Legal Aspects of Business (LAB) Term III, PGDM (2017-2019) Startup India Scheme Course Instructor Dr. Manoj Kumar, D.Litt. Founder and Managing Partner Hammurabi and Solomon. ©ManojKumarIntroduction The Government of India launched a flagship initiative in 2016 to bring a strong ecosystem to nurture innovation and start-ups in the country in order to drive economic growth and generate large scale employment opportunities. The Start-up India Scheme launched under the initiative facilitates bank loans from Scheduled Commercial Banks between Rs. 10 Lakhs to Rs. 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) and one woman per bank branch for setting up a greenfield enterprise in trading, services or manufacturing sector. The number of new start-ups is rising every year. By 2020, there are projected to be around 2,100 in the country altogether. 2016 witnessed buoyancy in investor confidence — showcased by the 18% increase in number of deals.