1 $According to the Indian Ministry of Commerce and Industry, an entity is considered a 'Startup' up to how many years from the date of its incorporation?$

A.

5 years

B.

7 years

C.

10 years

D.

15 years

2 $Which government body in India is responsible for recognizing Startups?$

A.

NITI Aayog

B.

DPIIT (Department for Promotion of Industry and Internal Trade)

C.

SEBI

D.

RBI

3 $Under the 'Startup India' initiative, eligible startups are exempted from income tax for 3 consecutive years out of 10 years under which section of the Income Tax Act?$

A.

Section 80-IAC

B.

Section 54GB

C.

Section 80C

D.

Section 10(10D)

4 $What is the primary benefit regarding patent registration provided under the Startup India scheme?$

A.

100% reimbursement of filing fees

B.

80% rebate on filing fees and fast-tracking

C.

Automatic patent grant without examination

D.

Exemption from patent laws

5 $The 'Fund of Funds for Startups' (FFS) was established with a corpus of approximately how much amount?$

A.

B.

C.

D.

6 $Under the Startup India initiative, startups can self-certify compliance with how many labour and environment laws?$

A.

3 Labour Laws and 2 Environment Laws

B.

6 Labour Laws and 3 Environment Laws

C.

9 Labour Laws and 3 Environment Laws

D.

5 Labour Laws and 5 Environment Laws

7 $Which of the following is NOT a criterion for a business to be defined as a Startup in India?$

A.

Incorporated as a Private Limited Company, Partnership Firm, or LLP

B.

Turnover not exceeding INR 100 Crore

C.

Entity should be working towards innovation/improvement of products

D.

Must have at least 50 employees

8 $The '10,000 Startups' initiative is a program led by which organization?$

A.

FICCI

B.

NASSCOM

C.

CII

D.

ASSOCHAM

9 $What is the primary objective of the 'Stand-Up India' scheme?$

A.

To support large manufacturing industries

B.

To facilitate bank loans between 10 lakh and 1 Crore to SC/ST and Women borrowers

C.

To provide funding solely for IT exports

D.

To support agricultural cooperatives

10 $Under the Pradhan Mantri MUDRA Yojana, the 'Tarun' category covers loans of what amount?$

A.

Up to

B.

to

C.

to

D.

Above

11 $What does CGTMSE stand for in the context of bank loans for small businesses?$

A.

Central Government Trust for Medium Scale Enterprises

B.

Credit Guarantee Fund Trust for Micro and Small Enterprises

C.

Corporate Guarantee Trust for Medium and Small Exports

D.

Credit Granting Trust for Manufacturing and Service Enterprises

12 $Which scheme allows Startups to wind up their business within 90 days?$

A.

Fast Track Exit under IBC

B.

Easy Exit Scheme 2020

C.

Startup Closure Act

D.

Voluntary Liquidation Scheme

13 $Software Technology Parks (STPs) in India are primarily focused on promoting what?$

A.

Hardware manufacturing

B.

Software exports

C.

Domestic software sales

D.

Agricultural technology

14 $Which agency is responsible for the administration of the STP scheme?$

A.

STPI (Software Technology Parks of India)

B.

SEBI

C.

NASSCOM

D.

TRAI

15 $Units in Special Economic Zones (SEZs) are considered as ______ for the purpose of trade operations, duties, and tariffs.$

A.

Domestic Tariff Areas

B.

Deemed Foreign Territory

C.

Duty-Free Shops

D.

Restricted Trade Areas

16 $Under the SEZ Act, what is the tax holiday benefit provided for the first 5 years of operation?$

A.

50% income tax exemption

B.

100% income tax exemption on export income

C.

25% rebate on GST

D.

No tax benefits

17 $What is the full form of SBIR, a highly successful US government funding program for startups?$

A.

Small Business Innovation Research

B.

Startup Business Investment Returns

C.

Strategic Business Initiative for Research

D.

Small Business International Relations

18 $What is the key difference between SBIR and STTR programs?$

A.

SBIR requires a non-profit research partner, while STTR does not

B.

STTR requires the small business to collaborate with a research institution

C.

SBIR is only for large corporations

D.

STTR does not provide funding

19 $In the context of US Federal Grants, what does NSF stand for?$

A.

National Startup Fund

B.

National Science Foundation

C.

New Science Frontiers

D.

North American Startup Forum

20 $Which phase of the SBIR program is primarily for 'Concept Development' or feasibility study?$

A.

Phase I

B.

Phase II

C.

Phase III

D.

Phase IV

21 $What is the 'Angel Tax' exemption provided to recognized startups in India?$

A.

Exemption on tax levied on investments raised above fair market value

B.

Exemption on capital gains from selling shares

C.

Exemption on dividend tax

D.

Exemption on GST for angel investors

22 $Which form must STP units file to certify their software exports?$

A.

GSTR-1

B.

IEC Code

C.

SOFTEX

D.

Bill of Lading

23 $For a startup to be eligible for the 'Startup India' benefits, it must be incorporated as:$

A.

Sole Proprietorship

B.

Private Limited Company, Registered Partnership, or LLP

C.

Public Limited Company

D.

Hindu Undivided Family (HUF)

24 $What is the 'Startup India Hub'?$

A.

A physical building in Delhi for startups

B.

An online portal for stakeholder engagement and query resolution

C.

A bank for startups

D.

A new tax law

25 $Which of the following is a key feature of the STTR program regarding the Principal Investigator (PI)?$

A.

The PI must be employed by the small business

B.

The PI can be employed by either the small business or the research institution

C.

The PI must be a government employee

D.

The PI must be a foreign national

26 $NSF SBIR/STTR grants are often referred to as:$

A.

America's Seed Fund

B.

The Golden Ticket

C.

Tech Giant Fund

D.

Federal Loans

27 $In the context of Startup laws, what does ESOP stand for?$

A.

Employee Stock Ownership Plan

B.

Early Stage Operational Protocol

C.

Economic Stabilization of Private companies

D.

Electronic Software Operating Procedure

28 $Which Indian ministry oversees the Special Economic Zones (SEZs)?$

A.

Ministry of Finance

B.

Ministry of Commerce and Industry

C.

Ministry of External Affairs

D.

Ministry of Corporate Affairs

29 $What is the primary condition regarding Net Foreign Exchange (NFE) for SEZ units?$

A.

NFE must be positive cumulatively over 5 years

B.

NFE must be positive every single year

C.

NFE is not applicable to SEZ

D.

NFE must exceed

30 $Under the NASSCOM 10,000 Startups initiative, what is the 'Warehouse' program?$

A.

A storage facility for hardware goods

B.

A co-working space and incubation facility

C.

A cloud storage plan

D.

A database of investors

31 $What type of funding does the NSF SBIR/STTR provide?$

A.

Loan with low interest

B.

Equity-free Grants

C.

Convertible Note

D.

Venture Debt

32 $What is the maximum turnover limit for a Micro Enterprise under the MSME definition (often relevant for startup resources)?$

A.

B.

C.

D.

33 $Which scheme allows startups to access government tenders that were previously restricted by prior experience/turnover criteria?$

A.

Public Procurement Policy for MSEs

B.

Global Tender Exemption

C.

Startup Tender Waiver

D.

Corporate Social Responsibility

34 $Phase III of the SBIR program is funded by:$

A.

The SBIR program funds

B.

Private sector or non-SBIR federal agency funding

C.

The World Bank

D.

Charitable donations

35 $What is a 'Unicorn' in the startup ecosystem?$

A.

A startup with a valuation of over

B.

A startup with a valuation of over

C.

A startup that has gone bankrupt

D.

A startup focused on animal welfare

36 $Which of the following is an intellectual property right often critical for technology startups?$

A.

Habeas Corpus

B.

Patent

C.

Power of Attorney

D.

Affidavit

37 $SIDBI stands for:$

A.

Small Industries Development Bank of India

B.

State Industrial Development Bureau of India

C.

Startup Investment and Development Bank of India

D.

Small Investment Direct Bank of India

38 $Under the STTR program, the small business must perform at least what percentage of the R&D work?$

A.

10%

B.

40%

C.

50%

D.

100%

39 $The 'GeM' portal, which aids startups in selling to the government, stands for:$

A.

Government e-Marketplace

B.

Global electronic Market

C.

General enterprise Mechanism

D.

Goods export Module

40 $Which legal structure is most preferred by VCs (Venture Capitalists) for investing in a startup in India?$

A.

Sole Proprietorship

B.

Private Limited Company

C.

LLP

D.

Partnership

41 $Under the Startup India scheme, the rebate on Trademark filing fees is:$

A.

10%

B.

25%

C.

50%

D.

100%

42 $Which of the following describes 'Bootstrapping'?$

A.

Raising money from Angel Investors

B.

Starting a business using personal savings and revenue

C.

Taking a large bank loan

D.

Getting a government grant

43 $For STPs, the import of hardware and software is:$

A.

Taxed at 18%

B.

Taxed at 28%

C.

Duty Free

D.

Banned

44 $What is the primary role of an 'Incubator' for startups?$

A.

To provide huge loans

B.

To provide mentorship, office space, and early-stage support

C.

To buy the startup

D.

To audit the startup

45 $Under Section 54GB of the Income Tax Act, capital gains exemption is available if the proceeds are invested in:$

A.

Real Estate

B.

Gold Bonds

C.

Eligible Startups

D.

Mutual Funds

46 $Which document is essential for a startup to officially govern the relationship between co-founders?$

A.

Founders' Agreement

B.

Rent Agreement

C.

NDA

D.

Offer Letter

47 $The 'Multiplier Grants Scheme' (MGS) by MeitY is designed to encourage:$

A.

Startups to export more

B.

Collaborative R&D between Industry and Acadernia/R&D institutions

C.

Startups to hire more women

D.

Banks to lend to startups

48 $In the context of SEZ, 'DTA' stands for:$

A.

Direct Tax Area

B.

Domestic Tariff Area

C.

District Trade Association

D.

Duty and Tariff Authority

49 $What is the typical time frame for a patent examination for recognized startups under the expedited scheme?$

A.

5-7 years

B.

Under 1 year (often faster)

C.

10 years

D.

2 weeks

50 $Which act largely governs the formation and regulation of Private Limited Companies in India?$

A.

The Partnership Act, 1932

B.

The Companies Act, 2013

C.

The Contract Act, 1872

D.

The MSME Act, 2006

Unit 3 - Practice Quiz