iStart Rajasthan is a flagship program by the Department of Information Technology and Communication, Government of Rajasthan to foster innovation, create jobs and facilitate investment in the State. iStart is a comprehensive, integrated platform, which is a one-of-its-kind, single window resource for startups, investors, incubators, accelerators and mentors. The focus of this initiative is on idea stage, early stage and startups with MVP (Minimal Viable Product). In this article, we will look at the iStart Rajasthan in detail.
Know more about How to Create a Successful Startup
Features of iStart Rajasthan
The features of iStart Rajasthan is explained in detail below:
- This iStart helps the startups minimise the bureaucracy associated with the initiation of startup operations.
- Startups who want to work in Rajasthan can visit the iStart portal and all the requirements concerning the startup ecosystem like registering, approval or applying for funds can be accomplished via this platform.
- This platform also facilitates the startup to connect with thousands plus investors which are already on-boarded on the platform.
- All startups are evaluated via QRate program, which is recognised all over India by leading investors and VCs.
Note: QRate program is a rating mechanism which helps startups evaluate themselves and provides avenues for self-improvement.
Key Benefits for Startups
By registering Startups in iStart Rajasthan, the entrepreneur will avail the following benefits:
- Avail Multiple Government Services
- Pitch to Investors
- Scale up your business
iStart Rajasthan for Startups
The startup is an entity that develops a business model based on some innovation and makes it scalable for achieving commercial success. The applicability of startups for registering in the iStart portal is explained in detail below.
Startups registered as incorporated as a private limited company (as per the Companies Act, 2013) or a limited liability partnership (LLP) under the Limited Liability Partnership Act, 2008 or registered as a partnership firm (under Section 59 of the Partnership Act, 1932) is eligible for iStart Rajasthan registration.
- According to the Department of Industrial Policy and Promotion (DIPP) and the Union Ministry for Commerce and Industry, above-mentioned entities will be considered as start-up up to seven years from the date of registration.
- In the case of startups in the biotechnology sectors, the period will be up to 10 years from the date of its registration.
- The turnover of the startup should not exceed Rs.25 Crore.
- The entity should be working towards innovation, development or improvement of products or processes
- The scalable business model with a high potential of employment generation or wealth creation is eligible for iStart registration.
- If an entity is formed by reconstruction or splitting up of existing businesses will not be considered as a start-up.
For the iStart initiative, the startup selection is sector agnostic and are focused on providing innovative solutions in social and clean-tech, mobile and information technology, Internet of Things, ‘IT for X’ in areas of garment and crafts, mining and SME manufacturing and services, and disruptive ideas/technologies in any sector.
iStart Nest Incubator
iStart Nest, Rajasthan Government’s incubation centre is the only centralised incubator in the nation providing free incubation to emerging the startups. The incubation program is formulated to help startups gain traction through deep mentor engagements, rapid iteration cycles, and fundraising preparation. iStart Nest offers state-of-the-art facilities at its incubation centre with a wide range of resources and mentoring from the industry tycoons. iStart Nest programme works with an extensive network of investor, accelerator and mentors to help new entrepreneurs launch and grow the innovative companies.
iStart Rajasthan hots mentoring sessions that are designed to help startups gain traction through deep mentor engagement, rapid iteration cycles and fundraising preparation.
Bhamashah Startup Promotion Fund
In order to have the right mix in its startup portfolio, and as a part of the iStart initiative, the Government of Rajasthan has announced Bhamashah Startup Promotion Fund of Rs.500 crore, which will include components for women-led and green solutions startups and has earmarked Rs.100 crore and Rs.50 crore for both respectively.
Funds for green startups
The funds for green startups will be payable from the funds available with Rajasthan State Pollution Control Board. The funding has been capped at 25 lakhs per startup. The amount is based on the Qrate rankings which are based on the Qrate Assessment Framework. Startups are ranked as Bronze and Silver (capped at 15 Lakhs), Gold and Platinum (capped at 20 Lakhs) and Signature (capped at 25 Lakhs). Fund will be provided in terms of loan and equity to startups registered in Rajasthan.
Qrate is the only startup rating mechanisms in our country, accepted by all leading VCs and Investors. It is an assessment program which furnishes a detailed report on the startup’s potential and investment worthiness.
- The health check-up report from a diagnostic lab helps to identify problem areas and take corrective action to improve entrepreneurs health, the scorecard and assessment report gives startup founders actionable insights to help you strengthen your business plan, and improve their chances of getting funded.
- Under this program, boot-camps are organised to refine their product, strategy, business plans, market position and to work over their shortcomings and limitations.
To register startups in iStart Rajasthan, the following general eligibility criteria for registration:
- All Residents of the Rajasthan
- All Udhyog Industries or Businesses of Rajasthan
- All State Government servants of Rajasthan (SIPF Users)
To register in iStart, the entrepreneur needs to get a registration ID of Rajasthan SSO portal. To obtain SSO OD, the following are the essential documents.
- Bhamashah ID Card
- Aadhaar Card
- Google Login Credentials
- Facebook Login Credentials
- SIPF ID (for government employees)
- BRN Number (for Udhyog)
Procedure to Register Startups in iStart Rajasthan
The procedure for registering startups in the iStart portal is explained in detail below:
Step 1: Access the home page of iStart Rajasthan. From the main page click on Startup option, the list of startup information will be displayed. Select startup registration option.
Step 2: The link will be redirected to Rajasthan SSO portal. The Entrepreneur can create SSO ID online by following the steps mentioned below:
New User Registration
Step 3: In case you are a new applicant of SSO portal, you have to register in the SSO portal to avail all the services offered by the Rajasthan Government. Click on the “Register” option for New User Registration.
Step 4: Then the applicant will redirect to the SSO registration page. The registration page will appear with the below – mentioned options.
- Government Employee
Registration Process for Citizens
Step 5: You have to select the citizen tab and then click on the enter button, Then the applicant can register using one of the five digital identities through,
- Facebook account
- Bhamashah account
- Google account
- Twitter account
A local digital identity provided by the central government, which is linked to the individual’s bank accounts.
Step 6: Applicant can have to enter the mobile number that is already linked with the Aadhar card number.
Step 7: After registering at SSO portal, you can log in to SSO portal using the login credentials.
Registration Process for Government Sector Employees
The government employees need to select “Government Rajasthan Employees” option and then click on the Enter button. After that, you need to enter the details of the SIPF number and password. After registering at SSO, you can log in to the portal using the SSO.
Registration Process for Private Sectors Udyog (Industries)
The Udyog (Industry owner) can register for SSO portal by selecting the Udyog option and then click on the enter button. Furnish any of the following two numbers.
- Business Registration Number (BRN)
- Udyog Aadhaar Number (UAN) and Aadhar Number
Once the entrepreneur login to the SSO portal, the startup can be registered in the iStart Rajasthan.
Application Process Flow through e-Mitra Kiosk
The entrepreneur can also apply for the startup registration through various e-Mitra kiosks, where the person has to pay requisite fee for e-Mitra services for filing the registration.
The applicant must carry their scanned copy of photos and signature softcopy, that would be used while applying. The user must also attach the upload or attach the requisite documents while applying for the registration if asked by the official department.
Note: By following the same way, the incubators and mentors can register in the iStart portal.
Track Startup Registration Status
Access the home page of iStart Rajasthan. From the main page click on Startup option, the list of startup information will be displayed. Select check status option.
The link will be redirected to Rajasthan SSO portal. By login to the portal, you can check the status of Startup registration.
Post by Renu Suresh
Renu is experience content writer specialised in compliances and company rules.