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About Startup India
Startup India is an initiative by the Government of India aimed at fostering entrepreneurship and promoting innovation across the country. Launched in 2016, it provides various incentives, support measures, and policy reforms to nurture startup ecosystems and facilitate their growth. The initiative offers access to funding, mentorship, incubation facilities, and tax benefits to startups. It aims to create a conducive environment for startups to thrive, generate employment, and contribute to economic growth. Through Startup India, the government seeks to build a robust ecosystem that encourages risk-taking, fosters innovation, and positions India as a global hub for startups and entrepreneurship.
Requirement for Startup India
COI
An application form duly signed
Description of Business
Details of Directors/Partners
Details of Authorized Representative
A Brief about business and products/services and notes on innovations
Revenue model and Uniqueness of the Product
Self-Certification
WHO ARE ELIGIBLE FOR STARTUP INDIA
In India, the eligibility criteria for availing benefits under the Startup India initiative include:
- Entity Type: The startup should be registered as a private limited company, a partnership firm, or a limited liability partnership (LLP) under the Companies Act, 2013, or the Limited Liability Partnership Act, 2008.
- Date of Incorporation: The startup should have been incorporated or registered within the last ten years from the date of application. For biotechnology startups, this period is extended to 15 years.
- Turnover Limit: The startup’s turnover in any of the previous financial years should not exceed ₹100 crore.
- Innovation and Scalability: The startup should be working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property.
- Certification: The startup should obtain a Certificate of Recognition from the Department for Promotion of Industry and Internal Trade (DPIIT) to avail benefits under the Startup India initiative.
Additionally, startups may need to meet specific criteria to qualify for certain benefits under the Startup India scheme, such as tax exemptions, self-certification under labor laws, and access to funding and mentorship programs.
It’s important for startups to review the eligibility criteria and guidelines specified by the Government of India and DPIIT to ensure compliance and maximize the benefits available under the Startup India initiative.