Step-by-Step Guide: Startup India Registration in India

Introduction

• Startup India is a flagship program launched by the Government of India to support and nurture startups in the country.
• The program provides various benefits and incentives to eligible startups, such as tax exemptions, easier access to patents and trademarks, and funding support.
• The aim of the program is to promote entrepreneurship and encourage the growth of new and innovative businesses in India.

Things to know regarding the registration of Startup

To register as a startup in India, you need to follow the below steps:

1. Eligibility Criteria: To be eligible for the Startup India program, your company should be an Indian entity registered as a Private Limited Company, Limited Liability Partnership (LLP), or a registered partnership firm. It should not have been incorporated more than 7 years ago from the date of application. Additionally, the company should be working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property.
2. DPIIT Recognition: The next step is to apply for recognition as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT). You can do this by filling out the online application form on the Startup India website.
3. Document Submission: Once the online application form is submitted, you will be required to submit a set of supporting documents, including the PAN card of the company, a certificate of incorporation, a brief description of the product or service offered, and a resolution passed by the board of directors certifying that the company is a startup.
4. Approval Process: After submitting the required documents, the DPIIT will review your application and determine whether your company qualifies as a startup. If your company is recognized as a startup, you will receive a certificate of recognition from the DPIIT.
5. Benefits: Once you have received recognition from the DPIIT, you will be eligible for various benefits offered under the Startup India program, such as tax exemptions, easier access to patents and trademarks, and funding support through the Fund of Funds for Startups (FFS).
   

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It’s important to note that the recognition process can take several weeks or even months, depending on the volume of applications received by the DPIIT. You can track the status of your application on the Startup India website.

What are the benefits of signing up with Startup India?

The Startup India initiative provides several benefits to startups that are recognized by the Department for Promotion of Industry and Internal Trade (DPIIT):

1. Tax Exemptions: Startups recognized under the Startup India program are eligible for income tax exemptions for a period of three years.
2. Funding Support: Startups can access funding support through the Fund of Funds for Startups (FFS), which provides financial assistance to startups that are recognized by the DPIIT.
3. Intellectual Property Protection: Startups can take advantage of easier and faster access to patents and trademarks through the Intellectual Property Facilitation Center set up by the government.
4. Simplified Procedures: Startups can enjoy a simplified regulatory process, as the government has made it easier for startups to do business by reducing the number of compliances and simplifying the process of obtaining licenses and approvals.
5. Networking Opportunities: Startups can connect with other startups, investors, and mentors through various networking opportunities and events organized by the Startup India initiative.
6. Government Procurement: Startups recognized by the Startup India program are eligible to participate in government procurement, providing them with an opportunity to supply their products and services to the government.

Who can register in startup India?

To be eligible for the Startup India program, a company must meet the following criteria:

• Indian Entity: The company must be an Indian entity registered as a Private Limited Company, Limited Liability Partnership (LLP), or a registered partnership firm.
• Age of the Company: The company should not have been incorporated more than 7 years ago from the date of application.
• Focus on Innovation: The company should be working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property.
• No Prior Classification as a Startup: The company should not have been previously classified as a startup by any other government scheme.
• Turnover: The company’s turnover should not exceed INR 100 crore in the preceding financial year.
• In addition to these criteria, the company should also be able to demonstrate its potential for growth and scalability and provide a detailed plan for the same.
  

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For how long is a company recognized as a Startup?

A company is recognized as a startup for a period of 7 years from the date of its incorporation. However, the benefits and incentives offered under the Startup India program are available to startups for a period of 5 years from the date of recognition. The recognition as a startup may be reviewed by the Department for Promotion of Industry and Internal Trade (DPIIT) if the startup no longer meets the eligibility criteria or if there is a change in its status or operations.

What are the documents required for Startup India?

The following documents are required for Startup India registration:

1. Incorporation Certificate: A copy of the certificate of incorporation of the company or a copy of the partnership deed for a partnership firm.
2. PAN Card: A copy of the PAN card of the company or the partners of the partnership firm.
3. Bank Account Details: Details of the company’s current bank account, including the account number, IFSC code, and bank statement for the past 6 months.
4. GST Registration: A copy of the company’s GST registration certificate, if applicable.
5. Financial Statements: Audited financial statements of the company for the past 2 years.
6. Business Plan: A detailed business plan including the product or service offered, target market, market size, and the company’s growth plans.
7. Proof of Innovation: Proof of innovation, such as a patent application, a prototype, a demo video, etc.
8. Director’s Identification Number (DIN) of the directors of the company.
9. Digital Signature Certificate (DSC) of the authorized signatory of the company.
   

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Conclusion

• The registration process requires the submission of various documents, including proof of innovation, financial statements, and a detailed business plan.
• By registering under the program, startups can access a range of benefits and incentives, including tax exemptions, funding support, and easier access to patents and trademarks. Eligible startups must be Indian entities, less than 7 years old, working towards innovation, and have a turnover of less than INR 100 crore.

Frequently asked questions about  Startup India 

Q 1. Can a foreign company register under the Startup India hub?

Ans. No, a foreign company cannot register under the Startup India program, as the program is only available to Indian entities registered as a Private Limited Company, Limited Liability Partnership (LLP), or a registered partnership firm.

Q 2. What are the eligibility criteria for registering under the Startup India program?

Ans. To be eligible for the Startup India program, a company must be an Indian entity registered as a Private Limited Company, Limited Liability Partnership (LLP), or a registered partnership firm. It should not have been incorporated more than 7 years ago and should be working towards innovation, development, deployment, or commercialization of new products, processes, or services driven by technology or intellectual property. The company’s turnover should not exceed INR 100 crore in the preceding financial year.

Q 3. How do I apply for Startup India registration?

Ans. The application process for Startup India registration can be completed online through the official Startup India website. The process involves filling out an application form and submitting the required documents. The application will then be reviewed by the Department for Promotion of Industry and Internal Trade (DPIIT), and a recognition certificate will be issued if the startup is eligible.