Updated on July 06, 2024 11:46:40 PM
Startup India is a pathbreaking initiative of the government of India aimed at building a strong ecosystem of new-age startups & entrepreneurs which can sustain & boost economic growth in the country.
To fulfil the objectives of the startup India scheme government has made an action plan and started various programs such as:
DPIIT recognized Startups would also have to face far fewer regulations and hassle while operating their businesses.
Startup India DPIIT Sample Report
The department for the promotion of industry & internal trade (DPIIT) is responsible for recognizing & supporting startups by providing them access to government funding, such as access to SIDBI funds of funds (FoF). Startups will also get tax benefits, easier labour & environment law regulation & fast-track intellectual property rights (I.P.R.) recognition.
Labour laws that are exempted for DPIIT-recognised startups
Environmental laws that are exempted for DPIIT-recognised startups
Note: Companies that have been granted DPIIT status are not required to put up an E.M.D. (earnest money deposit) to participate in tenders on public procurement platforms.
Under the Startup India Action Plan, startups that meet the definition prescribed under G.S.R. notification 127 (E) can apply for recognition under the program. The program aims to create a robust ecosystem and pick up new-age enterprises.
The following are the eligibility criteria for Startup India registration set up by DPIIT.
The entity's operational years and period of existence should be ten years from the date of incorporation.
The Concerning business should be registered with RoC as one of the following types of business under the companies act 2016.
Annual turnover should be at most 100 crores for the financial years since its inception.
The Company should not have been established through the dissolution or reconstruction of an existing enterprise.
It should be working to create & improve products or services and have a company strategy that can be scaled to generate significant wealth and job opportunities.
The following documents are needed to be submitted to get DPIIT recognition for startups.
The foremost step before applying under Startup India is that the applicant should be eligible, which means their entity should be registered as a legal business entity under the company registration Act 2013.
Interested business entities must create profiles on the portal before opting for DPIIT recognition.
You can follow the following steps to create the profile.
Once the profile is created, the respected entities are required to avail themselves of DPIIT recognition. Navigate to the startup recognition form & fill in the details , such as the entity details and details of the authorized person and also upload the self-certification document.
DPIIT recognition is obligatory for businesses to avail the benefits of various government programs for MSMEs and entrepreneurs.
The professional charge for getting DPIIT recognition under Startup India initiatives is 3,999 rupees only & the total time it would take in the process would be 15-20 business days.
Getting startup India registration with professional utilities is an easy and hassle-free task. You can register your business under startup India in 3 simple steps with us.
Step 1:
Get in touch via call or Contact with us
Step 2:
Provide all the required details & documents
Step 3:
Get approval by DPIIT within 20-25 days
As a nation, India is experiencing its most prosperous period for startups ever. However, the government is crucial in making India a technology powerhouse. By facilitating connections between new businesses and available resources, the Indian government is helping to close the gap that has traditionally existed in the country. It is the right time to grab the opportunity and grow your business in India as a startup.
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
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The process of registration for startup india is very simple. You just have to follow these simple steps to get your registration done with us.
Startups are encouraged by the government by providing them various benfetis through tax holidays & fewer compliances. However it is not mandatory for startups to get registered under India. But the scheme introduced by govt can help them in promoting their business.
The eligibility criteria for entities for DPIIT recognition is described in GSR notification 127-E.
It takes around 15-20 days to complete the whole process by DPIIT.
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