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Question

Consider the following statements with respect to the Funds for Startups (FFS) Scheme- 

I. The Government has established FFS with a corpus of Rs. 10,000 crore, to meet the funding needs of startups.

II. SIDBI is the monitoring agency and DPIIT is the operating agency for FFS.

III. Startups are provided with an 80% rebate in filing of patents and 50% rebate in filing of trademark vis-a-vis other companies.

Which of the following statements is/are TRUE? 

A Only I Correct Answer Incorrect Answer
B Only I & III Correct Answer Incorrect Answer
C Only III Correct Answer Incorrect Answer
D Only II & III Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The Government has established FFS with a corpus of Rs. 10,000 crore, to meet the funding needs of startups. Department for Promotion of Industry and Internal Trade (DPIIT) is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. Startups are provided with an 80% rebate in filing of patents and 50% rebate in filing of trademark vis-a-vis other companies.

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