STARTUP  REGISTRATION

The Government of India's flagship program, Startup India, aims to foster a startup culture and create a robust, inclusive environment that supports innovation and entrepreneurship in the country.

This startup India mission launched by government of India on 16-01-2016. Under this startup program various types of schemes and facilities were introduced. This startup initiative was launched with the motive to support entrepreneurs, to create an environment for startups and to convert India as a country into a job-creators instead of job-seekers. It is a vision to enrich the economic system of India.

Under this various key facilitations and support given by the government of India. It includes, easy govt. norms related to entry & exit of startups, legal and technical assistance, fast track application process and approvals. It also provides different types of tax benefits, exemptions, financial assistance like: infusion of capital with relaxed norms and credit guarantee schemes. The govt. also provides incubation and business & industrial academics support too.

Startup India Recognition

DPIIT-Recognised Startups are eligible for the following benefits:

1. Intellectual Property Rights (IPR)
2. Fund of Funds for Startups (FFS)
3. Credit Guarantee Scheme for Startups (CGSS)
4. Startup India Seed Fund Scheme (SISFS)
5. Relaxation in Public Procurements Norms
6. Self-Certification under Labour & Environment laws
7. Easy and Smooth Exit for Startups
8. Tax exemptions under section 56 (2)VIIB
9. Program & Challenges on startup India website

The startups recognised by DPIIT can also get listed as sellers on the Government of India’s largest e-procurement portal i.e., Government e-market place: www. gem.gov.in.

The startups recognised by DPIIT can also become preferred bidders on CPPP portals eprocure.gov.in & etenders.gov.in.

The startups can also get waivers & exemptions with certain conditions under Labour laws & environmental laws.        

The startup India opens global market, information and knowledge access and exchange of the same. Under the global agreements between the countries promoting the startups leads to connect the aspiring startups, incubators, accelerators and aspiring entrepreneurs of both countries by:

• Exchange of Knowledge
• Motivating Networking Opportunities
• Capacity Building Platform via holding of workshops etc.
• Hosting of Joint Programs

• Intellectual Property Rights (IPR)

The aim is to make startups aware of IPRs and encourage them to adopt IPRs. This is to help and support them in protecting and commercialising the IPRs.

In order to achieve the objective govt. is providing top notch IPRs resources to the startups. It includes fast tracking of startup patent application, facilitators to give support and advise in filing of IP application and process. It also provides general advisory on various IPRs and information on protecting and promoting IPR’s globally. The government is also giving rebate in filing of patents and trademarks.

• Fund of Funds for Startups (FFS)

The government has created a corpus fund of INR 10,000 crores, which is managed & administered by SIDBI, in order to provide and offer equity capital support for the smooth growth & development of innovation-driven firms. The nature of the fund is: Fund of Funds, implying that the government invests share in the capital of SEBI-registered Venture Funds that make twice the amount of investments in startups. The flow of funds is:

Government     ►      SIDBI       ►      Venture Capitals      ►      Startups

• Credit Guarantee Scheme for Startups (CGSS)

The aim of this CGSS is to provide a guarantee to the Member Institutions (MIs) for the finance given by them to the Startups.

Under this scheme MIs provide collateral free financial assistance to the startups. MIs check and verify the feasibility and viability of the startup project. They also ensure the creditability on the grounds of compliance and eligibility parameters based on guidelines.

Parallelly, MIs also apply & secure guarantee cover via National Credit Guarantee Trustee Company Limited (NCGTC) portal.

• Startup India Seed Fund Scheme (SISFS)

As per the scheme named, this scheme aims to give a financial support to the startups for their proof of seed-idea and concept, initial proto type development, trials, entry into market and further commercialization. Educating them so that they can raise investments from venture capitalists and loan from the banks or financial institutions.

List of documents :

-Certificate of Incorporation

-Pitch Deck

-Copy of Aadhar & Pan

-Memorandum of Association (MOA)

-Article of Association (AOA)

-Proof of Funding, if any

-Email & Contact detail of the directors