Benefits of Maharashtra State Innovative Startup Policy 2018
Self-certification allowed for selected government compliance and no inspection will be conducted for 7 years.
- Start-ups in manufacturing sector can apply for tenders as they are now exempted from the criteria of “Prior Experience/ turnover”.
Access to value-added services including legal, financial, IP, cloud and mentorship to start-ups across Maharashtra.
- Recognized Startups or Innovators renting will have rebate on Stamp duty & registration fees:- First 3 years:-100%
Next 3 years:- 50%
80% rebate of Patent filing fees-·2 Lakhs for Indian patents and 10 Lakhs for International Patents.
- Private incubators will undertake minimum 10% product or service procurement from start-ups they promote and mentor
Relaxations for asset light start up to take registration under The Shop and Establishment Act at residential address
- Start-up can get reimbursement of SGST.
80 % Rebate of quality testing cost incurred at BIS(Bureau of Indian Standards)-accredited facilities.
- To Expedite the launch of products and services,3 world class accelerators will be established .
For capital access Government has setup several funds like fund of funds, Crowdfunding, CSR Funds, Infrastructure fund, Alternative Investment Fund
CRITERIA FOR STARTUP
- Private Limited company/Partnership Firm/Limited Liability Partnership Incorporated/ Registered in Maharashtra working towards Innovation, development or improvement of product and services,
- with turnover not exceeding 25 crores
- Considered as startup for 7 Years, (10 years for startup in biotechnology and social sector ) from date of Incorporation/ Registration.
How to Register under Maharashtra State Innovative Startup Policy 2018
With Maharashtra State Innovation Society (MSInS)
1.TO REGIISTER
Go to https://msins.in/ and Click on register to create an account by Email verification
2. TO LOGIIN
Once the Email verification is completed, Click on login button on https://msins.in/ and login with your Email and password
3. CREATIION OF BUSIINESS PROFIILLE
After Login, Click on Business Profile ·Fill information in sections with following attachments:-Companies PAN, Udyog Aadhar, GSTIN, Registration certificate, Pitch deck and DPIIT Recognition Certificate.
After creation of business profile, Your startup is registered with MSInS.
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