Startup Registration
Simplification and Handholding.
Funding Support and Incentives.
Industry-Academia Partnership and Incubation.
Startup Registration - An Overview
The Startup India Initiative has rolled out several programs to support entrepreneurs, build a robust startup ecosystem, and transform India into a country of job creators rather than job seekers. These programs are administered by a team of dedicated Startup India, which further reports to the Department for Industrial Policy and Promotion (DPIIT).
Recently Indian Prime Minister announced, “India will celebrate January 16 as ‘National Start-up Day. He coined startups as the “backbone “of India and the engine which will empower the nation’s economic growth in the upcoming 100th years of India’s Independence.
Our Prime Minister Modi said that the current decade is referred to as the “decade of India”. His government will usher in massive changes to strengthen innovation, entrepreneurship and the startup ecosystem.
What is Startup?
A startup can be interpreted as a newly established business started by one or a group of individuals. What differentiates it from other new companies is that a startup offers a new product or service that is not being provided elsewhere in the same way. The keyword is innovation. The business either develops a new product/ service or redevelops a current product/service into something better.
Department for Promotion of Industry and Internal Trade (DPIIT) considers an entity as a startup for ten years from incorporation date subject to the fulfilment of the following conditions:
- The Company should be incorporated as a Private Limited Company, LLP or Partnership firm.
- The Company is eligible for the various benefits of a Startup up to ten years from the date of incorporation.
- The Company's turnover should not exceed One hundred crores for any financial years since incorporation.
- The eligible Company should work on innovation, development, or improvement of products or services. The Company's business model should be scalable with a high potential for wealth creation or employment generation.
- It should be a new entity, i.e., not formed by splitting up or reconstruction of an existing business or by transfer to a new company previously used for any purpose.
Process OF - Startup Registration
An application for the online startup registration can be made to DPIIT to be recognized as a duly recognized Startup.
- Certificate of incorporation of the Company.
- Details of the Directors.
- Proof of concept like website link/pitch deck/Startup video (in case of a validation/ early traction/scaling stage startup).
- PAN Number
- Patent and trademark details (Optional)
- Write-up on the nature of business highlights incorporating how an entity is working towards development, innovation or improvement of products or processes or services, or its scalability in terms of employment generation or wealth creation. This forms the very basis of rejection or approval of the application and must be detailed.
- Additional documents providing website link, Startup pitchdeck, details of patents, etc., shall also be attached to support the application.
- Information on any award received by the entity.
- Document proof of funding received by the entity, if any.
Obtain DSC
Apply for the DIN
Application for the name availability
Submission of MoA and AoA to register a private limited company
Apply for the PAN and TAN of the company
RoC issues a certificate of incorporation with a PAN and TAN
Benefits of - Startup Registration
There are various benefits given to the Company who have registered themselves under the Startup Scheme. Following benefits are being given to entrepreneurs establishing startups:
- 80% rebate in patent cost/ IPR protection.
- Self-certification of six labour laws and three environmental laws through a simple online procedure. Only those startups eligible for this benefit, those who have recognized themselves under DPIIT within five years of incorporation.
- Tax exemptions under Income Tax Act.
- Easy winding-up process (within 90 days).
- Easier public procurement norms
Frequently Asked Questions
Proprietorship firm is not eligible for Startup India Registration. The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership.
Startup Registration
Startup Registration
- Startup Recongnisation Certificate