Start Up India Scheme Online Registration

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Start Up India Scheme Benefits | Start Up India Scheme Eligibility | Start Up India Scheme Documents Required | How To Apply For Start Up India Scheme Online | Start Up India Scheme Online Registration: Startup India is a government initiative launched in January 2016 to promote and support entrepreneurship and startup businesses in India. The program includes a number of initiatives and measures aimed at providing financial, technological, and mentorship support to startups, as well as creating a conducive ecosystem for the growth of new businesses. Some of the key features of the Startup India program include tax exemptions, simplified procedures for setting up a business, and access to funding and incubation facilities. The program also focuses on promoting innovation and encouraging the development of new technologies.

Start Up India Scheme Online Registration

Start Up India Scheme Objective:

The main objectives of the Startup India scheme are:

  1. To encourage entrepreneurship and promote innovation by providing financial, technological, and mentorship support to startups.
  2. To create a conducive ecosystem for the growth of new businesses by simplifying the process of setting up a business and providing access to funding and incubation facilities.
  3. To promote the development of new technologies and industries, with a focus on sectors such as biotechnology, information technology, and clean energy.
  4. To foster a culture of entrepreneurship and innovation in the country, particularly among young people and women.
  5. To promote the growth of startups and make India a hub for innovation and entrepreneurship.
  6. To encourage the development of startups in Tier 2 and Tier 3 cities.
  7. To help startups create jobs and spur economic growth.
  8. To improve the ease of doing business in India.

Start Up India Scheme Main key Features:

The main features of the Startup India scheme include:

  1. Tax Exemptions: Startups can avail tax exemptions on capital gains and income tax for the first three years of their operation.
  2. Easy Compliance: Startups can self-certify compliance under various labor and environment laws and there’s a fast-track mechanism for patent examination and trademark registration.
  3. Funding Support: Startups can access funding through a number of government-backed venture capital funds and angel investment networks.
  4. Incubation Support: Startups can access incubation facilities and mentorship programs through a number of government-supported incubators and accelerators.
  5. Intellectual Property Rights: Startups are provided with an easier process for filing patents and trademarks, and with a 80% reduction in patent fee.
  6. Simplified Process for Setting up a Business: Startups can now register a company in a single day through a fully online process.
  7. Credit Guarantee Fund: A credit guarantee mechanism has been set up to provide collateral-free credit to startups
  8. Innovation Centres: Government will set up 7 new research parks and incubators in premier educational institutions, to provide startups with access to cutting-edge technology and equipment.
  9. Startup Fests: The government organizes annual startup fests to provide networking and showcase opportunities for startups
  10. sector-specific support: Government has also initiated sector-specific support for startups working in areas like agriculture, biotechnology, and clean energy
  11. Start-up India Hub: A virtual platform that serves as a single point of contact for the entire startup ecosystem, to enable knowledge exchange and access to funding.

Benefits of Start Up India Scheme:

The Startup India scheme offers a number of benefits for startups, including:

  1. Financial support: Startups can access funding through a number of government-backed venture capital funds and angel investment networks.
  2. Tax Exemptions: Startups can avail tax exemptions on capital gains and income tax for the first three years of their operation.
  3. Incubation Support: Startups can access incubation facilities and mentorship programs through a number of government-supported incubators and accelerators.
  4. Intellectual Property Rights: Startups are provided with an easier process for filing patents and trademarks, and with a 80% reduction in patent fee.
  5. Easy Compliance: Startups can self-certify compliance under various labor and environment laws and there’s a fast-track mechanism for patent examination and trademark registration.
  6. Simplified Process for Setting up a Business: Startups can now register a company in a single day through a fully online process.
  7. Credit Guarantee Fund: A credit guarantee mechanism has been set up to provide collateral-free credit to startups
  8. Innovation Centres: Government will set up 7 new research parks and incubators in premier educational institutions, to provide startups with access to cutting-edge technology and equipment.
  9. Startup Fests: The government organizes annual startup fests to provide networking and showcase opportunities for startups
  10. sector-specific support: Government has also initiated sector-specific support for startups working in areas like agriculture, biotechnology, and clean energy
  11. Start-up India Hub: A virtual platform that serves as a single point of contact for the entire startup ecosystem, to enable knowledge exchange and access to funding.
  12. Ease of doing business: The scheme improves the ease of doing business in India by reducing the compliance burden on startups, and simplifying the process of setting up and running a business.
  13. Job Creation: By promoting startups, the scheme aims to create jobs and spur economic growth.
  14. Encourage Entrepreneurship: The scheme aims to encourage entrepreneurship and innovation, particularly among young people and women.

Start Up India Scheme Criteria and Eligibility:

The Startup India scheme has certain criteria and eligibility requirements that startups must meet in order to access its benefits. The main criteria and eligibility requirements are:

  1. The startup should be incorporated as a private limited company, limited liability partnership or registered partnership firm, not prior to five years.
  2. The startup should be working towards innovation, development, deployment, or commercialization of new products, processes or services driven by technology or intellectual property.
  3. The startup should be working towards scalability and not just creating jobs.
  4. The startup should not be formed by splitting up or reconstruction of a business already in existence.
  5. The startup should not be engaged in any prohibited business activities as per the Industrial Policy of the Government of India.
  6. The startup should be recognized by the Department for Promotion of Industry and Internal Trade (DPIIT)
  7. The startup should have a recommendation (with respect to innovative nature of business), in a format specified by DPIIT, from any Incubator established in a post-graduate college in India; or
  8. The startup should have a recommendation (with respect to innovative nature of business), in a format specified by DPIIT, from any Incubator recognized by the Government of India; or
  9. The startup should have a funding of not less than 20% in equity by any Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network duly registered with SEBI that endorses innovative nature of the business.
  10. The startup should not have been formed by splitting up or reconstruction of a business already in existence
  11. If the startup is a biotechnology company, then it should have a certification from the Department of Biotechnology (DBT)
  12. Startups from the North East region should have a recommendation (with respect to innovative nature of business), in a format specified by DPIIT, from the State Government or Union Territory where the startup is registered.

How to Apply for Start Up India Scheme Online Registration:

To apply for the Startup India scheme, startups must first register on the Startup India website (www.startupindia.gov.in) and create a login ID. Once logged in, startups can then proceed with the online registration process, which involves filling out an application form and submitting the required documents. The process is as follows:

  1. Go to the Startup India website (www.startupindia.gov.in)
  2. Click on the ‘Registration’ button on the homepage
  3. Read the instructions and click on the ‘Proceed’ button
  4. Fill out the registration form with the required details, including the name of the startup, PAN number, GST number, and email address
  5. Upload the required documents, including the incorporation certificate, PAN card, GST registration certificate, and a recommendation letter from a recognized incubator or accelerator (if applicable)
  6. Click on the ‘Submit’ button to complete the registration process
  7. After submitting the application, the startup will receive a registration number, which will be required for availing the benefits under the Startup India scheme.

Note: The startup should be recognized by the DPIIT, in order to avail the benefits under the scheme. After the registration on the Startup India website, startups will have to apply for recognition by DPIIT via the same website.

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