Article explains What Is Start-Up , Process Of Recognition Of Start-Up, Benefit of Registration Of Start-Up, Information and Documents Required For Application / Recognition as Of Start-Up and Simple Steps to Recognition / Register Your Start-Up In Start-Up India Portal.
1. What Is Start-Up
An entity shall be considered as a Start-up:
a) if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India; and
b) up to seven years from the date of its incorporation/ registration; however, in the case of Start-ups in the biotechnology sector, the period shall be up to ten years from the date of its incorporation/ registration; and
c) if its turnover for any of the financial years since incorporation/ registration has not exceeded Rupees 25 crores; and
d) if it is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
Provided that any such entity formed by splitting up or reconstruction of a business already in existence shall not be considered a ‘Start-up’.
The process of recognition as a ‘Start-up’ shall be through an online application made over the mobile app/ portal set up by the Department of Industrial Policy and Promotion. Entities will be required to submit the online application along with the Certificate of Incorporation/ Registration and other relevant details as may be sought. Start-ups also have to submit a write-up about the nature of business highlighting how is it working towards innovation, development or improvement of products or processes or services, or its scalability in terms of employment generation or wealth creation.
– Current number of employees (including founders)
– What is the current stage of development of your product / service?
– Has your start-up applied for any IPR (Intellectual Property Right) ?
– Is the start-up creating an innovative product / service / process or improving an existing product / service / process*
– Is the start-up creating a scalable business model with high potential of employment generation or wealth creation?
– What is the problem the startup is solving?
– How does your startup propose to solve this problem?
– What is the uniqueness of your solution?
– How does your startup generate revenue?
Step- 001 :
You must first incorporate your business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership
Visit Start-up India Recognition portal for Register with Start-up India.
Provide the information Like Organisation details, full address of the registered office and List of Directors/ Partners etc.
Upload PDF documents.
Answer some questions
Step -006 :
Accept the Terms & Conditions and Submit.
Start-up India Team send Certificate after verification of information and documents.
Please send us one liner/ your requirement on firstname.lastname@example.org, our team will get back to you within 24 hrs.
(Republished with Amendments)