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CODLEO IS REGISTERED WITH START-UP INDIA SCHEME

CODLEO IS REGISTERED WITH START-UP INDIA SCHEME

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CODLEO IS REGISTERED WITH START-UP INDIA SCHEME

Codleo Consulting is now registered with the Indian Government under its flagship Start-Up India program. This scheme was announced by the Prime Minister Mr. Narender Modi during his annual Independence Day speech in 2015. This registration will open up many avenues for Codleo Consulting such as networking, funding, tax exemptions, and self-certify compliance for 6 Labour Laws and 3 Environmental Laws. The objective of this government initiative is to make it easier for start-ups to participate in the public procurement process and allow them to access another potential market for their products. Other objectives include the creation & innovation of products & services and improving the numbers of Indians gaining employment or self–employment.

As per the terms of engagement, a start-ups defined as an organisation that has its headquarters in India has been in operation less than 10 years ago, with an annual turnover of less than Rs 100 crore. Under this scheme, the government has the I-MADE program, to enable Indian entrepreneurs create 10 lakh mobile app start-ups, and the MUDRA Bank's scheme (Pradhan Mantri Mudra Yojana), an initiative which gives micro-finance, low-interest rate loans to entrepreneurs from low socioeconomic backgrounds. 

How does this scheme benefit entities like Codleo: 

  • Reduction in patent registration fees. 

  • Improved Bankruptcy Code, to ensure a 90-day exit window. 

  • Freedom from inspections for the first 3 years of operation. 

  • Freedom from Capital Gain Tax for the first 3 years of operation. 

  • Freedom from tax for the first 3 years of operation. 

  • Self-certification compliance. 

  • New schemes to provide IPR protection to start-up firms. 

  • Bid for government tenders and become a seller to the Government through the Government e-Marketplace (GeM) and other channels 

  • Connect with mentors, investors, start-ups, corporate and government bodies for collaboration, information, and so on. 

Mr. RS Maan, Global CRO of Codleo says “We are a perfect example of a company which stands for the true principles of this scheme in all respects. Our launching of mobile apps for the SMSE space, giving employment to bright young Indians, being a young company with less than 100 crore turnover adhere to the letter & spirit of this famed and very good initiative of the Indian government”.  

Codleo’s registration with this scheme will herald new and exciting opportunities for a start-up like ours. The sky is the limit as Codleo marches towards innovating, employing, and generating revenues for India. 

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