A Start-up comes into
existence when a founder comes up with a great idea accompanied by an
execution plan that can potentially change the way an Industry works
and/ or gives a solution to a specific consumer need.
In a view to support such ideas for
creating a better future, developing an effective Start-up ecosystem,
and catalyzing the creation of employment opportunities through them in
the country, The Government of India has launched a Startup India
Initiative as their flagship scheme to promote innovative ideas and
incentivize the entrepreneurs for setting up their ventures.
These programs are managed by a dedicated Startup India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT)
Do you have a Startup?
Then you must meet the following
criteria to be considered eligible for DPIIT Startup recognition to
avail of the benefits declared by the Central/ State government(s) from
time to time:
- Company Age: Period of existence and operations should not be exceeding 10 years from the Date of Incorporation.
- Company Type: Incorporated as a Private Limited Company, a Registered Partnership Firm, or a Limited Liability Partnership
- Annual Turnover: Should have an annual turnover not exceeding Rs. 100 crores for any of the financial years since its Incorporation
- Original Entity: Entity should not have been formed by splitting up or reconstructing an already existing business.
- Innovative & Scalable:
Should work towards development or improvement of a product, process,
or service and/or have a scalable business model with high potential for
the creation of wealth & employment.
More Info : Documents Required For Startup Registration