Aiming to make the process of accessibility, accountability and transparency simpler and more efficient for startups to approach the government and avail the incentives, F6S is now planning to approach the state government as it looks to expand rapidly in India.
F6S is an online platform for founders, startups, incubators and accelerators.
Over the past one year, since the Startup India initiative has been launched, the government has come up with various initiatives and reimbursement policies for startups. What is lacking, however, is the accessibility to these initiatives for startup founders to take advantage of.
Santosh Yellajosula, the cofounder of F6S, said, “Governments say they will reimburse the money spent on patents and trademarks, but they still don’t have a mechanism for it. Founders waste a lot of time applying for these and since the entire process is so tedious, most of them end up giving up on these advantages.”
F6S has put forward their plan to digitise these initiatives and as a result bringing them on one platform and creating accessibility for the entrepreneurs.
Yellajosula is also currently in talks with the Kerala and Maharashtra governments to make them a part of F6S.
“We want to provide the government with data. This data will help them take better startup-related decisions, which will lead to better startup policies,” said he.
He added, “F6S has already tried something similar in the United Kingdom, where the startups were facing trouble claiming the research and development tax credit being offered by the UK government.”
The platform currently has about 22,000 startups and 65,000 founders from India and it has recently added Dubai government to its online community. The platform wants to get rid of the barriers of borders so that startups can have access to international incubators, accelerators and investors.