It's Fast. It's Furious. It's Startup. KickStart your Startup Now!
Startup India Registration (Consultancy)
About the Startup India Recognition Scheme?
Under the Startup India Action Plan by Govt. of India, a Startups which meets the criteria as laid down by the govt through notification are eligible to get recognized under the scheme. It is here important to know what a Startup means and how can your startup be eligible for the recognition.
What is a
Startup?
A startup is a newly established business, usually small, started by 1 or
a group of individuals. What differentiates it from other new businesses is
that a startup offers a new product or service that is not being given
elsewhere in the same way. The keyword is innovation. The business
either develops a new product/ service or redevelops a current product/service
into something better.
Eligible Startup
Govt. of India has decided to promote the Start-Up ecosystem in the
country. In this connection, various incentives and ease in regulatory
compliance provisions are being conceptualized. Start-Ups are defined by
Department of Industrial Policy and Promotion (DIPP), as an entity shall be
considered as a eligible Startup to apply for recognition in following cases:
1. If it is incorporated as a Private
Limited Company (as defined in Companies Act, 2013) or a registered Partnership Firm (registered under section 59 of the Partnership Act, 1932) or
a Limited Liability Partnership (under the LLP Act, 2008) in India up to a period of 10 years
from the date of incorporation/registration.
2. Turnover of the entity for any of
the financial years since incorporation/ registration has not exceeded Rs. 100
crore.
3. Entity is working towards
innovation, development or improvement of products or processes or services, or
if it is a scalable business model with a high potential of employment
generation or wealth creation.
Provided that an entity formed by splitting up or reconstruction of an existing business shall not be considered a ‘Startup’
From the above information, it is clarified that only eligible startups can apply for the scheme. If you are a startup, then our consultants can surely consult you that how your startup can also be eligible for the scheme and assist you in submitting the requirements.
