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Startup India Registration
The government has taken several important efforts under Startup India to create a robust startup ecosystem and make India a country of job creators rather than job seekers. The Startup India Scheme is managed by the Department of Industrial Policy and Promotion (DPIIT).
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Overview of Startup India Registration
In 2016, the Indian government launched the Startup India programme. The primary goal of this programme is to encourage the creation of new businesses in India. The government has taken several important steps under this scheme to create a strong startup environment and make India a country of job creators rather than job seekers. The Startup India Scheme is managed by the Department of Industrial Policy and Promotion (DPIIT). By establishing work prospects in the Indian economy, the startup India registration process has extended the scope of development.
A startup is a new or tiny business that is launched by a single person or a group of people. What sets it apart from other new businesses is that it provides a unique product or service that isn’t available anywhere else. The motivations are to promote innovation.
Advantages of Startup India Registration
The Indian government provides many perks to start-ups operating under the Startup India programme. The following is a list of benefits granted under the Startup India Registration scheme:
Tax Advantage:- Startups registered under the Start-up India scheme are eligible for a three-year tax exemption. Angel Tax relief is offered under section 80IAC and section 56 of the Internal Revenue Code.
Participation in Tender:- In several tenders, the government and PSUs provide relief for startups. They are authorised to compete in tenders for governmental procurement jobs. Relaxation in past experience, EMD, or Turnover criteria are also advantages.
Government Funding Opportunity:- The government has set aside Rs 10,000 crore in Alternate Investment Funds to invest in businesses. SIDBI is in charge of the fund’s management. Under this quota, all startups are able to apply.
Participate in a various of government programmes:- The government issues several government initiatives on a daily basis to encourage startups to participate. For example, raw material support, a sustainable finance plan, and bank credit facilitation.
Simple Winding Up:- The procedure of winding up a business becomes simple, and it only takes 90 days under the Insolvency and Bankruptcy Code of 2016.
Joining Networks:- The advantage of startups is that they assist businesses in expanding their networks and seeking larger connections. These startup companies look for and connect with several large companies in order to receive mentorship. The ability to interact with investors and sectors is extremely beneficial to new businesses.
Self-Certification:- Startups can self-certify their compliance with nine distinct labour rules and nine different environmental laws.
Patent Filling Rebate:- Startups registered under the Startup India scheme would receive an 80 percent discount on patent application fees.
Trademark Filling Rebate:- The government promises to provide start-ups participating in this scheme a 50% discount on trademark filing fees.
Opportunity for Business:- Startup India is a platform that provides several possibilities, recognition, and assistance to all start-ups striving to carve out a place for themselves.
Registration as a Private Limited Company, a Limited Liability Partnership, or a Registered Partnership Firm is required.
- To begin, register your company (private limited company, LLP, or partnership firm).
- Obtain the company’s PAN.
- Obtain MSME registration for your business.
- Log in to the registration platform for startups in India.
- Complete all relevant fields and attach all required papers.
- Fill out the certificate of incorporation or the certificate of registration.
- If your application meets the requirements after assessment, you can get the Startup India certificate.
Eligibility For Startup India Registration:-
- For each financial year since its inception, a company’s turnover must be at least Rs 100 crore.
- The firm/company must have existed and operated for less than ten years from the date of establishment.
- A private limited corporation, a Limited Liability Partnership (LLP), or a registered partnership firm should be used.
- A company should strive to improve a product, process, or service. It should also have a scalable business plan with great wealth and employment potential.
- The company should not be formed by splitting up or reforming an existing company.
- A tender filing requirement has not been enforced on a Start-up India company.
Certificate of Registration
It is critical that you upload your company/certificate LLP’s of incorporation (Registration Certificate in case of partnership).
- Email address and phone number, as well as contact information
- Company information, such as the industry, sector of employment, category of dealing, registered office address, and so on.
- In the event of early traction and validation, evidence of concept such as a pitch deck, video, or website link is required.
- The information about the company’s Directors or Partners, including their name, photo ID, gender, phone number, email address, and address).
- The authorised representatives’ information ( Name, contact details, Designation, Email ID).
- Revenue model and product differentiation
- PAN information.
A Short Business Description
Give a brief summary of your company’s innovative character.
FAQ's Startup India Registration :-
The major goal of the Startup India programme is to encourage the creation of new businesses in India. The government has taken several important steps under this scheme to create a strong startup environment and make India a country of job creators rather than job seekers.
Incubation and Industry-Academia Partnerships, Simplification and Handholding, Funding and Incentives
The startup India plan can be used by organisations that are registered as a Private Limited Company, Partnership Firm, or Limited Liability Partnership.
Private Limited corporations and LLPs are the most popular business structures for startups. Investors frequently prefer a Private Limited corporation since it is legally recognised.
Startup incubators are typically non-profit organisations that assist entrepreneurs in growing their businesses, particularly in the early stages. Startup accelerators help new businesses get off the ground and grow.
Any company organisation that has completed 10 years from the date of its registration and has exceeded the previous year’s turnover of 100 crores shall cease to be a startup after completing 10 years from the date of its registration.
You will receive a system-generated certificate of recognition once the application is completed and the startup has been identified. This testimonial is available for download from the Startup India portal.
Indeed, a current organisation can register as a startup if it fits the specified startup characteristics, according to the legislation. They will also be able to take advantage of certain tariff and IPR benefits available to new businesses.
Investing in a startup is a risky proposition, but the low need for overhead capital combined with the huge upside potential makes it desirable for investors to put their money into new businesses.
Is it necessary for me to print an application form and provide a physical copy of it to complete the Startup registration process?
No, only online applications are accepted.
Is it possible to get a certificate for my successful registration? Is it possible to download the certificate if yes?
Yes, after successful registration, you can download a system-generated verifiable certificate of recognition.
Turnover does not exceed Rs. 100 crore
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