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:
The startup must meet the following eligibility criteria to avail the DPIIT Certificate of Recognition:
The entity should follow the below-mentioned simple steps to get the DPIIT certificate of recognition.
As stated above, the entity must first incorporate the business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership (LLP).
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The business needs to be registered with the Startup India Scheme to get the DPIIT certificate of recognition.
The applicant unit need to access the Start-up India Recognition portal for Register with Start-up India to get the DPIIT Certificate of Recognition for Startups.
Provide the following details in the Start-up Recognition application :
The DPIIT Certificate of Recognition for Startups will be issued after examination of the application and documents submitted.
Once the ministry approves the application and provides the unique startup recognition number, the startup can be registered with tax benefits.
The startups can avail the following benefits after obtaining the DPIIT Certificate of Recognition for Startups:
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.
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.
According to the Insolvency and Bankruptcy Code, 2016, the company can be wound up within 90 days of applying for insolvency
The startups will be eligible for Rs.10000 crore funds of funds from the Alternative Investment Funds.
The startups can avail Rs.2000 crore Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI over 4 years
In the case of funding, receiving the Proof of Funding is required for getting the Startup Recognition Certificate.
Or any awards received by the entity
The patent should be published in the patent journals.
Write up on the brief description of business. Details of how a startup is working for innovation, the scope of products and services, scalability in terms of employment generation or wealth.
Certificate of Incorporation or the registration of an entity certificate
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Last updated: Apr 20, 2023
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