Startup Ecosystem MCQ

Question 1

Consider the following statements:
1. Startup India Portal is an online platform for startups and entrepreneurs.
2. The portal is meant only for tax-return filing by recognised startups.
3. The portal connects stakeholders such as startups, investors and incubators on a single platform.
Which of the statements given above are correct?

Accepted Answer

Statement 1 is true: the official page calls the portal an online platform for startups and entrepreneurs. Statement 2 is false: the cited role is networking, resources and collaboration, not only tax filing. Statement 3 is true because the portal connects startups, investors and incubators on one platform.

Question 2

1. Section 80-IAC allows the eligible startup to choose any three consecutive assessment years out of ten years from incorporation for the profit-linked tax rebate.
2. A startup applying under Section 80-IAC must be recognised by DPIIT.
3. Section 80-IAC eligibility extends to startups incorporated before 1 April 2016 if they later obtain DPIIT recognition.
4. The 80-IAC eligibility text requires an Inter-Ministerial Board certificate.
Which of the statements given above are correct?

Accepted Answer

Statements 1, 2 and 4 are correct under the cited Income Tax help text. Statement 3 is incorrect because incorporation after 1 April 2016 is stated as a condition; later recognition does not erase the date condition.

Question 3

Consider the following statements about procurement, intellectual property and exit benefits linked to Startup India:
1. The Startup India intellectual-property benefit provides an 80 per cent rebate in patent filing fees.
2. Under the IPR facilitation mechanism, the government bears the entire fees of facilitators for trademarks or patents.
3. Fast-track startup firms can wind up operations within 90 days, compared with 180 days for other companies.
4. Exemption from earnest money deposit is available to all firms, irrespective of DPIIT startup recognition.
Which of the statements given above are correct?

Accepted Answer

Statements 1, 2 and 3 are correct as per PIB's Startup India summary. Statement 4 is false because the public-procurement exemptions are framed for startups, including exemption from earnest money deposit, not all firms irrespective of recognition.

Question 4

With reference to intellectual property support for DPIIT-recognised startups in DPIIT's Annual Report 2024-25, consider the following statements:
1. The SIPP scheme facilitates startups to file applications for patents, designs and trademarks through registered facilitators.
2. The Government bears the entire fees of facilitators under the SIPP scheme.
3. Startups receive a 50% rebate in patent filing and an 80% rebate in trademark filing vis-a-vis other companies.
Which of the statements given above are correct?

Accepted Answer

Statements 1 and 2 are correct: SIPP uses registered facilitators and the Government bears facilitator fees. Statement 3 reverses the rebates; the report states 80% for patent filing and 50% for trademark filing.

Question 5

With reference to the provided corpus fact on Startup India Fund of Funds 2.0, consider the following statements:
1. SIDBI was named as the initial implementation agency for Startup India Fund of Funds 2.0.
2. RBI was identified in the release as the implementation agency for this fund.
3. NITI Aayog was identified in the release as the implementation agency for this fund.
Which of the statements given above are correct?

Accepted Answer

Statement 1 is correct: the corpus fact says SIDBI was named as the initial implementation agency. Statements 2 and 3 are false because the same corpus fact says RBI and NITI Aayog are not identified in the release as implementation agencies for this fund.

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