Startup India Portal Registration
Enabling Startups of today to be the Leaders of tomorrow. only at Rs. 4999/-
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What is Startup India Registration?
A startup is a new business that has just been started. It is usually small and created by one person or a group of people. How it’s different from other new businesses because it comes up with a new product or service that isn’t already being sold elsewhere in the same way. “Invention” is the keyword. The business either comes up with a new product or service or improves an existing product or service to make it better.
Startup India is a flagship programme of the Indian government (started in January 2016) that aims to create a robust ecosystem for nurturing innovation and startups in the country, resulting in long-term economic growth and large-scale job creation. With this effort, the government hopes to empower startups to grow through innovation and design. To achieve the initiative’s goals, the Indian government launched the Startup India Action Plan, which covers all areas of the startup ecosystem.
Eligibility for Startup India Portal Registration
Title | Particulars |
Business Structure | Entity must be registered as Private Limited Company OR Limited Liability Partnership OR Registered Partnership firm.
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Turnover | Turnover should be less than Rs. 100 crores in any of the previous year.
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Time Limit | It can be considered as a startup up to 10 years from the date of incorporation.
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Activity | A Startup must be involved in the activities towards innovation or improvement in existing products or services and must be capable of generating employment or wealth creation
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Following are not eligible for Startup Recognition
- Sole Proprietorship
- Firm constitute by the notary partnership deed
- Once annual turnover exceeds INR 100 crores
- The company is older than 10 years.
Benefits of Startup India Registration/Recognition by DPIIT
Rebate in IPR Filing
All the businesses that have been registered under the Startup India Initiative can get a discount on the government fees they pay to file for a trademark, Copyright, Design or Patent. The discount is 50% of the trademark fee, and you can get up to 80% off the cost of patent applications, apart from having the patent application fast-tracked.
Self Certification
For 3–5 years after formation, startups can self-certify their compliance with 9 labour & 3 environmental legislation. Units operating under 36 white category industries (as listed on the Central Pollution Control Board website) are exempt from 3 environmental restrictions for 3 years. There is a reduction in regulatory load for startups to focus on their primary business while keeping compliance costs low.
Government Tenders
Startups can apply for government contracts by registering as DIPP Startups. The requirement of prior experience/turnover for filing government tenders is not applicable to Startup India enterprises. Startups recognized by DIPP are excluded from providing EMD when submitting government tenders.
Startups Interaction platform
Networking is vital for any entrepreneur to gain market recognition and industry peers. After registering under the DIPP Startup Initiative, the startups can meet other startups, well-known speakers, investors, etc., at numerous government-organized festivals and summits. Startups recognized by DIPP can sell directly to government entities via the Government e-Marketplace
Fund of Funds for Startups
Startup India’s fund of funds initiative allows startups recognized by the DPIIT to raise money. This initiative proposes to grant Rs.10,000 crore for Startups, and the SIDBI will fund Startups approved by Implementing Agencies.
Faster Exit
The Ministry of Corporate Affairs (MCA) would expedite the dissolution of startup companies such as Private Limited Companies and LLPs. Startups with basic debt structures or satisfying certain income criteria can be wound up in 90 days under the Insolvency and Bankruptcy Code 2016.
Tax Exemption
The companies and LLP that has been incorporated on or after 1st April 2016 and before 31st March 2022 can enjoy three tax-free years within the first ten years since the date of incorporation U/s 80IAC subject to approval by the DPIIT. A separate application is required to be filed for Tax Exemption apart from Startup India Recognition certification
Angel Tax Exemption
Startup India-recognized entities can benefit from tax exemption on funds received as angel investment. The aforesaid tax benefit is available only to the startup that meets prescribed conditions, and the capital of such startup does not exceed 25 Crores
Documents required for Startup India Portal Registration
- Certificate of Incorporation
- MOA & AOA (in case of company)/Partnership deed (in case of LLP/Partnership firm)
- List of Directors/ Designated Partners
- Contact details of Directors/Partners
- Information related to Awards/certificates (if received by entity)
- Details related to amount of investment & investors.
- Website Link/Mobile App Link
- Udyam Registration/MSME Registration
