Startup idea

suneetha Jain (Querist) 30 May 2020 This query is : Resolved
Sir, I have an idea regarding starting a startup. I am planning to start it in the coming few months.It is related to services. (Example: Zomato,Ola Cabs )My Queries are: 1 Can I have patent or copyright of it ?? 2. Can I get any loan from Banks?? 3. Can I get any support for Government?? Please advise

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This discussion addresses a startup idea focused on services, similar to Zomato or Ola Cabs. The author inquired about obtaining patents or copyrights, securing bank loans, and accessing government support. The advice confirms that unique ideas can be patented or copyrighted, MUDRA loans and other bank loans are available for financially viable projects, and various government support schemes exist for startups, including those in the service sector which are now included under MSME definitions.

Rajendra K Goyal (Expert) 30 May 2020
You said:
1 Can I have patent or copyright of it ??

Reply:

If the idea / work is unique and new, fulfills basic requirements, it can get patent / copyright. Contact Registrar office / professional helping to get it done.

You said:
2. Can I get any loan from Banks??

Reply:

MUDRA loan is available for startups. Loans from Bank is available otherwise also if the project is financially viable. Discuss with nearby Branch of Bank.

Rajendra K Goyal (Expert) 30 May 2020
You said:
3. Can I get any support for Government??

Reply:

What type of support you want to get?

Whether support regarding finance, technical, marketing, infrastructure, setup or otherwise required?

Can contact district Development agency / district industries center.

Raj Kumar Makkad (Expert) 30 May 2020
The answer of all of your three queries is yes. You can start any business, if requirement arises, can get it registered, can obtain bank loan and further can get help if the same comes within the parameters.

As you have not disclosed any of your business and have only asked presumtive questions so nothing concrete/definite may be told to you.

Rajendra K Goyal (Expert) 31 May 2020
Government has come out with special schemes for a startup in addition to normal business loans. Go through the scheme and avail the facility.

Dr J C Vashista (Expert) 01 June 2020
If you have decided to start a new MSME / business, appproach local Bank with relevant details of your proposal for loan and some guidance.

Rajendra K Goyal (Expert) 01 June 2020
Recently Govt. has increased the scope / liberalized the terms for MSME loan, you can proceed, contact your Banker / District Industries Center.

MUDRA loan is also attractive offer for business loan

You can avail such loan with enjoying facilities in offer for startup projects.

Raj Kumar Makkad (Expert) 01 June 2020
Have we experts confirmed that the author is going to start MSME? Guide if I have missed those lines where it is so mentioned so that I may also add something.

Rajendra K Goyal (Expert) 02 June 2020
Enterprises which are providing services are also covered under the definition of MSME which has two parts, Manufacturing Enterprises and Service Enterprises.

Raj Kumar Makkad (Expert) 02 June 2020
As per the new definition, micro units can have up to Rs 1 crore investments and turnover of up to Rs 5 crore while businesses with an investment of up to Rs 10 crore and turnover of up to Rs 50 crore will be classified as small.

Rajendra K Goyal (Expert) 02 June 2020
Service sector is included in the definition of MSME apart from Manufacturing. Hence start up under service sector is also included in MSME.

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