Startup India is a flagship initiative of the Government of India aimed at fostering entrepreneurship and promoting innovation in the country. Here's an overview of Startup India registration:
Purpose of Startup India: The Startup India initiative aims to create a conducive ecosystem for startups, encourage job creation, and facilitate sustainable economic growth. It offers various benefits, support, and incentives to registered startups
Eligibility Criteria: To be eligible for Startup India registration, a business must meet certain criteria:
Benefits of Startup India Registration: Registered startups can avail themselves of various benefits and support, including:
Recognition as a Startup: Upon successful registration, the startup is recognized as a "Startup" by the Department for Promotion of Industry and Internal Trade (DPIIT). The startup receives a unique recognition number and certificate.
Additional Support and Programs: In addition to registration, the Startup India initiative offers various schemes and programs to nurture startups, such as the Fund of Funds for Startups, Atal Innovation Mission, and Incubation Centers.
Compliance Requirements: Startups are required to self-certify compliance with various labor and environmental laws for a period of 5 years from the date of incorporation.
Startup India registration provides startups with a platform to access a range of benefits and support to fuel their growth and innovation. It is advisable for eligible startups to explore the opportunities and incentives offered by the initiative to accelerate their entrepreneurial journey in India.
Eligible Startups can be exempted from paying income tax for 3 consecutive financial years out of their first ten years since incorporation.
The Government of India gives special preference in buying from Startups businesses through Govt. tenders.
Investments into eligible Startups by Accredited Investors, Non-Residents, AIFs, closely held listed companies may also be exempted under Section 56 (2) (VIIB) of Income Tax Act, 1961.
Startups can self certify the compliance under 6 Labour Laws and 3 Environmental Laws for 5 years from the date of incorporation.
The startup can raise funds & capital through the fund of funds initiative by Startup India. DIPP has proposed to release Rs.10,000 crore for Startups.
Fast tracking of Startup Patent application, Upfront 50% discount on Trademark fees, 80% Rebate on Patent filing fees.
Website OR Company Profile Deck (Any One)
Details of investment in Plant & Mahcinery, Equipments etc. is required
Incorporation Certificate with GST Certificate is required.
A copy of PAN & Aadhar Card of Proprietor/ Partners/ Directors /Company is required
Brief Write up on how the business is working towards: innovation, employment, wealth creation
MoA & AoA / LLP Agreement or Partnership Deed as applicable is required
Startup India registration is the process by which startups in India can register themselves with the Startup India initiative launched by the Government of India. It provides recognition and access to various benefits and support for startups.
To be eligible for Startup India registration, a business must meet the following criteria:
The registration process for Startup India involves the following steps:
Startup India registration offers several benefits, including:
No, there is no fee for Startup India registration. The registration process is free of cost.
Yes, existing startups can also register under the Startup India initiative if they meet the eligibility criteria. It allows them to avail themselves of the benefits and support provided by the government.
Startup India registration is not mandatory to operate as a startup. However, registration offers additional benefits, support, and recognition by the government, which can be advantageous for the growth and development of startups.
There is no specific time limit for Startup India registration. Startups can register at any time as long as they meet the eligibility criteria.
The time taken to complete the registration process may vary. Typically, it takes around 2-3 weeks for the Startup India team to review and provide the recognition certificate.
Yes, Startup India registration is open to startups from all sectors, including technology, manufacturing, services, and social sectors. It aims to promote innovation and entrepreneurship across various industries.