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Startup India Registration
Online Startup India Registration is a process for registering a startup company in India through the government’s Startup India initiative. The objective of the initiative is to promote entrepreneurship and innovation in India by providing various benefits and support to startups. The online registration process is a simple and streamlined way for entrepreneurs to register their startups and avail of the benefits offered by the government.
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Overview of Startup India Registration
In 2016, the Indian government launched the Startup India programme. The primary goal of this programme is to encourage the creation of new businesses in India. The government has taken several important steps under this scheme to create a strong startup environment and make India a country of job creators rather than job seekers.
- The Startup India Scheme is managed by the Department of Industrial Policy and Promotion (DPIIT).
- By establishing work prospects in the Indian economy, the startup India registration process has extended the scope of development.
- A startup is a new or tiny business that is launched by a single person or a group of people.
- Â Online Startup India Registration process is a helpful initiative for entrepreneurs in India, as it provides a supportive ecosystem for startups and helps them to grow and succeed.
- The benefits of registering a startup through the Startup India initiative include access to funding, tax exemptions, and regulatory support.
- Startups can also avail of various schemes and programs offered by the government, such as the Startup India Seed Fund Scheme and the Credit Guarantee Fund Scheme.
Advantages of Startup India Registration
| Tax Advantage | Startups registered under the Start-up India scheme are eligible for a three-year tax exemption. Angel Tax relief is offered under section 80IAC and section 56 of the Internal Revenue Code |
| Participation in Tender | In several tenders, the government and PSUs provide relief for startups. They are authorised to compete in tenders for governmental procurement jobs. Relaxation in past experience, EMD, or Turnover criteria are also advantages |
| Government Funding Opportunity | The government has set aside Rs 10,000 crore in Alternate Investment Funds to invest in businesses. SIDBI is in charge of the fund’s management. Under this quota, all startups are able to apply |
| Participate in a various of government programmes | The government issues several government initiatives on a daily basis to encourage startups to participate. For example, raw material support, a sustainable finance plan, and bank credit facilitation |
| Simple Winding Up | The procedure of winding up a business becomes simple, and it only takes 90 days under the Insolvency and Bankruptcy Code of 2016 |
| Joining Networks | The advantage of startups is that they assist businesses in expanding their networks and seeking larger connections. These startup companies look for and connect with several large companies in order to receive mentorship. The ability to interact with investors and sectors is extremely beneficial to new businesses |
| Self-Certification | Startups can self-certify their compliance with nine distinct labour rules and nine different environmental laws |
| Patent Filling Rebate | Startups registered under the Startup India scheme would receive an 80 percent discount on patent application fees |
| Trademark Filling Rebate | The government promises to provide start-ups participating in this scheme a 50% discount on trademark filing fees |
Registration Process of Startup India Registration
Step 1: Visit the Startup India website: The first step in registering your startup is to visit the Startup India website (https://www.startupindia.gov.in/) and create an account.
Step 2: Fill out the registration form: Once you have created an account, fill out the registration form with your startup details, such as the name, address, and type of business. You will also need to provide information about the founders and directors of the startup.
Step 3: Provide additional documents: Along with the registration form, you will also need to provide additional documents, such as a business plan, incorporation certificate, and PAN card details of the founders.
Step 4: Self-certify compliance: As part of the registration process, you will need to self-certify compliance with various laws and regulations, such as the Companies Act, 2013, and the Income Tax Act, 1961.
Step 5 : Submit the registration form: Once you have filled out the registration form and provided all the necessary documents, submit the form online.
Step 6: Get recognized as a startup: After submitting the registration form, your startup will be recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) and you will receive a certificate of recognition.
Documents Required of Startup India Registration
Certificate of Registration
It is critical that you upload your company/certificate LLP’s of incorporation (Registration Certificate in case of partnership).
- Email address and phone number, as well as contact information
- Company information, such as the industry, sector of employment, category of dealing, registered office address, and so on.
- In the event of early traction and validation, evidence of concept such as a pitch deck, video, or website link is required.
- The information about the company’s Directors or Partners, including their name, photo ID, gender, phone number, email address, and address).
- The authorised representatives’ information ( Name, contact details, Designation, Email ID).
- Revenue model and product differentiation
- PAN information.
A Short Business Description
Give a brief summary of your company’s innovative character.
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