Fuelling Entrepreneurship the Story of Technology Business Incubation in India, 2014
FUELLING ENTREPRENEURSHIP THE STORY OF TECHNOLOGY BUSINESS INCUBATION IN INDIA COPYRIGHT: National Science and Technology Entrepreneurship Development Board (NSTEDB) PRODUCED BY: NSTEDB, Department of Science & Technology (DST), GoI & Indian STEP and Business Incubator Association (ISBA) DESIGNED BY: RBC Worldwide, Hyderabad, India www.rbcworldwide.com PRINTED AT: Kala Jyothi Process Pvt. Ltd., Hyderabad, India www.kalajyothi.com DISCLAIMER The National Science & Technology Entrepreneurship Board, Department of Science & Technology, Government of India through the Indian STEPs and Business Incubators Association, used their best efforts in collecting and preparing the information published herein. The data and analysis are indicative and there are no warranties about the accuracy. NSTEDB and ISBA hereby disclaim, any and all liability for any loss or damage caused by errors or omissions, whether such errors or omissions resulted from negligence, accident or other causes. The contents do not necessarily reflect the official view or policies of the Department of Science & Technology, Government of India or any other Government Department. This report does not constitute a standard, specification or regulation. Incubators play an important role in mentoring new businesses which start as a small or medium business. The new Companies Bill obliges companies to spend 2 percent of average net profits under Corporate Social Responsibility. I am glad to announce that the Ministry of Corporate Affairs will notify that funds provided to technology incubators located within academic institutions and approved by the Ministry of Science and Technology or Ministry of MSME will qualify as CSR expenditure. In order to encourage innovation, Point No.: 76 Section: IV I propose to exempt from Service Tax, Investment, Infrastructure & Industry all services provided by Technology Budget Speech of Finance Minister February 28, 2013 Business Incubators.
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