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Startup India Registration
DPIIT under the Startup India Scheme introduced the Startup India Registration to promote innovation within businesses. At RegisterKaro, we support & promote businesses by helping them in getting DPIIT Recognition.
A Complete Analysis of Startup India Registration
India’s startup scene is thriving, witnessing a surge in young entrepreneurs each year. With a supportive government backing, startups contribute significantly to the nation’s economic growth. These ventures, offering innovative solutions to societal challenges, redefine existing products or services. The Startup India Initiative, championed by the Indian government, aims to nurture aspiring entrepreneurs. The accompanying Startup India Scheme provides crucial financial and mentoring support for the growth and expansion of startup companies. This initiative not only promotes startups but also focuses on creating employment opportunities and fostering wealth generation. At RegisterKaro, we have a team of professionals who will help you in getting Startup India Registration without any hassle and at a very low cost.
What is a Startup?
It’s a newly established Company, generally small, which is started by one or more people. The main purpose behind a startup is to grow faster & provide something to fulfill the market gap in any industry. There are no fixed parameters set for a startup, as they are totally independent to some level. Startups initiate with a product concept & strive to grow at pace. It’s not vital that all Startups make a profit during their initial stage.
Objectives of Startup India Movement
Following are the objectives of Startup India Movement:
1: Enhanced Infrastructure, including incubation centers;
2: IPR facilitation;
3: A goal to increase the funding opportunities;
4: Provide an extensive networking database for the entrepreneurs & other stakeholders in the startup ecosystem;
5: The better regulatory environment including the tax benefits, easier compliance improved establishing a Company, fastest mechanism & more.
Benefits of Startup India Registration
Following are the benefits of Startup India Registration:
Easy Access of Funds: Rs. 10,000 crores fund is set-up by the Indian Government to provide funds to the startups as Venture Capital. The Government is also giving guarantees to the lenders to encourage banks & other financial institutions to provide Venture Capital.
Tax Savings for Investors: Individual investing their capital gains in the venture funds set-up by the Government will get exemption from Capital Gains and this will help all the Startups to attract more investors.
Income Tax Exemption: Eligible startups can be exempted from paying Income Tax for 3 Consecutive F.Y. (Financial Years) out of their first 10 years since Incorporation.
Easily apply for Government Tenders: Startups in India can easily apply for Government Tenders and they are exempted from the prior experience or turnover criteria applicable for normal companies answering to Government Tenders.
Rebate in Trademark & Patent Filing: Startups working under Startup India Registration Scheme will get 50% rebate on Trademark Filing and 80% rebate on Patent filing.
Easy Winding Up: The process of winding up of Company becomes very easy & it takes 90 days to wind up under IBC, 2016.
Eligibility Criteria for the Registration
Following is the eligibility criteria for Startup India Registration or DPIIT Certificate of Recognition:
1: The Startup India Registration Certificate or DPIIT Certificate of Recognition is provided for the company which is registered as an LLP, Private Limited Company, or a registered Partnership Firm.
2: To get the Registration Certificate, the firm should have an annual turnover of less than Rs. 100 crores for any of the previous Financial Year.
3: The entity or company should be working towards improvement/development of a product, service, or process.
4: The entity or company should have a scalable business model with high potential for the creation of wealth & employment. The company or firm should have the capability to generate employment or create wealth.
5: The period of Company’s operations or existence shouldn’t exceed 10 years from the date of formation.
6: To get Startup India Registration Certificate or DPIIT Certificate of Recognition, the company shouldn’t have been registered by splitting up/recreating an already existing entity.
7: Applicants shouldn’t have defaulted with any financial institution in the past.
Documents required for Startup India Company Registration
Following is the documents required for Startup India Company Registration:
1: CoI or Certificate of Incorporation;
2: MoA (Memorandum of Association) & AoA (Articles of Association);
3: List of all designated Directors and Partners;
4: Contact details of all the Directors or Partners;
5: Latest Photos of all the Directors and Partners;
6: Details regarding the amount of investment and investors;
7: Details of IPR Registration;
8: Website or Mobile App link (if any);
9: Growth Plan and Business Plan;
10: Udyam Registration or MSME Registration;
11: Brief write-up on how the business is working towards (innovation in the industry, high potential for wealth creation, potential for employment generation).
OUR BLOGS
- What is Startup India registration?
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Startup India registration is a government initiative that offers various benefits and incentives to startups in India. It provides recognition and support to innovative and budding entrepreneurs.
- Who is eligible to register as a startup in India?
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Any business entity, including a private limited company, LLP, or partnership firm, can register as a startup if it meets the eligibility criteria defined by the government.
- What are the eligibility criteria for Startup India registration?
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To be eligible, a startup must be incorporated in India, be less than 10 years old, and have an annual turnover below a specified limit.
- How do I register my startup with Startup India?
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You can register your startup on the official Startup India portal by providing necessary details and documents. It’s a simple online process.
