Start Up India Registration

START-UP INDIA RECOGNITION

Start-up India is an initiative by the Indian Government aimed at building a robust ecosystem to foster innovation and start-ups in the country, leading to sustainable economic growth and employment generation. The movement strives to empower start-ups through innovation and design.

The Start-up India program has several objectives, including providing enhanced infrastructure such as incubation centers, IPR facilitation through easier patent filing, and creating a better regulatory environment with tax benefits, simplified compliance, and faster company set-up processes. The program also aims to increase funding opportunities and provide a vast networking database for entrepreneurs and stakeholders in the start-up ecosystem.

Objective & Benefits of The Movement:

• Improved Infrastructure
• IPR Facilitation.
• Improved Set-up Process, Fast mechanism
• Increasing Funding Opportunities
• Providing access to a sizable network database
• For a period of five years, there won’t be any inspections of labor regulations. Only after receiving a credible, verified, written, and approval by at least one level higher than the inspecting officer complaint of a violation may start-ups be examined.

Eligibility for Startup India Registration

• To be eligible for the benefits of the Startup India scheme, the organization must meet certain criteria. It must be a private limited company or a limited liability partnership and should not have been in existence for more than 10 years since its incorporation or registration. Additionally, the enterprise’s annual turnover should not have exceeded 100 crores for any financial year since its inception.
• The key objective of the startup must be to develop, innovate or improve services or processes with the aim of creating employment or generating wealth. It is important to note that the startup must not be formed by restructuring or dividing any existing business.
• To be eligible for the Startup India program, a company must have received approval from the Department of Industrial Policy and Promotion (DIPP), which stipulates that the company must also have a sponsor guarantee from the Indian Patent and Trademark Office and be supported by an incubation fund, an angel fund, or a private equity fund. Also, the startup should provide original concepts, goods, or services..
• Capital gains from the startup are exempt from income tax under the Startup India scheme. Additionally, entities such as Angel Funds, Incubation Funds, Accelerators, Private Equity Funds, and Angel networks must be registered under SEBI (Securities and Exchange Board of India).

The Registration process of Startup India

For businesses that are not registered under the proprietorship form of business organization, the following steps are necessary for incorporation:

The entity must first incorporate the business as a Limited Liability Partnership, a Private Limited Corporation, or a Partnership firm (LLP).

To receive the DPIIT certificate of recognition, a business must be registered with the Startup India Scheme.

To obtain the DPIIT Certificate of Recognition for Startups, the applicant unit must access the Start-up India Recognition portal and register with Start-up India. Some details are needed to be presented:

• Details: Nature, Industry, Sector, Categories & Company Incorporation Number, Registration Date
• Full Address
• Details of the Authorized Representative
• Directors or Partner Details
• Details of Intellectual Property Rights
• Details of funding
• Recognition received by the entity

Startup Recognition Number:

You will immediately receive a recognition number after submitting this registration. After the authority has reviewed all of your uploaded documents, only then do you receive the certificate of registration or incorporation.

REQUIRED DOCUMENTS:

• Director’s Complete Profile Verification Details.
• PAN Card Number
• Written Proof related to your official website, link, or pitch deck. Needed for validation, speaking, early traction, or a staged startup.
• Startup’s incorporation or Registration Certificate.
• Details about patent and trademark.
• Trademark
• Articles of Association/Incorporation
• A Non-Disclosure Agreement (NDA)
• Employee Contracts and Offer Letters
• Shareholder’s Agreement