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"Startup India" is a government initiative in India launched in 2016 to foster entrepreneurship and support the growth of startups. It aims to create a conducive environment for startups by offering benefits like simplified registration, tax exemptions, and access to funding and mentorship programs. The initiative focuses on addressing challenges faced by startups and promoting innovation and job creation. It has played a significant role in boosting the startup ecosystem in India and attracting investment in various sectors.
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Entity must be incorporated as a private limited company, registered partnership firm, or limited liability partnership in India.
The entity should be within ten years from the date of incorporation/registration.
Turnover for any financial year should not exceed INR 100 Crore.
The entity should not have been formed through reconstruction or split of a previous company.
Focus on innovation, development, improvement of products or processes, or a scalable business model with high potential for employment generation or wealth creation.
Approval from the Department of Industrial Policy and Promotion (DIPP) required.
Self-certification with 9 Labour Laws and Environment laws
Intellectual Property Rights (IPR)
Relaxation in Public Procurement Norms
Faster Exit for Start-ups
Tax Exemption
Seed Fund Scheme
Exemption for The Purpose of Clause (Viib) Of Sub-Section (2) Of Section 56 Of the Act
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To register your startup, you need to visit the Startup India official website and fill out the registration form. You will be required to provide details about your business, such as the nature of your startup, business model, and contact information. The registration process involves self-certification of compliance with certain criteria.
Startups from various sectors, including technology, manufacturing, services, and social sectors, are eligible to apply for recognition under Startup India. The initiative is open to both product-based and service-based startups, as well as scalable and innovative businesses. However, certain criteria related to age and turnover limits may apply.
Yes, foreign nationals and NRIs are eligible to register their startups under Startup India. However, at least one of the startup's promoters must be an Indian citizen or resident. The initiative encourages global participation and offers benefits to startups with foreign participation.
Startup India facilitates access to funding through various means. It has partnered with financial institutions, venture capital funds, and angel investor networks to provide funding support to eligible startups. Additionally, the initiative has introduced measures like the Startup India Seed Fund and the Fund of Funds for startups to enhance funding opportunities.
Yes, Startup India offers support for IP protection. It has launched schemes like the Intellectual Property Rights (IPR) Facilitation for Startups to help startups file patents, trademarks, and designs. The initiative provides financial assistance and guidance in protecting and managing the IP assets of startups, encouraging innovation and safeguarding their ideas.
Yes, startups recognized under the Startup India initiative are eligible to avail various government schemes and grants. The government has introduced schemes like the Fund of Funds for Startups (FFS) and Credit Guarantee Fund for Startups (CGFS) to provide financial support and assistance to eligible startups. These schemes aim to facilitate funding, research and development, and innovation activities for startups across different sectors. Startups can explore these opportunities to accelerate their growth and development.