The Startup India programme is a commendable effort to promote entrepreneurship in India. It encourages bank financing, streamlines the incorporation procedure, and exempts entrepreneurs. However, you must qualify as a "Eligible Startup" in order to get all of these perks.
Prime Minister Narendra Modi announced the Startup India initiative on January 16, 2016. It was founded with the goal of creating a rapidly expanding startup environment for innovators and entrepreneurs. The primary goal of the Startup India initiative is to stimulate job creation, income creation, and innovative development ideas.
There are numerous advantages to registering with Startup India. The government is also granting three years of tax breaks to help startups. The government is also offering Startup India loans with lower interest rates. Startup India registration is available online.
You should have a distinctive and effective business idea before registering as a startup in India. The government is also providing several startup India perks such as reduced compliance, patent fee rebates, tax exemption for three tax years, and so on. The government is establishing a startup India hub to attract entrepreneurs and fresh inventors.
The Startup India Scheme is the country's major initiative to increase employment and income. The Government of India offers an online startup India registration service through the Startup India webpage.
Eligibility for DPIIT startup recognition, company must meet the following criteria:-
The following are some startup funding options:
1) Contributions from the public:-Crowdfunding is gaining popularity since it ensures that other experienced company participants also believe in your idea. Crowdfunding may also help in collecting crucial funds at the concept stage.
2) Self Funding:- Bootstrapping is an excellent method for raising capital for a company, especially if the first investment is modest. Enterpreneur has the opportunity to serve as his own boss. Enterpreneur is not accountable to anyone, yet he may also track the revenue and profits.
3) Venture Capitalists:- ypically, venture capitalists invests in companies with adequate traction and a strong management team. If enterpreneur decide to engage with venture capitalists, he must be willing to accept their advice and adhere to their strict oversight.
4) Angel Investors:- Angel investing has some drawbacks, such drawbacks are higher interest rates and lesser investments than venture capitalists, but it is important to note that Google, Yahoo, and even Alibaba were created as a result of angel investment.
The Process of Being Recognized as a Startup
1. What problem is the startup seeking to solve?
2. How does the startup intend to deal with this issue?
3. What sets the startup's solution apart from others?
4. How does the business make money?
5. A list of any awards or distinctions obtained by the startup.
Document Required to get Registered Under Startup India Scheme
Incorporation/Registration Certificate of your startup
Startup India Scheme has been initiated to increase employment, wealth, and high-quality goods and services. Its primary objective is to create a startup ecosystem for innovation and fresh, effective ideas that are rapidly expanding
Registration for a startup will be valid for ten years from the date of company formation.
No, without PAN, Startup India Registration can not be applied.
No, a non-Indian business cannot be register under Startup India Initiative.
The startup's annual revenue should not surpass Rs. 100 crore in any of its financial years since its registration.
There is no government fee for Startup India Registration. It is completely free to register under startup scheme.
All the benefits under Startup India Scheme are mentioned above.
Yes, you may submit another application.
All documents required for Startup India registration are listed above
Entrepreneurs with a novel and effective company growth concept can apply for Startup India registration under the Startup India programme.
Startups will be able to self-certify compliance with six labour regulations and three environmental rules through a simple online process. There will be no inspections of labour regulations conducted for five years. Startups may only be inspected if the examining officer has received a valid and proven allegation of violation, which must be provided in writing and be authorised by at least one level above the examining officer.
Two regulating agencies for Startup India Scheme are the Inter Ministerial Board and the Department of Promotion of Industrial and Internal Trade (DPIIT).
By registering for patent rights or a trademark, you may safeguard your creative concept.
We, at Knapadvisory.com, provide you the opportunity to register your startup under the Startup India Scheme. The entire procedure is conducted online.
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We have been especially crucial in ensuring startups are compliant with India's complex legal structure. We accept responsibility and obligation on behalf of the business owners and co-founders for adhering to all legal requirements. We strive to deliver a wide range of quick, effective, and compliance-focused services to any company or individual with a startup mentality. We are abide by our motto:- We Care, We Deliver, We Honor.