What is the Startup
Startup Definition under Startup india Scheme
Your company must meet the following criteria to be considered eligible for DPIIT startup recognition:-
Entity should not have been formed by splitting up or reconstructing an already existing business
Should work towards development or improvement of a product, process or service and/or have scalable business model with high potential for creation of wealth & employment
To be eligible for DPIIT startup recognition, your company must meet the following requirements:
Period of existence and operations should not exceed 10 years from the date of incorporation
Incorporated as a Private Limited Company, a Registered Partnership Firm, or a Limited Liability Partnership
Should have an annual turnover not more than Rs. 100 crore for any of the financial years from its registration
Entity should not have been formed by splitting up or reconstructing an already existing business
Should be developing or improving a product, process, or service, or have a scalable company model with strong potential for wealth growth and job creation.
Mandatory documentation and information necessary for IMB certification for Indian startups
Certification from IMB is necessary to obtain tax exemptions. The following records are needed to obtain IMB Certification:
- Incorporation Certificate
- Startup India Registration certificate
- Summary of the Startup's business activities
- A letter of funding from angel investors (if any)
- A recommendation letter from an established competitor (if available)
- Patent applications published in journals (if any)
- If applicable, a recommendation from the incubators
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