Why is it in the news?
Government revised Startup Recognition Framework under Startup India Action Plan.
Deep Tech startups will share only ~10% in 2024, prompting reforms.
Category: Economy
Important Points:
● Introduction of dedicated “Deep Tech Startup” category
● Deep tech requires high R&D expenditure and novel IP ownership
● DPIIT final authority for startup recognition
● Turnover limit doubled from ₹100 crore to ₹200 crore (10 years)
● Deep tech recognition extended to 20 years; turnover cap ₹300 crore
● Multi-State and State Cooperative Societies now eligible
● Excludes speculative/non-productive asset investments
● Businesses formed by splitting/reconstruction not eligible
● Fund of Funds corpus ₹10,000 crore via SEBI-registered AIFs
● India has over 2 lakh recognised startups and 120+ unicorns