Benefits of a Recognised Startup
Startup India Registration
Start-up India Scheme is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities.
Asper the guidelines of DIPP, a recognised start-up gets the following benefits:
- Self-Certification: For Compliance under 9 environmental & labour laws
- Tax Exemption: Income Tax exemption for a period of 3 consecutive years and exemptions on capital gains & investments above Fair Market Value.
- Easy winding up of company: Within 90 days under insolvency & Bankruptcy code 2016.
- Startup Patent Application and IPR protection: Fast track & up to 80% rebate in filling patents.
- Easier Public Procurement Norms: Exemption on EMD and minimum requirements. Get listed as a seller
- SIDBI Fund of Funds: Funds for investment into startups through Alternate Investment Funds.
1. Register the business as a Private Limited Company / Limited Liability Partnership / Partnership Firm
2. Obtain PAN for the Business
3. Obtain MSME Registration for the Business
4. Make a brief writeup on the following:
- What is the problem the startup is solving?
- How does the startup propose to solve this problem?
- What is the uniqueness of solution by the startup?
- How does the startup generate revenue?
- Details of any awards/recognition received by the startup
5. File application to DIPP with supporting documents such as Certificate of Incorporation / Registration
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.