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Introduction

The Startup India Scheme was launched by the Indian government in 2016. The development of companies, the creation of jobs, and the creation of money are the key goals of Startup India.

Startup India has launched a number of initiatives aimed at fostering a thriving startup environment and changing India into a land of job creators rather than job seekers. The Department of Industrial Policy and Promotion is in charge of these programmes (DPIIT).

Eligibility for Startup India Scheme

1. The business must be registered must be registered as

  •  Private Limited Company under Companies Act, 2013

  •  Limited Liability Partnership under the Limited Liability Partnership Act, 2008

  •  Partnership Firm under the Partnership Act, 1932

2. In any of the financial years since incorporation/registration, the business's turnover has not exceeded Rupees 25 crores.
1. The business must be registered must be registered as

  •  Private Limited Company under Companies Act, 2013

  •  Limited Liability Partnership under the Limited Liability Partnership Act, 2008

  •  Partnership Firm under the Partnership Act, 1932

2. In any of the financial years since incorporation/registration, the business's turnover has not exceeded Rupees 25 crores.
3. The company is working on product or process or service innovation, development, or enhancement, or if it is a scalable business model with a strong potential for job creation or wealth creation.
4. The business will be recognised as a start-up for a period of seven years from the date of incorporation/registration; however, for biotechnology start-ups, the time may be extended to ten years from the date of incorporation/registration. Any entity formed through the division or reconstruction of an existing business is not regarded a 'Start-up'.
3. The company is working on product or process or service innovation, development, or enhancement, or if it is a scalable business model with a strong potential for job creation or wealth creation.
4. The business will be recognised as a start-up for a period of seven years from the date of incorporation/registration; however, for biotechnology start-ups, the time may be extended to ten years from the date of incorporation/registration. Any entity formed through the division or reconstruction of an existing business is not regarded a 'Start-up'.

Process

01

Form a Private Limited Company, a Limited Liability Partnership, or a Partnership Firm.

02

Obtain a PAN for the company.

03

Apply for MSME registration for the company.

04

Write a quick summary of the following
What is the problem that the startup is attempting to solve?
What is the startup's plan for resolving this issue?
What distinguishes the startup's offering from others?
What is the startup's revenue model?
Information on any awards or recognition the startup has won.

05

Submit an application with supporting documentation, such as a certificate of incorporation or registration, to www.startupindia.gov.in

Start-Up India Hub will review the application and if the application fulfils the Start-up India guidelines and conditions, will grant recognition as a Startup and will issue the Certificate of Recognition.

You focus on your company. We make it happen. Unstoppable Growth.

Documents

  •  PAN card

  •  Director’s Complete Profile Verification Details.

  • Written Proof related to your official website/link.

  • Start-up’s incorporation or Registration Certificate

  •  Details about patent and trademark

  • Articles of Association/Incorporation

  • A Non – Disclosure Agreement

  •  Employee Contract and Offer Letters

  • Shareholder’s Agreement

  •  Bylaws

  •  Intellectual Property Assignment Agreement

  •  Founder/Co-Founder Agreement

  • Business Plan

Benefits

A recognised start-up receives the following benefits, according to DIPP guidelines:

Self-certification is required for compliance with nine environmental and labour regulations.
Exemption from paying taxes: Exemptions on capital gains and investments above Fair Market Value are available for a period of three years.
Easy company dissolution: Under the 2016 Insolvency and Bankruptcy Code, you have 90 days to file.
IPR protection and a startup patent application: Filling patents can be done faster and with up to an 80% discount.
SIDBI Fund of Funds: Funds for Alternate Investment Funds to invest in startups.

Highlights

1. Exemption under 80-IAC
A Private Limited Company or a Limited Liability Partnership incorporated on or after April 1, 2016, but before April 1, 2021, can file a petition for income tax exemption separately for three years under Section 80-IAC of the Income Tax Act after receiving recognition as a "Start-up" under the Start-up India Scheme.
2. Exemption under 56(2)(viib)
A Private Limited Company that meets certain conditions after being recognised as a "Start-up" under the Start-up India Scheme can petition for Angel Tax (Tax on Share Premium) exemption under Section 56(2)(viib) of the Income Tax Act.
The Department will issue a Tax Exemption Certificate to the Start-up after reviewing the application,
documents, and information, and deeming it appropriate. Only after acquiring the Certificate will
the Start-up be eligible for income tax exemption.

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Got a question?
We've got answers.

Can a foreign company register under the Startup India hub?

Any entity that has at least one registered office in India can register itself on the hub, since the location preferences, for the time being, are only created for Indian states. However, soon the government hopes to start registrations for stakeholders from the global ecosystem too.

Do one need to print an application form and submit the physical copy of the same to complete the process of Startup registration?

For how long would recognition as a "Startup" be valid?