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What is Startup India Recognition?
In 2015, the Government of India, under the administration of the Ministry of Commerce and Industry, began the Startup India Initiative. This was done with the aim of boosting the Indian economy, encouraging Indian entrepreneurs, and giving a boost to Indian startups.
Under this initiative, eligible companies can get recognised as Startups by the Department for Promotion of Industry and Internal Trade (DPIIT). With this recognition, they can access a host of tax benefits, easier compliance, IPR fast-tracking and more. You can learn more about eligibility and benefits below.
Eligibility Criteria for Startup India Certificate
To be eligible for Startup India Certificate, the Startup should be a:
- Private limited company, or
- Registered Partnership firm, or
- Limited liability partnership.
The business should be newly incorporated. It should not have been formed by splitting up or reconstructing an existing business.
The turnover of the startup should be less than INR 100 Crores in any of the previous financial years.
A business entity shall be considered as a startup for up to 10 years from the date of its incorporation
The business concept and idea of the startup should be unique. It must be driving innovation or bringing significant improvement in existing products, services, or processes.
Moreover, such a startup should have the potential to generate employment and create wealth.
Who is not Eligible for Startup India Certificate?
The following are disqualified from getting Startup India recognition:
- Sole Proprietorship
- Firm constitute by the notary partnership deed
- Once annual turnover exceeds INR 100 crores
- A Company that is older than 10 years.
What’s the validity of the Startup India Certificate?
An entity shall cease to be a Startup either on completion of 10 years from the date of its incorporation/registration or if its turnover for any previous year exceeds INR 100 crore, whichever occurs earlier.
Benefits of getting Startup India Certificate
You can avail the following benefits and more by getting DPIIT recognition!
Startup India Registration Process
Documents Required for Startup India Registration
- Proof of Business Registration: Certificate of Incorporation of the company or registered partnership deed.
- Brief on Business Idea: The application requires a short depiction of the innovative idea of your business operation.
- Core Team: Details of director required including their qualifications, role in the company, etc.
- Other relevant information: regarding any funding received, Any IPR applied, if any, and the number of employees including founders and their roles.
Frequently Asked Questions
The Letter of Support is a document that applicants need to submit during the enrolment form for Startup India Registration if they wish to avail tax exemptions.
You can submit any of the following as a Letter of Support:
- A proposal, with respect to the innovative nature of the business, from an Incubator, or
- A letter of help by an incubator, which is financed (in connection to the task) by the Government of India as a major aspect of any predetermined plan to advance development; or
- A letter of support, with respect to the innovative nature of the business, from an Incubator, perceived by the Government of India in DIPP indicated design; or
- A letter of subsidizing of at the very least 20% in value, by any Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network, appropriately enlisted with SEBI that embraces inventive nature of the business; or
- A letter of financing by the Government of India or any State Government as a major aspect of any predefined plan to advance development; or
- A patent registration recorded and distributed in the Journal by the Indian Patent Office in zones associated with the idea of the business being advanced.
You can furnish the following documents as proof of business existence:-
- Certificate of Company Incorporation
- Udyog Aadhaar certificate aka MSME registration
FirstFiling is an online platform and we help clients across India irrespective of your place of business. All you need is a device to access the web and an internet connection, and we’ll get the rest of the job done! You don’t need to be physically present to get the Startup India registration done, our online process is meant to make things easier for you.