Startup India Registration

Startup India Registration

What is Startup India Registration?

Startup India Registration is a flagship initiative by the Government of India aimed at fostering innovation and promoting sustainable economic growth. It is designed to support entrepreneurs and startups by providing them with a host of benefits, including ease of doing business, access to funding, and various exemptions. By becoming a DPIITrecognized startup, businesses can avail themselves of numerous advantages, setting a solid foundation for their growth and development.

Why You Should Do Startup India Registration

 Promotes Innovation and Creativity: Encourages the development of new, innovative products, processes, and services.

 Ease of Doing Business: Aims to simplify the process of starting and operating a startup in India.

 Financial Support: Startups can access a ₹10,000 crore fund set up to support recognized startups.

 Tax Benefits: Offers exemption from income tax for three consecutive years.

 IPR Protection: Facilitates easy way of protecting Intellectual Property Rights.

 Employment and Wealth Creation: Encourages startups that have the potential for wealth generation and employment creation

Documents Required:

The process requires a structured submission of documents, categorized into three sections:

1. Details of the Authorized Person: Includes a letter of authorization, Aadhar card, and contact details.

2. Documents from the Company (Entity) Applying: This involves proof of registration, contact information of partners/promoters, details of the company's activities, and details of intellectual properties.

3. Other Documents/Information: May include a link to the website, pitch deck, and letters of recommendation or funding from investors if applicable.

Process: Step by Step

1. Incorporate Your Business Entity: Start by legally incorporating your business as a Private Limited Company, LLP, or Registered Partnership Firm.

2. Create an Account on Startup India Portal: Register your company on the Startup India website to proceed with DPIIT recognition.

3. Fill Out the Application Form: Complete the application form with your company details.

4. SelfCertify Compliance with Certain Conditions: Certify that your business meets the specified conditions related to originality, ownership, and operation.

5. Upload Required Documents: Submit all necessary documents in PDF format, including the Certificate of Incorporation and Aadhar Card of the authorized person.

6. Receive Startup India Certificate: Upon successful submission and verification, DPIIT will issue a recognition certificate

Tentative Time: 2 Weeks

The entire process, from document submission to receiving the Startup India Certificate, is expected to take approximately two weeks, provided all documents are received in order.

Eligibility Criteria:

 The startup must be less than 10 years old from the date of incorporation.

 It should be a Private Limited Company, Limited Liability Partnership, or a Registered Partnership Firm.

 The annual turnover should not exceed ₹100 crores in any financial year since incorporation.

 The entity should be working towards innovation, development, or improvement of products or processes and should have the potential for employment creation and wealth generation