Startup

Startup Registration in India

Startup India is an Indian Government initiative that is intended to build a strong eco-system for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities. Through this initiative, the government aims to empower Startups to grow through innovation and design.

The objectives of the Startup India Movement are outlined below. The action plan envisages supporting the startups and more:

• Enhanced infrastructure, including incubation centres
• IPR facilitation, including easier patent filing
• The better regulatory environment, including the tax benefits, easier compliance, improved setting up of a company, fastest mechanism and more.
• A goal to increase the funding opportunities
• Provide a vast networking database for the entrepreneurs and other stakeholders in the startup ecosystem.

Eligibility Criteria

The startup must meet the following eligibility criteria to avail the DPIIT Certificate of Recognition:

• Period of Existence of Entity: The Period of existence and operations of the company should not exceed 10 years from the date of formation
• Type of Entity: The DPIIT Certificate of Recognition is provided for the company which is incorporated as a Private Limited Company, a Limited Liability Partnership (LLP) or a Registered Partnership Firm.
• Annual Turnover: To get the DPIIT Certificate of Recognition, The firm should have an annual turnover of Rs. 100 crore for any of the fiscal years since its federation
• Original Entity: To avail the DPIIT Certificate of Recognition, the company should not have been incorporated by splitting up or recreating an already existing entity.
• Innovative & Scalable Entity: The entity should be working towards development or improvement of a product, process or service.
• The entity should have a scalable business model with high potential for the creation of wealth and employment. The firm should have the potential to generate employment or create wealth.

Documentation for Startup India Registration

• Proof of Funding - In the case of funding, receiving the Proof of Funding is required for getting the Startup Recognition Certificate.
• Documents of Awards - Or any awards received by the entity
• Patent documents - The patent should be published in the patent journals.
• Description of Business - Write up on the brief description of business. Details of how a startup is working for innovation, the scope of products and services, scalability in terms of employment generation or wealth.
• Incorporation Certificate - Certificate of Incorporation or the registration of an entity certificate