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Startup India Registration by DPIIT with pitchdeck.
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The Startup India Registration is the process of registering a startup with the Government of India under the Startup India Scheme. The scheme was formulated by the Indian Government to promote and support the growth of startups in India. The scheme also aims at providing easier access to capital, incubation, mentoring as well as networks. If you are about to register your startup under this scheme, then this is for you!
There are several reasons why you should register your startup under Startup India Scheme. Some of them are:
Startups are now given an income tax exemption for a period of three years from the date of incorporation provided they are certified as such by the Inter-Ministerial Board of Certification. Also, upon obtaining recognition from the DPIIT (Department for Promotion of Industry and Internal Trade), and if the aggregate amount of paid-up share capital and share premium of the startup after the proposed issuing of shares, if any, does not exceed INR 25 Crore, the startup will also be exempt from capital gains tax under Section 56 of the Income-tax Act,1961-2014.
Startups are given a rebate on intellectual property rights (IPR) costs of 80% on patents and 50% on trademarks and are actively assisted by government-provided facilitators who aid with protecting and commercializing the IPRs. The examination and disposal of the IPR applications are also fast-tracked. The government will also pay the fees of the facilitators.
Startup registration in India is still extremely complex, with incorporation and registration being considered more difficult than the actual running of a business due to the arduousness of the requirements. Under the scheme, the Startup India Hub, a portal to create networking opportunities and assistance for startups, has been created with a problem-solving window being provided by the government under the scheme.
Certain states provide seed funding to startups certified under the scheme. To know about your state and the requirements in place, click here.
Under the Startup India Scheme, startups are allowed to self-certify compliance for six labour laws and three environmental laws through a simple online procedure. For labour laws, no inspections will be conducted for a period of 5 years unless there is a credible and verifiable complaint of violation, filed in writing, and approved by an official who is at least one level senior to the inspecting officer. In the case of environmental laws, startups that fall under the ‘white category’ (as defined by the Central Pollution Control Board) would be able to self-certify compliance, and only random checks would be carried out in such cases
Once your startup is certified by the Inter-Ministerial Board of Certification and a DIPP (Department of Industrial Policy and Promotion) number has been issued to you, you can get listed as a seller on the Government of India’s e-procurement portal – Government e-Marketplace – and have the inside track on all Government of India Ministries/Departments/Public Sector undertakings subject to your ability to meet quality and technical requirements. Certified startups will also be entitled to exemptions on the earnest money deposit in your bid as well as in terms of the requirements regarding prior turnover and experience.
The government has initiated provisions making winding down operations easier by appointing an insolvency professional to fast-track the closure of operations and facilitate the sale of goods as well as paying creditors, all while recognising limited liability. Startups with a simple debt structure or those meeting the criteria outlined under this scheme will be able to achieve a complete exit within 90 days.
The following documents are required for Startup India Registration:
The startup registration process is straightforward and can be done online.
The first thing you need to do is to create a profile for your startup on the Startup India website. You can do so by opening the website and filling up the form with your business details. Make sure you choose the type of user as ‘a startup’
Once your profile is created you will have access to multiple programs and benefits available under the scheme. There are many useful resources that become handy here.
After creating a profile, you can apply for Department for Promotion of Industry and Internal Trade (DPIIT) recognition by clicking on “Get Recognised” button on the website and fill up the “Startup Recognition Form”. On completion of DPIIT recognition, you get the following benefits:
Along with the application, submit the required documents. Make sure that the documents are valid and are scanned clearly to avoid rejection of or delay in registration.
After submitting the form, you need to wait for approval. This usually happens within two days. Meanwhile, a recognition number will be received to check the status of application.
The last step in Startup India online registration is receipt of Certificate of Recognition. It can be downloaded from Startup India portal.
Penalty for uploading forged, manipulated or wrong documents or not uploading required documents is 50% of paid-up capital with a minimum limit of Rs. 25,000.
Yes, a foreign company can register under the Startup India hub. The company should have a permanent establishment in India to be eligible for registration.
Once registration is confirmed under the Startup India Scheme, Certificate of Recognition would be generated in the portal. It is the proof of registration.
The Company will be recognised as a startup as long as it fulfils the criteria for a startup given by the Government.
Can an existing entity register itself as a Startup on the Startup India Portal?
Yes, you are free to avail multiple incentives but it is possible only if your application is accepted and meets all the eligibility criteria of the concerned incentives.
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