A Magazine for Startups and Young Entrepreneurs. STARTUP CITY India, an autonomous body of The CEO Magazine, is India’s leading monthly business magazine for startups and young entrepreneurs printed and published from New Delhi. STARTUP CITY strives to promote startup culture, entrepreneurial activities and innovative business concepts by making an open platform for exchanging views, opinion..
Latest Google Update: Google Drive will Stop Syncing Google Photos
has been the all-in-one storage solution for a long time. Here, we can collect
all type of office files and Google Docs and photos and files of all varieties.
But with the new update, from 10 July Google Photos will no longer sync to
Google Drive. In other words, Google is going to uncouple Google Photos from
Google Drive, and the two storage services will stop automatically keeping each
other’s photos in sync.
In the last
few years, Google Drive has worked and come up with excellent solutions to
manage our photos securely stowed and accessible in both apps. Now, it has come
up with its latest version of the Google Drive app, under which Google Photos
sync integration appears to be stopping.
What will Change?
Photos do not sync to Google Drive, if you add or delete files in Photos, they
won’t be automatically added or deleted in Drive.
What Google Says
that users were confused by the link between Photos and Drive. The update is
aimed at supporting “prevent unintentional deletions of items across the
platform.” For example, earlier, some users were confused about the fact that
removing a copy of a photo in Photos also means that the picture is deleted in
Drive, and vice versa. We are expecting
this simplified experience is simpler for users to understand and operate.
What about the already Uploaded Images
You do not
need to worry about the photographs that you have uploaded to Google Drive or
Google Photos prior to the change. They will remain on both services, but will
no longer update automatically. Just like new files, that also means if you
wish to delete those photos, you will have to remove them from both sources.
Alternative after the Update
With this new update, Google is also offering
a feature called “Upload from Drive”. It will be accessible in Google
Photos and permit users to manually pick which photos and videos from Drive
they want to import into Google Photos. The content imported by this method
will be available individually across both products and without any link
between them. It means that the items copied in the Original Quality option
will remain to be counted towards your existing storage quota in Google Drive
is going to be controversial. Photos automatically syncs to Google Drive is a favourite
feature for many people as it makes it very easy to organize photos. But Of
course, the change will avoid some confusion. With this new update, company is
focusing on clear up any confusion between the two services. Presently, Google
Photos automatically syncs its contents to Google Drive. The removal of this
feature will allow for granular control when managing content across both Drive
Join World Yoga Day to include yoga in your life and begin your
journey to a better life
Day of Yoga or World Yoga Day is an annual event; it is celebrated worldwide on
June 21 since its inception in 2015. It is a day to recognize the benefits of
yoga and dedicate ourselves psychically, physically, and emotionally for
healthful living and at the same time attach with friends and society members
over the shared practice.
wondrous that 21st June marks this important event in human history. 21 June is
the day to pay tribute to the Sadgurus. This is also the day of the summer
solstice. It is the longest day of the year in the Northern Hemisphere and also
holds special importance in many parts of the world.
How to Celebrate
way of celebrating this day is to participate. World Yoga Day takes place in
various organizations, schools, colleges, and other places so, locate the one
nearest to you and assure your participation.
Create a difference in your life and get rid of your mental stress and
physical health problems through yoga.
Objectives of Yoga Day
The main goal of celebrating the
International Day of Yoga is to increase awareness about yoga and encourage
people to participate in this practice.
International Yoga Day brings the habit of
meditation in youth generation. And, it supports them to can enjoy more peace
of mind and self-awareness.
It educates people about the diverse methods
of overcoming stress in a natural way without taking any artificial medicine.
It also focuses on reducing the rate of
health-challenging diseases across the world.
It motivates people to stay away from
unhealthy practices and promote and respect the good practices to make health
People know and understand their rights of
good health and a healthy lifestyle and enjoy the highest standard of physical
and mental health.
Yoga practice brings people from different
background, irrespective of caste, religion or language on a single platform.
It leads to stronger bonds between them and helps to promote the feeling of
communal harmony and create a conjugal atmosphere for global peace.
All in all,
World Yoga Day aims to bring assorted communities around the globe together
through the practice of yoga and inspire them to eliminate all types of negativity
and health issues from their lives and get command over their mental as well as
physical health that acts as the major hindrance in the path of
Yoga shows us the path to Freedom. By following it regularly we
can release ourselves from Pain, Stress, and Loneliness and move towards the
path to pleasure!
Father’s Day: a special day to express our gratitude to our
a multifarious role from a hero to role-model to the best buddy. They are like
angels sent from heaven; they stand by their kids in all moments. To
acknowledge this precious and unconditional affection, every year Father’s Day
is celebrated in the third week of June. This year, it will be celebrated on
June 16 in India.
love and care for his children know no limit and this pure dedication gives
immense strength to the kids. To keep the paternal bond strong and lasting,
people leave no stone unturned to make this day memorable. Father’s Day is one
of the most important days in our life; it allows us to express our thanks and
appreciations to our father or father figures, grandfather, stepfather or elder
brother. Generally, families gather to celebrate this day and make food around
this theme. As a good gesture, various schools and social institutions promote
activities so that children can understand the significance of their father’s
role in their lives.
There is no
such global standard for the celebration of Father’s Day. It is just a way of
showing our father that in his time of need, his son and/or daughter will
forever be by his side in every situation. This day, children gift their father
something that he likes or are useful for him.
Many people manage time and spend the entire day with their Dads while
others plan the day a memorable trip with him.
The date of
Father’s Day varies from one country to another. Countries like India, USA, UK,
Japan, Pakistan, and others celebrate this on the Third Sunday in June, while
several countries have their own special dates for it.
Here is the list of dates
Sunday, June 21, 2020
Sunday, June 20, 2021
2022 Sunday, June 19, 2022
Sunday, June 18, 2023
Sunday, June 16, 2024
Sunday, June 15, 2025
beautiful memories on this day with your superman. You can easily do so by
either gifting them a present or spending quality time with him.
Happy Father’s Day to all heroes and role models!!!
Stand Up India scheme: an initiative to empower SC, ST and women
India scheme was launched to shore up SC, ST, and women entrepreneurs in
building their business and getting a financial support from banks for the
same. This project is a part of the Startup India Action Plan 2016 to encourage
startups and new businesses in the country. Here, the enterprises belong to
trading, manufacturing, or service sectors can apply for it.
expected that this scheme will benefit approx. 2.5 lakh borrowers who can avail
required financial support under this scheme through 1.25 lakhs bank branches
located across the country. Here, unlike other financial schemes, banks can
request for collateral security and can also provide the loan under the CGTMSE
scheme without any collateral security like other schemes. The decision of
collateral security is completely depends on banks, they decide according to
the borrower profile.
scheme, entrepreneurs can avail loan from Rs. 10 lakh to Rs. 1 crore.
The rate of
interest should be the lowest applicable rate of the bank for that category not
exceeding the base rate of the bank + 3% + tenor premium.
The Stand Up
India loan amount will cover almost 75% of the total project cost. The
entrepreneur is expected to commit at least 10% of the project costs as per the
only condition that the person availing loan under this scheme like SC, ST or
woman should hold at least 51 percent of the shareholding and control in the
The loan is
repayable in 7 years and holds 18 months of the moratorium period.
The Objective of the Stand-Up India scheme
of initiating this scheme is to influence and extend the institutional credit
system to the undeserved strata of society comprising SC and ST, and women
entrepreneurs. Through this scheme, the Indian Government is creating such
opportunities that make job seekers to become job creators. Presently, Stand Up
India Scheme applies to all scheduled commercial bank branches in India.
suitable for SC/ST and/or woman entrepreneurs, above 18 years of age.
business loan is only available for a Greenfield project. In this context,
Greenfield means the first time venture of the beneficiary in the manufacturing
or services or trading sector.
Note: Borrower should not be in default to any
Business address proof
Partnership Deed of the partners
Assets and liabilities statement and income
Rent Agreement (if applied)
Photocopies of lease deeds/ title deeds
Certificate of incorporation from Registrar
Of Companies to establishment
Certificates of SC/ST
How to Apply
The loan can
be availed under the scheme in three ways-
• Apply at the bank branch
• Apply through the Stand-Up India portal
• Avail the loan with the help of Lead
District Manager (LDM)
Credit Link Capital Subsidy Scheme for Technology Upgradation to
The Credit Linked Capital Subsidy Scheme
(CLCSS) was initiated on 1st October 2000 to boost the competitiveness of
MSMEs. It is performed by blending continuous technological up gradation
efforts with the Credit Linked Capital Subsidy (CLCS), hand-holding zero defect
zero effect manufacturing (ZED), advancing the productivity by waste reduction,
design intervention, cloud computing, facilitation of intellectual property,
and nourishing unprecedented concepts.
provisions have been introduced in this program to encourage entrepreneurship
for SC, ST, women NER, Hill States, Island Territories, and the Aspirational
Districts. As per the rule, the subsidy shall be applicable also for financing
in acquisition and replacement of plant and machinery and all kind of
technology up-gradation. The scheme is going to be demand-driven though; its
coverage has been made more comprehensive.
CLCSS gives a
capital subsidy of 15 percent on institutional finance availed by them for the induction
of well-established and improved technology.
Maximum limit of
eligible loan for calculation of subsidy under the Scheme is Rs.100.00 lakh.
Scheme facilitates subsidy to 51 sub-sectors/products comprising Khadi and
Village Industries. As the Scheme advanced, the list of products/sub-sectors
has also been extended by enlisting modern technologies and products.
Today, the Scheme
has been implemented by 12 nodal banks including SIDBI and NABARD. Except for
these financial institutions, all the banks would consider proposals only in
respect of credit approved by their respective branches.
Objective of CLCSS
The objective of the Scheme is to facilitate
technological advancement in MSMEs by offering an upfront capital subsidy.
It also focuses on enhancing their
plant & machinery with state-of-the-art technology, with or without
Credit Linked Capital Subsidy Scheme
becomes the foundation for those MSEs which have set up their facilities with
appropriate eligibility and proven technology duly approved under scheme
The Scheme is entirely demand-drive
without any upper limit on overall annual spending on the disbursal of the subsidy.
How to Apply
There is an online process to apply for this
In order to claim subsidy under CLCSS, MSEs
need to apply online through Primary Lending Institutions (PLIs), from where
they can avail term loan.
After the submission of application, the
completed application is uploaded by the PLI through Online Application and
Tracking System to the associated Nodal Agency which, in turn, urges the
application online to Office of DC (MSME) for releasing the subsidy.
Once application is processed, and it becomes
the subject to availability of funds, due approval is granted from the
Competent Authority with the concurrence of Internal Finance Wing, after which
funds are allotted to Nodal Agencies.
are then assigned by the Nodal Agencies to the PLIs where the account of the
MSE is conducted.
NSIC Subsidy: fostering the growth of micro, small and medium
Small Industries Corporation works to promote the growth of micro, small and
medium enterprises in India. It offers a set of specially tailored scheme to
enhance competitiveness. Besides, it also provides integrated support services
for Marketing, Technology, Finance as well as other Support services. NSIC is
operating across the nation with numerous offices and Technical Centres in the
Country. It has also set up Training cum Incubation Centre to train
entrepreneurs to be ready for technological growth.
NSIC takes to carry forward its vision to support small enterprises with an
assortment of specially tailored schemes that are created to take businesses
ahead of the competition and in an advantageous position. The scheme includes
everything that is important for business growth like facilitating marketing
support, credit support, technology support, and many more. Overall, NSIC
delivers a variety of packages of services to tackle the needs of the MSME
sector. Here there are some points showing how NSIC benefits businesses.
Advantages of Membership in NSIC
Get Interactive Database Specially Designed
Global & National Tender Notices
Self-web development tool
Centralized mail system
Payment Gateway for membership subscription
Famous Products Section
Unlimited global Trade Leads
Trust Seal of NSIC
Online Buying / Selling
Multiple payment Option
MSME Web Store
Multiple Language Support
Call Centre Support & Live Chat
scheme, manufacturing and service enterprises who have MSME or Udyog Aadhaar
registration can also obtain NSIC registration. To obtain registration,
enterprises need to apply online or by submitting an application at one of the
submit, the NSIC forwards the application to a zonal, branch or sub-branch
office nearest to the applicant for completing the technical inspection of the
unit and forwarding of recommendation for NSIC registration. After receiving
report, NSIC grants you to do registration to the MSME unit.
Acknowledgement Copy of MSME registration
Self-attested copy of ownership documents
Declaration from the Partner or Director
whether or not they have any link with large scale unit(s)
List of raw materials as well as finished products
available in the stock
Copy of BIS license
List of Employees
The item for which registration needed with
Write-up on quality control measures
Complete information of quality control
equipment and testing facility
Copy of Type Test Report
Electricity Bill Copy (recent)
Audited Balance Sheet
Complete Details of Trading Account including
Profit & Loss
Statement of Results of Operation for the
last 3 years
Bankers’ Report on the financial status of
the applicant firm
Credit Guarantee Fund Scheme: elevating the entrepreneurial
ecosystem in India
Guarantee Funds Trust for Micro and Small Enterprises is one of the major
schemes inaugurated by the Indian government to elevate the entrepreneurial
ecosystem in India. It is was started in August 2000 by the Ministry of Medium,
Small and Micro Enterprises (MSME) in cooperation with the Small Industries
Development Bank of India (SIDBI). By this program, the ministry offers
collateral-free credit to the micro and small enterprise sector. For the
implementation of the program, the Ministry of Micro, Small and Medium
Enterprises, GOI and SIDBI established a Trust called CGTMSE for Micro and
provides a guarantee to the financial institutions up to a certain limit for
all dealings done by them to the medium, small, and micro sectors. This
initiative enables banks and other lending institutions to grant funds to
raising entrepreneurs without demanding for security or third-party guarantees.
CGTMSE is one of the effective provisions that support small Indian businessmen
to flourish in a competing environment. As the uncertainty of granting a bank
loan without any collateral is a fundamental factor for all banks; the purpose
of CGTMSE is to encourage these institutions to achieve their lending goals to
the MSME market without any upsets.
Extent of CGTMSE
The scope of
CGTMSE is up to 80% for –
1. All Micro
and small enterprise which is administered and regulated by female
2. All credits
are provided to the North-eastern states of India including Sikkim.
the new enterprises both are eligible to be covered under the schemes who are
involved in the process of:
• Manufacturing activity
• Service activity
• It is now available for selected NBFC’s
Objective of the Scheme
aim of the scheme is to transform the dreams of entrepreneurs for setting up
their own business into actuality. It directs on establishing a solid credit
relief system that will encourage a better credit flow to the MSME sector.
How to avail the loan under this scheme?
procedure to opt loan for this scheme is presented below:
of all, create a Business Plan including the complete details of your business.
Your blueprint should be such that it defines out the viability of the project.
decide which lender bank to approach for the loan and submit the application
and your business model there.
bank will go through your application and business model and validate all
affirmation, the bank will forward the application to the CGFTMSE Fund where
the application will be viewed again. If it is accepted the CGFTMSE will command
the bank to release fund for the business.
SMILE: a scheme, specially launched for MSMEs to empower them with
in India Loan for Enterprises (SMILE) Scheme was launched to carry forward the
India Government’s ‘Make in India’ campaign and shore up MSMEs to associate
with the campaign. The focal point of SIDBI incorporates micro, small, and
medium enterprises (MSME). It is expected that this scheme would benefit around
13,000 businesses, with employment for almost 2 lakh persons.
Soft Loan – In the Nature of the Quasi
10% of the
project cost, maximum Rs.20 lakh
15% of the project cost, maximum of Rs.30
lakhs for SC, ST, and Persons with disability and Women
Rate of Interest
years: 9.15% to 9.35% per annum
onwards: 11.70% – 12.70% per annum
Term Loan – On Relatively Soft Terms
Rs.50 lakh for new enterprises
lakh for existing enterprises
Rate of Interest
years: 9.45% to 9.95% per annum
onwards: 11.70% to 12.70% per annum
Products under SMILE
(SIDBI Make in India Soft Loan Fund for MSME)
Equipment Finance (SEF)
under Partnership with OEM (Original Equipment Manufacturer)
Capital (Cash Credit)
Trader Finance Scheme (STFS)
Lifecycle along with SIDBI’s interventions
of Funds for Start-ups
through Banks, NBFCs, and SFBs
to Small Finance Banks (SFB)
Development Department (MLDD)
scheme focuses on 25 sectors with an emphasis on financing smaller enterprises
within the MSME sector. Some of them are given below:
Bio-Technology and Chemicals
Electrical Machinery and Electronic Systems
Media & Entertainment
IT and BPM
Leather and Mining
Oil & Gas
Ports & Shipping
Roads & Highways
Space and Thermal Power
Textiles & Garments
Tourism & Hospitality
goal of SMILE is to intensify the MSME sector by granting them financial
reinforcement. The bank supports MSME to
avail funding for the expansion, commercialization, and marketing of their
innovative technologies and merchandises.
mainly targets new enterprises in the manufacturing and services sector.
that put the stress on financing smaller enterprises within MSME.
It is also
for the existing enterprises, looking for financial support for undertaking
expansion, technological growth, or other projects to give a boost to their
Some Best and Easiest Methods to Raise Fund for Startup Business
never be an obstacle in the way of pursuing your dreams. If you want to
initiate your own venture but don’t have funding, you can still get it off the
ground in various ways.
Here, we are presenting best ways to raise fund for startup:
is a new concept and has become a premier way for entrepreneurs to get their
startups funded. It incorporates taking a large group of people to uphold your
business with comparatively small amounts of money each. These sponsors will
not ever get a say in how your company is managed, depending on the platform,
and they collectively share a small risk each.
investors are somebody, who has surplus money and a keen interest to invest in
raising startups. They also operate in groups of networks to collectively
screen the proposals before financing. Apart from capital, they also provide
mentoring and advice. This method is mainly for companies that are on the
initial phase of growth, and they want to take more risks in investment for
capitalists manage funds professionally and invest in companies that have huge
potential. They normally invest in a company against equity and exit when there
is an IPO or an acquisition. VCs offers expertise, mentorship and performs as a
litmus test of where the company is moving. A venture capital investment is
fitting for small businesses that are ahead of the startup phase and already
are also a great option. If you approach them with a solid business plan, you
can avail good funding for your startup. But in the absence of collateral, it
is tough to secure a loan. Here, find a co-signer, someone with good credit who
agrees to be responsible for the debt if you default.
Startup Accelerators and Incubators
and incubators are also effective ways to take support for funding.
programs have a fixed frame of time, under which individual companies spend
anywhere from few weeks to few months working with a group of mentors to establish
their business and avoid difficulties. The accelerator aims to support the
starting of the business in a few months.
incubators work with corporations that are at an initial stage, and they do not
operate on the set schedule.
is like a greenhouse for young plants where they are getting perfect
environment to grow, while incubator selects the best seeds and gives them
better soil for germination and growth.
there are numerous methods of fundraising, but keep in mind that it isn’t any
magic, and contrary to the famous tale, nobody is waiting in the wings to throw
money at you just because you have a unique and exciting business concept.
Prepare a proper business plan before approaching for funds. Your business plan
must be well structured to carry the modus operandi, profit forecast and
estimated time of maturity.
Do you know the top Startup schemes started by Indian Government?]
What are the best business concepts that you can start with low investment?
Top 10 Startup Schemes, Started by Indian Government to Support
startup ecosystem is creating unicorns at double the speed than before, and the
nation is in the core of the startup boom. In the past few years, the Government
of India has launched numerous schemes, whose purpose is to support startups
and push them to grow. If you are a growing entrepreneur, then it is a perfect
time to kickstart your venture and converts your dream into reality.
Here is a list of some notable government schemes that offer
business loans for startups in India.
MUDRA is an organisation established by the
government of India to supply financal support to micro-business units. It
provides refinanced business loans, approved and disbursed through public
sector banks, private sector banks, co-operative societies, and others.
SMILE (SIDBI Make in India Soft Loan Fund for MSMEs)
fund was launched to give soft loans to MSMEs to meet the needed debt-equity
ratio for the establishment of new MSMEs and also to enable the growth for
India scheme is for women and for those entrepreneurs who belong to SC and ST
communities. It is available for Greenfield ventures in manufacturing, trading,
and service units, ranging from 10 lakh to 100 lakh.
National Small Industries Corporation Subsidy
subsidy is focused on funding small and medium enterprises who wish to enhance
their manufacturing quality and quantity. This scheme presents two kinds of
financial advantages – Raw Material Assistance and Marketing Assistance.
Credit Guarantee Scheme
is inaugurated to provide business loans to micro and small industries, with
zero collateral. Means, through this scheme, new and upcoming startups can
avail loans at highly subsidized interest rates without presenting any
Credit Link Capital Subsidy Scheme for Technology Upgradation
supports small businesses to upgrade their process by financing technological
up-gradation. The purpose of the CLCSS scheme is to reduce the cost of
production of goods and services for SMEs and allow them to remain price
competitive in local as well as international market.
Bank Credit Facilitation Scheme
Facilitation Scheme aims to meet the credit needs of MSME units. Through
syndication with different nationalized and private sector banks, the NSIC
arranges for credit support from banks without any cost to MSMEs.
Atal Incubation Centres
is headed by Atal Innovation Mission; it provides grant-in-aid of Rs. 10 Cr to
every AIC. It was set up under the NITI aayog with a vision to provide
financial aid and infrastructure assistance to different startups in sectors
including technology hardware, healthcare, defense, agriculture, and many more.
Sustainable Finance Scheme
assists the entire value chain of energy efficiency and sustainable development
projects and leads to significant improvements in EE/CP/sustainable development
in the MSMEs.
MSME Business Loans for Startups in 59 Minutes
is run by the government of India in collaboration with SIDBI to give unsecured
loans to businesses. You can borrow up to Rs.100 Lakh in term loans or working capital
loans as per your eligibility and feasibility in 59 minutes.
What are the Easiest Methods to Raise Fund for Startup Business in India?