industry experts and VCS to interact and collaborate with their prospects and grow professionally.

The AEONIAN helps Startup get an opportunity to meet potential investors and interact with the top companies of the Startup ecosystem, may get a chance to pitch their Startup concept, may nominate their Startup across various categories and can compete all other to win the awards, meet your peers and can come to know the updates of the Startup world.

Participating corporates would be able to help the Startup to flourish, identify potential Startup to associate with, meet key policy makers and develop mutually beneficial relationships.

Investors would get an opportunity to find the potential Startup across the range of funding scales under a single roof, may join their partner angels and VCs, share their experience and mentor the young entrepreneurs along with exploring business opportunities with tier 2 and 3 cities based talented Startups.

To be a part of this event all the stakeholders can register themselves and nominate now! Final registration close date would be on the 15 October’17.

For all categories of nomination and to view more details about the event, visit www.theaeonian.in

Startups: Why low ‘Ease of Doing Business’?

India is the third largest in number of start-ups hosted because of the new government’s well-executed action plan on improving infrastructure, raising foreign investment limits, and digitizing approvals and registrations. Despite this, World Bank’s latest ‘Doing Business 2017: Equal Opportunity for All ‘ report ranked India 130 among 190 nations on ease of doing business.

The main reason for this issue is the difficult compliance requirements of a complex set of laws and regulations of various government bodies like the state governments, the Department of Revenue, the Department of Industrial Policy and Promotion (DIPP) and the Ministry of Law & Justice. The compliance requirements are further complicated by the need to adhere to various labour laws and regulations of entities like the Employees State Insurance Corporation (ESIC) and Employees Provident Fund (EPF). Adhering with all these requirements is a challenge for startups. It results in unfortunate and unintended non-compliance issues and the imposition of penalties. Consequently, it increases both the cost and the hardships of doing business in the country.

Several suggestions have been made to improve the current situation:

  • A single window should be established for obtaining approval and licenses from all the aforementioned government bodies.
  • The frequency of filling requirements under relevant labour, indirect tax and direct tax laws should be reduced.
  • Labour and tax statutes should be amended to extend timelines from the imposition of penalties.
  • The Standing Orders Act of 1946, Payment of Wages Act of 1936, and Industrial Dispute Act of 1947 should be amended to exclude startups from the definition of ‘industrial establishment’, ‘industry’ and ‘industrial establishment or undertaking’.

 


Author: Ananya Singh

Disclaimer: THE STATEMENTS HEREIN REPRESENT THE CURRENT OPINION AND BELIEFS OF THE AUTHOR ONLY AND NOT START-UP INDIA ASSOCIATION (SIA). UNDER NO CIRCUMSTANCES SHOULD ANYTHING IN THIS POST BE CONSTRUED AS INVESTMENT, LEGAL, TAX, REGULATORY, FINANCIAL, ACCOUNTING OR OTHER ADVICE.

WordPress Video Lightbox