Government rules, regulations, acts introduced to support startups
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The policy defines that the cost of filing and prosecution of patent application will be reimbursed to the incubated startup companies subject to a limit of Rs. 2 lakh (0.2 million) per Indian patent awarded. For awarded foreign patents on a single subject matter, up to Rs. 10 lakh (1 Million) would be reimbursed. The reimbursement will be done in 2 stages, i.e., 75% after the patent is filed and the balance 25% after the patent is granted. The detailed guidelines for this are provided below:
Applicant should have filed for the patent for which reimbursement is being claimed. The Applicant may claim reimbursement towards fees paid to the concerned authority and legal charges, if any (drafting/consultation). The reimbursement shall be made on a one-time basis and shall be availed only once for the particular patent application. Applicant to mandatorily fill and submit relevant documents along with Annexure I – Form A and B in the prescribed format.
Applicant should have already been granted the patent for which reimbursement is claimed and should have already claimed reimbursement of costs incurred post filing of the patent under clause 13.1.5(1). Applicant may claim reimbursement towards fees paid to the concerned authority and legal charges, if any (drafting/consultation). Applicant to mandatorily fill and submit relevant documents along with Annexure I – Form A and B in the prescribed format. Applicant shall not be entitled to reimbursement under this provision in case Applicant has received reimbursement of Rs. 2 Lakhs for a domestic patent filing and/or Rs. 10 Lakh for foreign patent filing
Applicant should have been granted the patent for which reimbursement is being claimed and should not have claimed reimbursement for the same previously. Applicant may claim reimbursement towards fees paid to the concerned authority and legal charges, if any (drafting/consultation). Applicant to mandatorily fill and submit relevant documents along with Annexure I – Form A, B and C in the prescribed format. Applicant shall be eligible to reimbursement up to Rs. 2 Lakh for an Indian Patent and up to Rs. 10 Lakh for a foreign Patent.
On receipt of all necessary documents, KITS will duly analyze the application for eligibility. Post review & assessment of the Application, KITS will arrive at the quantum of reimbursement due and payable. The Managing Director, KBITS will finally sanction the eligible amount for reimbursement and the decision shall be deemed final in this regard. Reimbursement amount will be released / disbursed on the seniority basis depending upon the Budget allotment of the State Government.
Government shall provide reimbursements of 30% of the actual costs including travel incurred in international marketing through trade show participation. This incentive will be subject to a maximum of Rs.5 Lakhs per year per company. To avail these benefits from the Government of Karnataka, the startups have to follow due processes and ensure their eligibility.
If reimbursement is claimed against Advertisements / PR in International Print / Broadcast / Online Publications / Google AdWords / social media marketing content, the following need to be furnished: a. Photocopies/Scanned documents of publicity material. b. Web links c. Invoice of the payment towards the service providers and payment proofs Copy of Invoices and Purchase Orders for all Marketing Expenses claimed along with at least one supporting document for each expense. In this regard, the company/unit has to produce proof of stay at the location (hotel bills) along with air travel (air tickets and boarding pass sealed and stamped by airport security) and copy of the passport first and last page and stamped visa. On receipt of all necessary documents, KITS will duly analyze the Application for eligibility. Post review & assessment of the Application, KITS will arrive at the quantum of reimbursement due and payable. The Managing Director, KITS will finally sanction the eligible amount for reimbursement and the decision shall be deemed final in this regard.
The startups will be eligible for reimbursement of VAT/CST on any goods that are supplied to the incubatee. To avail these benefits under the Startup Policy, the following eligibility criteria have to be met:
After GST implementation from 01/07/2017, please refer to below.
The incentives for claiming reimbursement against net GST, with respect to purchase of goods made by incubatee physically incubated in GoK supported incubators is being referred to in this section. To claim the benefits under this section of the Startup Policy, the following eligibility criteria have to be met:
The policy defines that the cost of filing and prosecution of patent application will be reimbursed to the incubated startup companies subject to a limit of Rs. 2 lakh (0.2 million) per Indian patent awarded. For awarded foreign patents on a single subject matter, up to Rs. 10 lakh (1 Million) would be reimbursed. The reimbursement will be done in 2 stages, i.e., 75% after the patent is filed and the balance 25% after the patent is granted. The detailed guidelines for this are provided below:
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