Startup India Registration
Introduction
Startup India Registration is a government initiative aimed at encouraging innovation and promoting a strong startup ecosystem in India. Startup India Registration is a voluntary process initiated by the Government of India to promote and support startups in the country. It is aimed at providing recognition and various benefits to eligible startups. Here’s a comprehensive overview of the registration process, eligibility criteria, benefits, and the documents required:
Eligibility Criteria
- The startup must be incorporated as a private limited company, partnership firm, or a limited liability partnership.
- It should be less than 10 years from the date of incorporation/registration.
- The startup’s annual turnover must not exceed INR 100 crores for any of the financial years since incorporation.
- The entity must not have been formed by splitting up or reconstructing an already existing business.
- The startup should work towards innovation, development, or improvement of products, services, or processes and have a scalable business model with high potential for employment generation or wealth creation.
Procedure to Get DPIIT Certificate
- Register on the National Single Window System website(www.nsws.gov.in).
- Register the entity based DSC on the website.
- Fill out the online application with details about the entity, directors/partners, and the business.
- Upload the necessary documents.
- Self-certify compliance with certain labor and environmental laws.
- Upon verification, DPIIT will issue a recognition certificate.
Benefits for DPIIT Recognized Startups
- Intellectual Property Rights (IPR) benefits such as fast-tracking patent applications and 20% rebate of fees on filing patents.
- Tax exemptions under Section 80IAC and on investments above fair market value. DPIIT recognized startups can apply for Angel Tax Exemption.
- Easier public procurement norms, with exemption from the requirement of earnest money deposit.
- Self-certification under labor and environmental laws. The entity will be permitted to self-certify compliance under 3 Environmental Laws and 6 Labour Laws.
- Access to a network of facilitators for IPR and funding support.
Mandatory Documents Required
- A letter of authorization for the authorized representative.
- Incorporation/Registration Certificate of the startup.
- Details of the business and its partners or directors.
- Proof of concept like a pitch deck/website link/video.
- Patent and trademark details, if any.
- Any proof of funding, awards, or recognitions received.