Central government is inviting online registration form of Startup India Scheme. This scheme is a very important government scheme for growing businesses in India, which was launched by the Central Government on 16 January 2016. The main objective of this Start Up initiative is to further promote the Start Up Business, thereby creating job opportunities.
Due to this scheme run by the Government of India, the economic development of the country will be increased. Plans for new business, connecting with experts, startup India Hub, and aspirations will benefit from guidance. In this article, we will provide information about online application, eligibility and necessary benefits of Startup India Scheme.
Startup India Scheme Registration
Startup India Scheme is an initiative by the Central Government to provide employment opportunities in the country. Startups, employment generation and wealth creation will be promoted through this scheme. Through this scheme, a number of programs have been launched to build a strong startup ecosystem in the country and convert job seekers into job creators.
The initiative envisages a 19-point startup India Action Plan which envisages several incubation centers, easy patent filing, tax exemption, ease of setting up business, Rs 10,000 crore fund and fast exit mechanism. These programs are managed by the Department of Industrial Policy and Promotion (DPIIT), to provide employment opportunities to unemployed people.
What’s the Definition of Startup?
A company recognized by the DPIIT for getting benefits from the Government of India which falls under the list below will be called “Startup”.
- Age of the Company – The Date of Incorporation should not exceed 10 years
- Type of Company – incorporated as a private limited company or a registered partnership firm or limited liability partnership.
- Annual Turnover – No turnover exceeding Rs.100 crore for any financial year since incorporation.
- Basic Unit – The company or entity was originally intended to be formed by the promoters and should not be created by divesting or rebuilding the existing business.
- Innovation and Scalability – Must have plans for the development or improvement of product, process or service and / must have a scalable business model with high potential for creation of wealth and employment.
Types of Company
Registration on the startup portal can be done only for the following companies:
- Partnership Firm
- Limited Liability Partnership Firm
- Private Limited Company
Eligibility for Startup Registration
- If a company is formed, that company must be a private limited company or limited liability partnership.
- The company should not be more than five years old, and if the total turnover of the company is more than 25 crores, then that company will not be eligible for this scheme.
- Any company should get approval from the Department of Industrial Policy and Promotion (DIPP).
- For the company to receive approval from the DIPP, the firm must be funded by an incubation fund, angel fund, or private equity fund.
- Any company or firm should seek a guardian guarantee from the Indian Patent and Trademark Office.
Benefits & Action Plan PDF of Startup India Scheme
The benefits of Startup India scheme are given below:
Avail DIPP Recognition Benefits
- Must comply with environmental and labor laws.
- Income tax (IT) exemption for 3 consecutive years and capital gains above fair market value and discount on investment.
- The company’s easy completion will take place within 90 days under the Insolvency and Bankruptcy Code 2016.
- Fast track in startup patent application and IPR protection and up to 80% discount on patent filling.
- Applications will be tracked faster so that value can be realized sooner.
- The Easy Public Procurement Criteria will provide discounts on EMD and minimum requirements and listing as a vendor.
- Funds will be provided to SIDBI Fund for investment in Startups through Alternate Investment Funds.
Startup India Learning Program
- Startup India courses will be started by start-ups to start their own business which will provide a free online entrepreneurship program to help people in developing the necessary skills.
- Design will be taught to take your service / product one step further.
- Creating your own app and web site will be taught through courses in web development and programming.
- Knowledge on AWS will be provided to build cloud infrastructure.
- The concepts of economics will be explained which will help in strategic decision making.
- Financial and legal courses ensure that people do it right from a legal and accounting point of view.
Access to Government Schemes
- You can browse through government schemes.
- Select the Aadhaar department to apply in the schemes.
- To apply for this scheme you have to visit the site.
- Bank credit facility will also be provided through this government schemes.
- Under this scheme, you will be able to take advantage of the Sustainable Finance Scheme.
- You will also be able to take advantage of the Raw Material Assistance Scheme.
Network with Experts and Startups
- Along with other startups you will be able to explore synergies from a pool of over 30,000 startups and entrepreneurs.
- You can get information about Aadhaar sector and domain expertise by talking to investors.
- With a pool of over 200 and active patrons growing under the guidance of mentors.
- One can explore Industry Connect through a host of industry experts and corporates on the Hub.
Startup India Scheme Registration & Login Procedure
In case you fulfill the eligibility criteria given above, you can register in online mode by following the given steps.
- All you have to do is visit the official website of Start-Up India. After this, the home page of the website will open in front of you.
- On the home page of the website, you have to click on the button of “Register” from the profile section. After this, the registration form will open in front of you.
- In this registration form, you have to enter the details of your personal information and click on the button of “Register“. You can now “Login” to the official portal to open the dashboard.
- Now you have to click on the option of “Application” from the section of “Start-Up India Services”. After this, the forel will open in front of you to register under this scheme.
- In this form, you will get the details of your personal information like-
- Legal Entity
- Incorporation / Registration No
- PAN Number (optional)
- address, Pin Code & State
- Authorized Representative
- Directors and Partners
- Upload the essential documents and self-certification in the prescribed manner
- Incorporation / Registration certificate of the company
- After entering the above information, click on the button of “Submit”.
In this way, you can complete the process of registration and login in online mode on the official website.
- Office Address
Helpline Contact Details
INVEST INDIA, 110, Vigyan Bhavan Annexe, 001, Maulana Azad Road, New Delhi 110 001, Phone – +91 011 2304 8155, Working Hours: 10:00AM – 5:30PM (Mon to Fri), Toll Free Number: 1800 115 565, Working Hrs: 10:00AM – 5:30PM, Email: firstname.lastname@example.org
We hope that you will definitely find information related to Startup India Scheme beneficial. In this article, we have tried to answer all the questions you ask.
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