Startup India Registration

Startup India is an Indian Government initiative that is intended to build a strong eco-system for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities. Through this initiative, the government aims to empower Startups to grow through innovation and design.

The objectives of the Startup India Movement are outlined below. The action plan envisages supporting the startups and more:
* Enhanced infrastructure, including incubation centres
* IPR facilitation, including easier patent filing
* The better regulatory environment, including the tax benefits, easier compliance, improved setting up of a company, fastest mechanism and more.
* A goal to increase the funding opportunities
* Provide a vast networking database for the entrepreneurs and other stakeholders in the startup ecosystem.

Eligibility Criteria

Period of Existence of Entity: The Period of existence and operations of the company should not exceed 10 years from the date of formation

Type of Entity: The DPIIT Certificate of Recognition is provided for the company which is incorporated as a Private Limited Company, a Limited Liability Partnership (LLP) or a Registered Partnership Firm.

Annual Turnover: To get the DPIIT Certificate of Recognition, The firm should have an annual turnover of Rs. 100 crore for any of the fiscal years since its federation

Original Entity: To avail the DPIIT Certificate of Recognition, the company should not have been incorporated by splitting up or recreating an already existing entity.

Innovative & Scalable Entity: The entity should be working towards development or improvement of a product, process or service.

The entity should have a scalable business model with high potential for the creation of wealth and employment. The firm should have the potential to generate employment or create wealth.

Benefits for DPIIT Recognized Startups

The startups can avail the following benefits after obtaining the DPIIT Certificate of Recognition for Startups:

Self Certification

After obtaining the DPIIT Certificate of Recognition for Startups, the entity will be allowed to self-certify compliance under 3 Environmental Laws and 6 Labour Laws.

Start-Up Patent Application

The DPIIT recognized startups are required to pay only 80% of the fees on Patents, trademark, copyrights and design, and the fast-tracking of a patent application will be available for startups.

Easier Public Procurement Norms

* The DPIIT recognized startups will get an opportunity to list the product on Government e-Marketplace.
* DPIIT recognized startups are exempted from submitting Earnest Money Deposit
* Exemption from Prior Experience/Turnover is provided for Start-ups in all Central Government ministries and departments.

Easy winding up of Company

According to the Insolvency and Bankruptcy Code, 2016, the company can be wound up within 90 days of applying for insolvency

Funds of Funds

The startups will be eligible for Rs.10000 crore funds of funds from the Alternative Investment Funds.

Credit Guarantee fund

The startups can avail Rs.2000 crore Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI over 4 years

Tax Exemptions

* After obtaining the Certificate of Recognition, the startup can apply for Tax exemption under section 80 IAC of the Income Tax Act.
* The DPIIT recognized startups can apply for Angel Tax Exemption.
* After obtaining the clearance for Tax exemption, the DPIIT recognized startups are exempted from income tax for 3 consecutive fiscal years out of its first ten years since formation.

Why Choose FilingsZone ?

FilingsZone is a trusted partner for entrepreneurs and startups seeking recognition and registration under the Startup India initiative. With our expertise and in-depth knowledge of the regulatory landscape, FilingsZone simplifies the complex process of obtaining startup India recognition. We offer comprehensive services that include preparing the necessary documentation, guiding you through the eligibility criteria, and ensuring compliance with all the requirements set forth by the Department for Promotion of Industry and Internal Trade (DPIIT).

By choosing FilingsZone, startups can navigate the bureaucratic hurdles seamlessly, allowing them to focus on their core business activities while reaping the benefits and incentives offered under the Startup India program.