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Regd. No. NW/CH-22

Regd. No. CHD/0092/2018-2020

EXTRAORDINARY

Published by Authority

CHANDIGARH, THURSDAY, SEPTEMBER17, 2020 (BHADRA26, 1942SAKA)

( 1341 )

GOVERNMENT OF PUNJAB

Department of Industries and Commerce

(Policy Implementation Unit)

CORRIGENDUM

The 16th September, 2020

No. PIU/IBDP-2017/OG-2018/2020/3527.-The Governor of Punjab is pleased to make following

amendments in Clause 16.3, 16.4, 16.5 and 16.6 of Chapter-16 of Detailed Schemes & Operational Guidelines,

2018 notified vide No. PIU/IBDP-2017/2018/4010 dated 07.08.2020 for scheme for providing incentives to

start-ups under Industrial & Business Development Policy, 2017:-

Clause

Existing Clause under Detailed Schemes

Amended Clause

& Operational Guidelines, 2018

Start-up Registration

The registration by a start-up entity for recognition

can be done online by filling a Start-up Registration

Forms STA (for Provisional Registration) or STB

(Registration) which would be processed as per

procedure defined in clauses 16.4 and 16.5 below

and giving self-certification for the following set of

documents:

(ii)

Self-certification for Start-up definition (As

amended by DPIIT, Government of India

from time to time):

• Upto a period of ten years from the date

of incorporation/ registration, if it is

incorporated as a private limited

16.3

Start-up Registration

The registration by a start-up entity for recognition

can be done online by simply filling a Start-up

Registration Form and giving self- certification

for the following set of documents:

Sr. no. (i) remains same.

(ii). Self-certification for Start-up definition:

• Date of incorporation / registration of entity

is not prior to seven years, however for

Biotechnology Startups not prior to ten

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company (as defined in the Companies

Act, 2013) or registered as a partnership

firm (registered under section 59 of the

Partnership Act, 1932) or a limited

liability partnership (under the Limited

Liability Partnership Act, 2008) in India.

• Turnover of the entity for any of the

financial years since incorporation/

registration has not exceeded one

hundred crore rupees.

• Entity is working towards innovation,

development or improvement of

products or processes or services, or if

it is a scalable business model with a high

potential of employment generation or

wealth creation.

Provided that an entity formed by splitting

up or reconstruction of an existing business

shall not be considered a ‘Startup’.

(iii)

Self-Certification for Proof of innovation:

• DPIIT Start-up India recognition certificate;

Procedure for Processing of Application for

Provisional Registration

(i)

The start-up entity will have to submit its

application form ST-A online in the Start-up

Registration Form on the web portal.

(ii)

After initial scrutiny of the ST-A form, on

line Provisional Registration certificate will

be issued.

years

•

The entity’s annual turnover does not

exceed Rs.25 crore, for any preceding

financial year

•

The entity is not an extension of the

existing family business; or formed by

splitting up or reconstruction of a business

already in existence.

(iii). Self-Certification for Proof of innovation:

• DIPP Start-up India recognition

certificate; OR

16.4

Procedure for Processing of Application for

Recognition

(i)

The start-up entity will have to submit its

application online in the Start-up Registration

Form on the web portal.

(ii)

The application shall be forwarded to the

concerned nodal agency.

(iii)

Nodal agency may schedule a call or a

meeting with the start-up entity, if it deems

necessary. The Nodal agency will then

send its report on the proposal with

recommendations for its acceptance or

rejection.

(iv)

All such applications will be collated with

the recommendations of Nodal Agency and

will present to the Start-up Coordination

Committee for consideration and final

approval/ recognition/ certification of Start-

up Unit

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Combined Procedure for Registration and

availing Financial Assistance

(i)

The start-up entity will submit its

application form ST-B for Registration and

SF-Seed Funding financialassistance form,

if the start up opts for availing seed funding

financial assistance, otherwise case will be

processed only for Registration. Other

financial assistance forms like IS-Interest

Subsidy and Start-Lease Rental Subsidy,

which are payable annually subject to the

limit as defined in Industrial and Business

Development Policy 2017, can be filled as

and when accrued at the end of the year as

per procedure defined under 16.5(b).

(ii)

After initial scrutiny of all the application

forms and requisite documents by the start-

up cell, it will be forwarded to concerned

nodal agency. Meanwhile Provisional

Registration certificate will be issued.

(iii) The Nodal agency will review the

application forms and assistance forms of

the startup entity and will forward its

recommendations both for Registration as

well as financial assistance (if applied for

by the Start-up) within next 2 weeks of

receipt of such application to the Start-up

Coordination Committee. Nodal agency

may schedule a call or a meeting with the

startup entity, if it deems necessary.

(iv) The recommendations of the nodal agency

will be put up before the Start-up

Coordination Committee.

(v)

The Start-up Coordination Committee may

call the applicant for a presentation or any

clarification in relation to either eligible

activity or the cost marked against the

eligible activity, or any of its components.

(vi) After the approval of the Start-up

Coordination Committee w.r.t Registration

of the start-up, Registration certificate will

be issued by the Start-up Cell.

16.5(a) Addition of point (a) under Clause 16.5

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(vii) Start-up Coordination Committee will also

record its recommendations concerning

financial assistance to the start-up, if

applied for, by the Start-up.

(viii)The recommendations of Start-up

Coordination Committee concerning

financial assistance to the start-up will be

put up to the State Level Committee for

considering sanction of fiscal incentives to

the Registered startups.

(ix) Financial sanction with regard to the

concerned financial assistance (seed

funding in this case) will be issued after the

approval by the State Level Committee for

the fiscal incentives to the registered

startups.

(x)

All the financial assistance approved by the

State level committee shall be disbursed

according to the procedure defined in the

Detailed Schemes and Operational

Guidelines- 2018.

Procedure for availing assistance by Registered

startups

(i)

The applicant, once registered, will select

the required financial assistance forms, i.e.

IS-Interest Subsidy, Start- Lease Rental

Subsidy, SF-Seed Funding, for availing

financial assistance on the web portal in

respective forms. Financial assistance

forms like IS-Interest Subsidy and Start-

Lease Rental Subsidy, which are payable

annually subject to the limit as defined in

Industrial and Business Development

Policy 2017, can be filled as and when

accrued at the end of the year.

(iii)

The Nodal agency will review the application

of the startup entity and will share its

recommendations within next 2 weeks of

receipt of such application. Nodal agency may

schedule a call or a meeting with the startup

entity, if it deems necessary.

16.5(b)Procedure for availing assistance

(i)

The applicant, once recognised, shall apply

in the application form specified as perform

ST1 on the web portal for availing

assistance for setting of start-up.

Sr. no.(ii) remains same.

(iii) The Nodal agency will review the

application of the startup entity and will

share its review within next 2 weeks of

receipt of such application. Nodal agency

may schedule a call or a meeting with the

startup entity, if it deems necessary.

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(viii) Financial sanction with regard to the

concerned financial assistance will be

issued after the approval by the State Level

Committee for the fiscal incentives to the

registered startups.

(ix) All the financial assistance approved by the

State Level committee shall be disbursed

according to the procedure defined in the

Detailed Schemes and Operational

Guidelines- 2018.

Lease Rental

Yearly on

Reimbursement

Subsidy

submission

on actual subject

of proof of

to ceiling.

payment.

Sr. no.(iv) to (vii) remains same.

(viii) The interest subsidy shall be sanctioned and

disbursed according to the procedure

mentioned at clause 13.1. For the lease

rental subsidy, the eligible entrepreneurs

shall submit their applications on the

prescribed Form - Start. For availing seed

funding the eligible start-up will submit their

application on the prescribed Form SF.

Addition of Sr. no. (ix)under Clause

16.5 (b).

16.6

Sr. No.2 of the Table under heading

Disbursement Schedule the word

'Quarterly' has been replaced by 'Yearly'.

ALOK SHEKHAR, IAS

Principal Secretary to Govt. of Punjab,

The 14th September, 2020

Department of Industries and Commerce.

2107/9-2020/Pb. Govt. Press, S.A.S. Nagar