What is Startup India?
Startups are becoming very popular in India. In order to develop the Indian economy and attract talented entrepreneurs, the Government of India, under the leadership of PM Narendra Modi, has started and promoted Startup India initiative to recognize and promote startups.
Startup India is launched in order to grow Indian economy and attract potential entrepreneurs. Startup India program helps the ease of doing business in India. More than 2,74,798 startups have been recognized as qualified for benefits under the scheme till now, More than 13782 startups have already started taking full benefits under the Startup India scheme. Some of the main benefits of this program include Tax exemption for start-ups for any consecutive three years, reduced fees for trademark and patent registration, a 90-day business closure process and many more
Benefits of Registration Under Startup Indian Scheme
Documents Required for Startup India Registration
(i) A recommendation (regarding innovative nature of business) from an Incubator established in a post-graduate college in India , in a format specified by the Department of Industrial Policy and Promotion (DIPP).
(ii) A letter of support by an incubator, which is funded (in relation to the project) by Government of India as part of any specified scheme to promote innovation.
(iii) A letter of recommendation (regarding innovative nature of business), from an Incubator, recognized by the Government of India in DIPP specified format.
(iv) A letter of 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.
(v) A letter of funding by Government of India or any State Government as part of any specified scheme to promote innovation.
(vi) A patent filed and published in the Journal by the Indian Patent Office in areas affiliated with the nature of the business being promoted.
b) Incorporation/Registration Certificate
c) Description of your business in brief
A brief description of the innovative nature of your products/services.