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Startup India. A flagship Scheme for Boosting Entrepreneurship

Startup India.

For those of us who are looking for financial support and have the innovative and creative ideas for a startup  but do not have the support may well try this Government of India initiative to fund their venture. On 16th Jan 2016, Prime Minister Mr. Narendra Modi announced bunch of benefits and schemes to promote start-up ecosystem in India. The event was called ‘Startup India, Stand up India’.

Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and Startups in the country. This will drive sustainable economic growth and generate large scale employment opportunities. The Government, through this initiative aims to empower Startups to grow through innovation and design.

In order to meet the objectives of the initiative, Government of India announced an Action Plan that addresses all aspects of the Startup ecosystem. With this Action Plan, the Government hopes to accelerate spreading of the Startup movement from digital/ technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, education, etc.

Eligibility criteria for a “Startup”.

  • be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an Incubator established in a post-graduate college in India; or
  • be supported by an incubator which is funded (in relation to the project) from GoI as part of any specified scheme to promote innovation; or
  • be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an Incubator recognized by GoI; or
  • be funded by an Incubation Fund/Angel Fund/ Private Equity Fund/ Accelerator/Angel Network duly registered with SEBI* that endorses innovative nature of the business; or
  • be funded by GoI as part of any In specified scheme to promote innovation; or
  • Have a patent granted by the Indian Patent and Trademark Office in areas affiliated with the nature of business being promoted.

For further enquiry or on frequently asked questions kindly follow through the Startup India website link:

 (http://startupindia.gov.in/uploads/pdf/Startup_India_FAQs.pdf)

Also you could contact or do correspondence to the below:

Startup India Hub
Toll Free Number: 1800115565
Working Hours: 10:00 AM to 5:30 PM (Monday to Friday)

Email: dipp-startups@nic.in

 

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How to register a startup in India/how to register a company in India

How to register a startup in India/how to register a company

Many people now want to avail the benefits of startup India initiative and want to know about the registration process of a company in India be it a Trust, NGO, Private limited company, Partnership and Sole Proprietorship.

As on January 16. 2016, the Prime Minister of India, Shri Narendra Modi announced a new initiative called Startup India a government of India Initiative to promote budding entrepreneurs by creating enabling environment and system that is conducive startups.

Eligibility or entitlement of the startup shall be following.   

  • Private Limited Company (The Companies Act,2013)
  • Registered Partnership Firm (The Indian Partnership Act,1932)
  • Limited Liability Partnership (The Limited Liability Partnership Act,2008)
  • Also one-person companies are also eligible under the Start-up India Initiative.

For requirements are needed in order for a start up to be considered eligible for the initiative.

  • An entity is considered as startup up to 5 years from the date of its incorporation/ registration
  • Its turnover for any of the financial years has not exceeded INR 25 crore
  • It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property
  • It is supported by a recommendation (innovative nature of the business), OR by an incubator funded by Gol, OR is funded by Gol, OR is granted a patent or trademark in association with nature of business

Process for the registration of the startup

Process 1: An entity can register itself through MCA or Registrar of Firms using the existing processes and subsequently register itself on the Startup India portal and mobile app as a “Startup” to avail the benefits.

Process 2: An entity can register itself through the Startup India portal and mobile app using a seamless process. This facility would be made available in the second phase of the Startup India portal and mobile app launch.

  1. Log in to Startup India Portal(http://startupindia.gov.in/registration.php)
  2. Choose your legal entity
  3. Input your incorporation/registration number
  4. Input your incorporation/registration date
  5. Input PAN number (optional)
  6. Input your address with postal code & state
  7. Input authorized representative details
  8. Input director(s)/partner(s) details
  9. Choose and upload supporting documents and self-certification
  10. Incorporation/registration certificate of company/LLP/Partnership
  11. Registration to avail tax and IPR
  12. Certify the official notification terms and conditions
how to register a startup in india
how to register a startup in india