Eligibility for Startup India registration - benefits, fees & process

The ambitious Startup India programme was introduced by the Indian government in an effort to promote entrepreneurship. The program's goal is to support entrepreneurs' innovation, expansion, and scalability.

Tax incentives and government funding for the programme are available to companies within 10 years of their incorporation. The goals of the government include promoting a thriving industrial environment and encouraging the next generation to embrace the entrepreneurial spirit.

Businesses must register with the DPIIT for startups recognition in order to receive the DPIIT's tools and support.

This article briefly discusses the Eligibility ,advantages and costs, of registering a startup under startup India initiative.

Startup India Certificate [Sample]

1- The originality of the entity:- To be eligible for DPIIT registration, startups must have been started as independent enterprises; they cannot have been created by splitting an existing firm.

2- Type of business structure:- To avail the benefits of the startup India registration programme, businesses are required to be registered under the following forms of business under the company act 2013.

• Partnership Firm
• Pvt Ltd Company
• One person Company
• Limited Liability Partnership

3- Annual Turnover of the company:- The annual turnover of the company shall not be more than Rs. 100 Crore during any financial year since its incorporation.

4- Existence period of the company:- Company should not be older than 10 years since the day of its incorporation.

4- Innovation & the scalable entity:- The ability to extend and think creatively are two requirements for business success. Any startup needs them to succeed. Entrepreneurs must have a strong business plan in order to register with DPIIT on the Startup India platform, therefore DPIIT thoroughly evaluates each application before accepting it as a participant in the Startup India programme.

1 - Incorporating a business:-

Prior to filing an application, the applicant must determine whether or not they are eligible for Startup India registration. They are required to register their entities as per the companies act 2013 under the following type of business structure.

• Partnership Firm
• Pvt Ltd Company
• One person Company
• Limited Liability Partnership

Only the businesses registered under the above categories can be considered for the startup India recognition.

2 - Profile creation on the portal:-

The user must next create a profile on the startup India website by completing an online form and providing the required information, such as an email address and one-time password (OTP), to verify the identification.

After successfully creating a profile, the applicant has access to the following benefits:

• Pro-bono Services
• Website Challenges
• Government Schemes
• State Policies for Startups
• Learning and Development Program
• Incubator/mentorship programs for startups

3 - DPIIT recognition for startups:-

After creating their profile, startups must apply for DPIIT approval. Applicants can access the application form for startup recognition from the dashboard. To continue with the procedure, you must fill in the required information.

The following documents are needed to be submitted by the entities for recognition of Startup India by DPIIT.

1. Authorization Letter
2. Companies PAN Card
3. Certificate of Incorporation
4. Director's Aadhar & PAN card
5. Passport-size photograph of the directors
6. Website or companies profile deck (if available)
7. Photo & video of products/services
8. Brief write-up on how the business is working towards

• Innovation in the industry
• High potential for wealth creation
• Potential for employment generation

Other certificates, if required

• GST registration
• Trademark registration
• Copyrights registration for IPR
• MSME registration, if available

The professional price for gaining DPIIT recognition under Startup India programs is 4,999 rupees only & the entire time it would take in the process would be 7-10 business days.

• Self-certification
• Easy winding up a process
• Liberty from 6 labour laws
• Tax exemption under section 56
• Exemption from 3 environmental laws
• Quick IPR and patents registration process
• Tax holiday under 80 IAC for 3 consecutive years
• Easy public procurement and tendering norms for the company

Note: Businesses with DPIIT registration are exempted from Earnest money deposition (EMD) during public bidding and procurements on etendering portals such as GeM portal.

Registration for a new business in India is quick and painless when you use the right tools. Our three-step process makes registering your company as a startup in India easy under DPIIT guidelines.

This moment in India's history marks the beginning of a period of unparalleled prosperity for the country's budding entrepreneurs. The government plays a crucial role in making India a technology superpower.

The Indian government's Startup India program acts as an intermediary between startups and the kinds of possibilities they might not be able to access on their own. Therefore the new businesses need to register themselves with DPIIT to take advantage of govt schemes & guidance.