Updated on July 15, 2024 12:55:11 PM
The ambitious Startup India programme was introduced by the Indian government in an effort to promote entrepreneurship. The program's goal is to support entrepreneurs' innovation, expansion, and scalability.
Tax incentives and government funding for the programme are available to companies within 10 years of their incorporation. The goals of the government include promoting a thriving industrial environment and encouraging the next generation to embrace the entrepreneurial spirit.
Businesses must register with the DPIIT for startups recognition in order to receive the DPIIT's tools and support.
This article briefly discusses the Eligibility ,advantages and costs, of registering a startup under startup India initiative.
Startup India Certificate [Sample]
When an entrepreneur or group of entrepreneurs recognises a need in the market for an existing product or service, they launch a startup to fill it. The early stages of a company's existence are frequently referred to as the startup.
When first starting out, these companies often have high costs and minimal income, necessitating funding from a variety of sources, including venture capitalists.
For enterprises to be categorized & recognised under the startups India registration programme, the department for promotion of industry and trade (DPIIT) has defined the following requirements.
1- The originality of the entity:- To be eligible for DPIIT registration, startups must have been started as independent enterprises; they cannot have been created by splitting an existing firm.
2- Type of business structure:- To avail the benefits of the startup India registration programme, businesses are required to be registered under the following forms of business under the company act 2013.
3- Annual Turnover of the company:- The annual turnover of the company shall not be more than Rs. 100 Crore during any financial year since its incorporation.
4- Existence period of the company:- Company should not be older than 10 years since the day of its incorporation.
4- Innovation & the scalable entity:- The ability to extend and think creatively are two requirements for business success. Any startup needs them to succeed. Entrepreneurs must have a strong business plan in order to register with DPIIT on the Startup India platform, therefore DPIIT thoroughly evaluates each application before accepting it as a participant in the Startup India programme.
Prior to filing an application, the applicant must determine whether or not they are eligible for Startup India registration. They are required to register their entities as per the companies act 2013 under the following type of business structure.
Only the businesses registered under the above categories can be considered for the startup India recognition.
The user must next create a profile on the startup India website by completing an online form and providing the required information, such as an email address and one-time password (OTP), to verify the identification.
After successfully creating a profile, the applicant has access to the following benefits:
After creating their profile, startups must apply for DPIIT approval. Applicants can access the application form for startup recognition from the dashboard. To continue with the procedure, you must fill in the required information.
The following documents are needed to be submitted by the entities for recognition of Startup India by DPIIT.
The professional price for gaining DPIIT recognition under Startup India programs is 3,999 rupees only & the entire time it would take in the process would be 20-25 business days.
Note: Businesses with DPIIT registration are exempted from Earnest money deposition (EMD) during public bidding and procurements on etendering portals such as GeM portal.
Registration for a new business in India is quick and painless when you use the right tools. Our three-step process makes registering your company as a startup in India easy under DPIIT guidelines.
Step 1:
Get in touch via call or contact form
Step 2:
Provide necessary documents
Step 3:
Get your incorporation registered in 7-10 working days
This moment in India's history marks the beginning of a period of unparalleled prosperity for the country's budding entrepreneurs. The government plays a crucial role in making India a technology superpower.
The Indian government's Startup India program acts as an intermediary between startups and the kinds of possibilities they might not be able to access on their own. Therefore the new businesses need to register themselves with DPIIT to take advantage of govt schemes & guidance.
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The registration process for startup India is straightforward. You must follow these simple steps to get your registration done with us.
Startups are encouraged by the government by providing them with various benefits through tax holidays & fewer compliances. However, it is optional for startups to get registered in India. But the scheme introduced by govt can help them in promoting their business.
The eligibility criteria for entities for DPIIT recognition are described in GSR notification 127-E.
It takes around 20-25 days to complete the whole process by DPIIT.
Per the GSR 127-E guidance & rules, proprietors are not eligible to opt for DPIIT startup India registration.
As per the rules, these are the following types of companies that can get benefits of startup India registration.
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