On 15th August 2015, the Hon’ble Prime Minister announced the “Startup India Initiative” which aimed at fostering entrepreneurship and promoting innovation by creating an environment which is suitable for the growth of Startups. Startup India Registration (also known as DPIIT Recognition) was launched by the Government of India to encourage Innovation amongst Startups in the country that will help to increase the economic growth of the country and generate large scale employment opportunities. Growth through promotion of innovative products and services is encouraged by the Government to boost the business of Startups. The DPIIT Recognition is intended to act as a driving force for the Startups to launch and scale greater heights.
“Startup India Action Plan” was made live on 16th January 2016 to meet the objectives of the Startup India Initiative under the able leadership of the Hon’ble Prime Minister Shri Narendra Modi Ji.
Under the Start-up India Action Plan, start-ups meeting the criteria as prescribed under G.S.R. notification 127(E) are eligible to apply for getting Recognition by DPIIT (Department for Promotion of Industry and Internal Trade) under the plan. The Start-ups are required to submit necessary documents, at the time of application for the DPIIT (Erstwhile DIPP) Recognition.
Eligibility Criteria for Startup India Registration/Recognition
The following is the eligibility criteria for Startup India Registration/Recognition:
- Company: It must be a Private Limited Company or registered as a Partnership Firm or a Limited Liability Partnership (LLP)
- Turnover: Turnover must not exceed more than Rs 100 crores i.e it must be less than 100 crores in any of the previous financial years
- Duration: Entity shall be recognised as a start up to 10 years from the date of its incorporation.
- Innovation: It should work towards innovation/improvement of existing products, services, and processes and should have the potential to generate employment/create wealth. An entity formed by splitting up or reconstruction of an existing business shall not be considered as “Start-up”.
Documents Required for Startup India Registration
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DOCUMENTS
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1.
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Registration Certificate in case of Partnership Firm/LLP
Certificate of Incorporation in case of Company
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2.
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PAN of the Entity
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3.
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Details of the Entity (Registered Address, Industry, Sector, Category, Email ID , Mobile Number)
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4.
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Name, Address, Email ID, Mobile Number, Photo of the Designated Partners/ Partners in case of LLP/ Partnership Firm
Name, Address, Email ID, Mobile Number, Photo of the Directors in case of Company
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5.
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Details of the Business, Products, Services, Short Write-up explaining how the products/ services are Innovative and Unique including Revenue Model , Uniqueness of the Product/Service etc.
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6.
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Proof of concept like pitch deck/website link/ video (in case of validation/early traction/scaling stage startup) respectively
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7.
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Patent and Trademark details, if any
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8.
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LLP Agreement/ Partnership Deed in case of LLP/Partnership Firm and
MOA & AOA in case of Company
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What is the Procedure for Startup India Registration?
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PARTICULARS
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PROCEDURE
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1.
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Online Application
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An Online Application can be made by the Startup Over the Mobile App or the Portal set up by the DPIIT (Department for Promotion of Industry and Internal Trade)
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Registration on the Portal
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New User can Click on ‘Register’ and provide details OR simply register using any of your social media accounts
Existing User: Can Login using credentials
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3.
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Insert the Required Details
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- Enter the required details like Nature of Entity, Industry, Sector, Company Incorporation Date, PAN, Registration Number etc.
- Complete Address of the Entity
- Details of the Authorised Representative
- Details of the Partners / the Directors
- Details of funding received, if any
- Such other details/information as may be required.
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Attachments
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Following documents are required to be attached with the application:
a) A Copy of Certificate of Incorporation or Registration Certificate as the case may be; and
b) A write up about the nature of business reflecting how it is working towards innovation, development or improvement of products or processes or services, or its scalability in terms of employment generation or wealth creation.
c) Declaration as Authorization to submit application for Startup India Recognition
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5.
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Consideration of Application By DPIIT
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The DPIIT may ask for such documents or information and making such enquiries, as it may deem fit-Further it can:
a) Recognise the eligible entity as Startup; or
b) Reject the application by providing reasons
It is always suggested that you seek help of a Professional Firm who can help you in your journey. For any query, you may contact us.
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Features of Startup India Registration
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Recognition and Benefits: Official recognition as a startup, allowing access to various benefits and incentives.
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Funding Opportunities: Eligibility for government grants, funds, and venture capital support.
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Tax Exemptions: Benefits like tax holidays and exemptions on profits for a specified period.
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Simplified Compliance: Reduced regulatory burden with simplified processes and easier compliance norms.
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Networking Opportunities: Access to a vast network of industry experts, mentors, and investors.
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Government Support: Assistance in obtaining necessary permits and licenses through government channels.
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Access to Incubators: Connection to incubators and accelerators for mentorship and resources.
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Intellectual Property Facilitation: Support for faster patent registration and protection of intellectual property.
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Capacity Building: Training and workshops to enhance entrepreneurial skills and business management.
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Market Access: Opportunities to connect with potential customers and clients through government platforms.
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