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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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