Start UP India Registration
The Startup India Scheme is an initiative by the government of India aimed at encouraging the development and innovation of products and services and the creation of employment opportunities across the country. One of the goals of the scheme has been simplifying how to register a startup in India by reducing regulatory burdens and allowing them to focus on their core business while keeping compliance costs low and also providing multiple benefits, aside from the massive networking opportunities provided by the bi-annual startup festivals held by the Government of India both domestically and internationally.
Checklist under the Startup India Scheme
An organisation will be eligible under the scheme if
- It is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India
- It has been less than ten years from the date of its incorporation/registration
- Its turnover for any of the financial years since incorporation/registration has not exceeded INR 100 Crores
- It should possess a DIPP number
- It is funded by an incubation fund, angel fund, or private equity fund that is registered with the Securities and Exchange Board of India (SEBI)
- It has obtained a patron guarantee from the Indian Patent and Trademark Office
- It has a recommendation letter from an incubator
- Capital gain is exempt from income tax
- It is working towards the innovation, development, or improvement of products or processes or services, or if it is a scalable business model with a high potential for employment generation or wealth creation
