A New Form Of Business Entity Is Needed To Promote: Fill & Download for Free

So You Want To Start a Marijuana Business? Here are some General Factors You Need To Consider.Like any other startup company in order to succeed they require market differentiation, investment, and competent management. Creating a marijuana start up business is not too much different. That said, the marijuana industry can be a maze of shifting regulations depending on the state you want to start your business. Here are some of the following basic steps when starting your marijuana business:You need to write a business plan that outlines your goals, startup costs, timelines and milestones, finances, and other key information. A well-crafted business plan will go a long way when you are seeking third party investors.Find a Location: Regardless of state licensing requirements, local and/or county zoning laws and regulations (not to mention real estate costs) will largely determine where you locate your cannabis-oriented business.Create a business entity. All companies need to form a business entity that is right for you i.e. LLC, Corporation et cetera.Obtain License(s): As is typical with government licensing process, you must obtain approval for any applicable licenses which typically takes several months—or longer.Promote Your Business: Like any business you need to market your product in order to attract customers.Your company will need capital to get off the ground. Finding investors is no easy task especially since technically they are investing in a venture that is still illegal under federal law.Starting a marijuana business is a serious undertaking that requires extra patience, dedication, and a keen understanding of the complex regulations and legal shifts involved. I would suggest that you speak with an attorney about the specifics of your situation before making a decision. At LawTrades, our attorneys have experience in working with entrepreneurs who specialize in this new industry and have successfully helped other startup companies comply with the complex maze of business and regulatory hurdles you will face should you decide to move forward with your new business. Visit our website to talk to an experienced attorney who is familiar with these matters.

Well most people here have listed out the process for starting a company in India. I think you need the answer for how to register in 'Startup India' campaign of the Indian government. The following points shall cover your doubts.In addition, for a startup to be recognized as one,It must be an entity registered/incorporated as a:Private Limited Company under the Companies Act, 2013; orb. Registered Partnership firm under the Indian Partnership Act, 1932; orc. Limited Liability Partnership under the Limited Liability Partnership Act, 2008.Five years must not have elapsed from the date of incorporation/registration.Annual turnover (as defined in the Companies Act, 2013) in any preceding financial year must not exceed Rs. 25 crore.Startup must be working towards innovation, development, deployment or commercialisation of new products, processes or services driven by technology or intellectual property.The Startup must aim to develop and commercialise:a) a new product or service or process; orb) a significantly improved existing product or service or process that will create or add value for customers or workflow.The Startup must not merely be engaged in:developing products or services or processes which do not have potential for commercialisation; orb. undifferentiated products or services or processes; orc. products or services or processes with no or limited incremental value for customers or workflowThe Startup must not be formed by splitting up, or reconstruction, of a business already in existence.The Startup has obtained certification from the Inter-Ministerial Board, setup by DIPP to validate the innovative nature of the business, anda. be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an incubator established in a post-graduate college in India; orb. be supported by an incubator which is funded (in relation to the project) from GoI as part of any specified scheme to promote innovation; orc. be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an incubator recognized by GoI; ord. be funded by an Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network duly registered with SEBI* that endorses innovative nature of the business; ore. be funded by the Government of India as part of any specified scheme to promote innovation; orf. have a patent granted by the Indian Patent and Trademark Office in areas affiliated with the nature of business being promoted.* DIPP may publish a ‘negative’ list of funds which are not eligible for this initiative.One of the eligibility criteria states that “The product or service should be a new one or a significantly improved version of existing services or products.”Let’s take the example of startups who are engaged in creating and developing online marketplaces like Flipkart and Amazon. So a new startup engaged in the same field may not be eligible unless its product is significantly improved than what existing players provide.Another eligibility criteria states that the startup should get a recommendation letter from the recognized incubator cell or be recognized by the GoI or should be funded by recognized funds. Now this will be quite a task for startups.Source: Yourstory

To apply for the funding program you first must be an eligible 'Startup'.Start-up means:An entity, incorporated or registered in IndiaNot older than five years,Annual turnover does not exceeding INR 25 crore in any preceding financial year,Working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.It is important to note following points:Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence.Provided also that an entity shall cease to be a Start-up if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 5 years from the date of incorporation/ registration.Provided further that a Start-up shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.In order for a “Startup” to be considered eligible, the Startup shouldbe supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an Incubator established in a post-graduate college in India; orbe supported by an incubator which is funded (in relation to the project) from GoI as part of any specified scheme to promote innovation; orbe supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an Incubator recognized by GoI; orbe funded by an Incubation Fund/Angel Fund/ Private Equity Fund/ Accelerator/Angel Network duly registered with SEBI* that endorses innovative nature of the business; orbe funded by GoI as part of any specified scheme to promote innovation; orhave a patent granted by the Indian Patent and Trademark Office in areas affiliated with the nature of business being promoted.(DIPP may publish a ‘negative’ list of funds which are not eligible for this initiative)Funding the Startup under the schemeStartup India HubAn all-India hub will be created as a single contact point for start-up foundations in India, which will help the entrepreneurs to exchange knowledge and access financial aid.Rollout of Mobile App and Portal for fund application and other purposes.An online portal, in the shape of a mobile application, will be launched on April 1 to serve as the single platform for Startups for interacting with Government and Regulatory Institutions for all business needs and information exchange among various stakeholders.Providing Funding Support through a ‘Fund of Funds’ with a Corpus of INR 10,000 croreGovernment will set up a fund with an initial corpus of INR 2,500 crore and a total corpus of INR 10,000 crore over a period 4 years (i.e. INR 2,500 crore per year).The Fund will be in the nature of Fund of Funds, which means that it will not invest directly into Startups, but shall participate in the capital of SEBI registered Venture Funds.Key features of the Fund of Funds are highlighted below:The Fund of Funds shall be managed by a Board with private professionals drawn from industry bodies, academia, and successful StartupsLife Insurance Corporation (LIC) shall be a co-investor in the Fund of FundsThe Fund of Funds shall contribute to a maximum of 50% of the stated daughter fund size.In order to be able to receive the contribution, the daughter fund should have already raised the balance 50% or more of the stated fund size as the case maybe.Credit Guarantee Fund for StartupsIn order to overcome traditional Indian stigma associated with failure of Startup enterprises in general and to encourage experimentation among Startup entrepreneurs through disruptive business models, credit guarantee comfort would help flow of Venture Debt from the formal Banking System.Debt funding to Startups is also perceived as high risk area and to encourage Banks and other Lenders to provide Venture Debts to Startups, Credit guarantee mechanism through National Credit Guarantee Trust Company (NCGTC)/ SIDBI is being envisaged with a budgetary Corpus of INR 500 crore per year for the next four years.Organizing Startup Fests for Showcasing Innovation and Providing a Collaboration PlatformTo bolster the Startup ecosystem in India, the Government is proposing to introduce Startup fests at national and international stages.These fests would provide a platform to Startups in India to showcase their ideas and work with a larger audience comprising of potential investors, mentorsGovernment proposes to:Hold one fest at the national level annually to enable all the stakeholders of Startup ecosystem to come together on one platform.Hold one fest at the international level annually in an international city known for its Startup ecosystem.The fests shall have activities such as sessions to connect with investors, mentors, incubators and Startups, showcasing innovations, exhibitions and product launches, pitches by Startups, mentoring sessions, curated Startup walks, talks by disruptive innovators, competitions such as Hackathon, Makerspace, etc., announcements of rewards and recognitions, panels and conferences with industry leaders, etc.Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilization (SETU) ProgramEntrepreneurship promotion through Self-Employment and Talent Utilization (SETU), wherein innovators would be supported and mentored to become successful entrepreneursEntrepreneurship promotion:• Establishment of sector specific Incubators including in PPP mode• Establishment of 500 Tinkering Labs• Pre-incubation training to potential entrepreneurs in various technology areas in collaboration with various academic institutions having expertise in the field• Strengthening of incubation facilities in existing incubators and mentoring of Startups• Seed funding to potentially successful and high growthStartups Innovation promotion:• Institution of Innovation Awards (3 per state/UT) and 3 National level awards• Providing support to State Innovation Councils for awareness creation and organizing state level workshops/conferences• Launch of Grand Innovation Challenge Awards for finding ultra-low cost solutions to India’s pressing and intractable problemsHarnessing Private Sector Expertise for Incubator SetupTo ensure professional management of Government sponsored / funded incubators, Government will create a policy and framework for setting-up of incubators across the country in public private partnership.Government shall encourage setting up of;• 35 new incubators in existing institutions. Funding support of 40% (subject to a maximum of INR 10 crore) shall be provided by Central Government for establishment of new incubators for which 40% funding by the respective State Government and 20% funding by the private sector has been committed. The incubator shall be managed and operated by the private sector.• 35 new private sector incubators. A grant of 50% (subject to a maximum of INR 10 crore) shall be provided by Central Government for incubators established by private sector in existing institutions. The incubator shall be managed and operated by the private sector.The funding for setting up of the incubators shall be provided by NITI Aayog as part of Atal Innovation Mission.Participating departments and agencies for setting up of new incubators shall be Department of Science and Technology, Department of Biotechnology, Department of Electronics and Information Technology, Ministry of Micro, Small and Medium Enterprises, Department of Higher Education, Department of Industrial Policy and Promotion and NITI Aayog.Building Innovation Centres at National InstitutesIn order to augment the incubation and R&D efforts in the country, the Government will set up/ scale up 31 centres (to provide facilities for over 1,200 new Startups) of innovation and entrepreneurship at national institutes, including:Setting-up 13 Startup centres: Annual funding support of INR 50 lakhs (shared 50:50 by DST and MHRD) shall be provided for three years for encouraging student driven Startups from the host institute.Setting-up/ Scaling-up 18 Technology Business Incubators (TBIs) at NITs/IITs/IIMs etc. as per funding model of DST with MHRD providing smooth approvals for TBI to have separate society and built up spaceSetting up of 7 New Research ParksThe Government shall set up 7 new Research Parks in institutes indicated below with an initial investment of INR 100 crore each. The Research Parks shall be modeled based on the Research Park setup at IIT Madras.IIT Guwahati, IIT Hyderabad, IIT Kanpur, IIT Kharagpur, IISc Bangalore, IIT Gandhinagar and IIT Delhi.Funding Startups in the Biotechnology SectorIn order to promote Startups in the sector, The Department of Biotechnology shall be implementing the following measures along with its Public Sector Undertaking Biotechnology Research Assistance Council (BIRAC):Bio-incubators, Seed Fund and Equity Funding:Biotech Equity Fund – BIRAC AcE Fund in partnership with National and Global Equity Funds (Bharat Fund, India Aspiration Fund amongst others) will provide financial assistance to young Biotech Startups.Encouraging and leveraging global partnerships:Funding of Innovation Focused Programs for StudentsIn order to promote research and innovation among young students, the Government shall implement the following measures:Innovation Core program shall be initiated to target school kids with an outreach to 10 lakh innovations from 5 lakh schools.One lakh innovations would be targeted and the top 10,000 innovations would be provided prototyping support. Of these 10,000 innovations, the best 100 would be shortlisted and showcased at the Annual Festival of Innovations in the Rashtrapati Bhavan.NIDHI: A Grand Challenge program (“National Initiative for Developing and Harnessing Innovations) shall be instituted through Innovation and Entrepreneurship Development Centres (IEDCs) to support and award INR 10 lakhs to 20 student innovations from IEDCs.Uchhattar Avishkar Yojana: A joint MHRD-DST scheme which has earmarked INR 250 crore per annum towards fostering “very high quality” research amongst IIT students.The funding towards this research will be 50% contribution from MHRD, 25% from DST and 25% from industry. This format has been devised to ensure that the research and funding gets utilized bearing in mind its relevance to the industry. Each project may amount to INR 5 crore only. This scheme will initially apply to IITs onlyAnnual Incubator Grand ChallengeThe Government is proposing to make forward looking investments towards building world class incubators.In its first phase, the aim is to establish 10 such incubators. To enable this, GoI shall identify and select 10 incubators who have the potential to become world class.These incubators would be given INR 10 crore each as financial assistance which may be used for ramping up the quality of service offerings.Legal Support and Fast-tracking Patent Examination at Lower CostsThe system will promote awareness and adoption of the Intellectual Property Rights (IPRs) by the start-up foundations.The scheme for Startup Intellectual Property Protection (SIPP) shall facilitate filing of Patents, Trademarks and Designs by innovative Startups. Various measures being taken in this regard include:Fast-tracking of Startup patent applicationPanel of facilitators to assist in filing of IP applications.The Central Government shall bear the entire fees of the facilitators for any number of patents, trademarks or designs that a Startup may file, and the Startups shall bear the cost of only the statutory fees payable.Rebate on filing of application. Startups shall be provided an 80% rebate in filing of patents vis-a-vis other companies.The scheme is being launched initially on a pilot basis for 1 year; based on the experience gained, further steps shall be taken.Read more onhttps://www.kpmg.com/in/en/services/tax/flashnews/kpmg-flash-news-action-plan-on-'startup-%20india'-1.pdfhttps://www.pwc.in/assets/pdfs/news-alert-tax/2016/pwc_india_tax_news_alert_18_jan_2016_start-up_action_plan.pdfhttp://www.iisermohali.ac.in/StartupIndia_ActionPlan_16January2016.pdf