Overview

Startup India action plan was introduced to boost the start-ups in India and its aim to enhance the economic growth in India. On 16th of April, 2016, Startup India initiative was announced by the honourable prime minister of India. Primary objective of the initiative was to promote the entrepreneurship and innovation of individuals.  Startup India registration also known as DPIIT recognition, as it was launched by government of India to support and encourage the startups.

Startup India initiative will open a door of opportunities for emerging entrepreneurs and provide them a positive environment for sustainable growth in the county. Under the Start-up India Action Plan, startups should meet the eligibility criteria as prescribed under G.S.R notification 127(E) to become eligible for startup India registration.

Why

1. Reduction in cost: - The list of facilitators was provided by the government, it assists startups with the intellectual property right services and quick examination of patents that too at the lower fees. Startups are supposed to receive pleasure with 80% reduction in cost of filings patents.

2. Easy access to funds: - Immense amount of 10,000 crore INR is set by the Government of India as a fund to be provided startups as a venture capital under startup India registration. Government also encourage banks and financial institutions to offer venture capital to start-ups.

3. Tax exemption: - Start-ups under startup India Action Plan are entitled to get a relaxation from tax too, they can be exempted for the 3 years from income tax provisions.

4. Apply for tenders: - Startups may apply for government tenders as they received relaxation from experience and turnover criteria, which is generally applicable for the companies while applying for government tenders.

5. Meet other entrepreneurs: - Indian government also conducts startup fests annually at national and international level, so that entrepreneurs can come to contact to create new opportunities, it enhance collaboration and innovation.

Process

1. Online Application: - Applicants or startups shall file online application through the official website of NSWS, set by the DPIIT (Department for Promotion of Industry and Internal Trade).

2. Registration: - New users can create their profile and register their organisation based DSC on the portal, Then select the central approval as startup and proceed.

3. Fill Required Details: - Enter all the required details of the business and owners such as nature of the entity, industry, sector, company incorporation date, PAN, registration number etc.

• Complete address of the entity
• Details of an authorized representative
• Details of partners/Directors
• Details of funding received (in any)
• Other details (if required)

4. Attach Documents: - Provide the attached copies of the required documents during online filing for startup India registration, also provide declaration as authorization to submit application.

5. Consideration of Application: - DPIIT may ask for more information or additional document to make queries clear. Officer can also reject your application by proving you reasons, hence make sure you have guidance of experts.

Documents

1. Registration certification for partnership and LLP
2. Certificate of incorporation for the company
3. PAN of entity
4. Details of entity (address, mobile number, email ID, industry)
5. Details of business, products, services, short write-up explaining how your products and services are unique and innovative including revenue model.
6. Proof of concept such as website, video (in case of validation, early traction and scaling stage startup)
7. Patent and trademark details in any
8. LLP agreement/partnership deed in case of partnership firm and LLp
9. MOA and AOA in case of a company

Fees

There is no government fee for startup India registration, as this initiative is to encourage young entrepreneurs

Time

In order to get the startup India registration done, it generally takes 3 to 4 working days.

FAQs