Startup India Registration

Startup India Registration has lately become a fanfare with budding entrepreneurs willing to step up the game and begin their own businesses. In supporting their long-term vision, the Government of India has made it easier and more effective by serving the incentives on a silver platter and contributing to this newly proposed initiative. To elaborate on this, Startup India registration is a process that allows startups to register with the Department for Promotion of Industry and Internal Trade (DPIIT). The registration provides various benefits and incentives to startups, such as tax exemptions, funding opportunities, and access to government schemes.

So, if you are ready to embark on an exciting journey of growth and success, let us dive in and unlock the doors to your startup's unlimited potential.

With DPIIT recognition, companies can easily receive the recognition, granting them benefits such as tax benefits, easier compliance, and faster IPR tracking.

Your startup needs to fulfil the following eligibility criteria to acquire DPIIT Startup recognition under Startup India- 

• Company Age:- A Company’s existence or operations must not exceed ten years from its incorporation date.
• Company Type:- Registered as a Private Limited Company, Registered Partnership Firm or Limited Liability Partnership.
• Annual Turnover:- Should have an annual turnover not exceeding Rs. 100 crores for any of the financial years since its Incorporation.
• Original Entity:- A business should not be formed by splitting up or reassembling an existing one.
• Innovative & Scalable:- Propels innovation, process improvement, and/or scalable business models that create wealth and employment.

The Startup India Initiative by the Government of India has in store various benefits for the businesses, that allows them to relive benefits including-

• Startups can self-certify regulatory compliance for about six labour laws and three environmental laws in an online procedure. 
• As per the labour laws, no inspections will be conducted for a period of 5 years. However, these inspection-like audits will only be conducted in response to credible and verifiable complaints of violations filed in writing and approved by at least one level higher than the inspecting officer.
• In the environmental laws, startups falling under the white category (as approved by the Central Pollution Control board) becomes eligible to self-certify themselves with only random checks carrying out the process.

• 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).
• A letter of support by an incubator, which is funded (in relation to the project) by the Government of India as part of any specified scheme to promote innovation.
• A letter of recommendation (regarding innovative nature of business), from an Incubator, recognized by the Government of India in DIPP specified format.
• 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 the innovative nature of the business.
• A letter of funding by the Government of India or any State Government as part of any specified scheme to promote innovation.
• A patent was filed and published in the Journal by the Indian Patent Office in areas affiliated with the nature of the business being promoted.
• Incorporation/Registration Certificate
• Description of your business in brief
• A brief description of the innovative nature of your products/services.

Starting a business can be challenging, but with the right guidance, you can unleash your full potential and navigate the complexities of the startup ecosystem. Whether you're a tech enthusiast, a creative genius, or a social entrepreneur, this comprehensive guide will walk you through each stage of the registration process, from understanding the eligibility criteria to accessing the benefits and incentives offered by the government. 

Look no further as we present a step-by-step guide to Startup India registration, where dreams turn into successful ventures.

Step 1:- Incorporate your business. 

For any business to operate or establish, you must classify them (clearly) under a Private Limited Company, Partnership Firm, or Limited Liability Partnership by registering with the Registrar of Companies (ROC). With this, you must follow the procedures from registering with the submission applications to acquiring an incorporation certificate. 

Step 2:- Register on Startup India Portal

The first step is to register on the Startup India portal. It is an online and simple process. Click on 'Register" and add the necessary details such as name, address, mobile number and password. Soon after receiving an OTP email or adding the requested details, such as the seed/stage of a startup, you need to click on the 'submit' button. With this, your Startup India profile will be made. Now once it is created-

• Apply for mentorship programmes.
• Access to resources like Learning and Development Programs.
• Government Schemes, State policies for Startups and pro-bono services.

Step 3:- Obtain DPIIT Recognition

Once your profile is made, obtain DPIIT Recognition. You may find a “Registration " tab on Startup India & seek DPIIT Recognition. For instance, this registration will help you attract benefits, such as access to property services and resources, relaxation in public procurement norms, self-certification under labour and environment laws, three consecutive years of tax exemption and tax exemption on investments above fair market value. 

Step 4- Recognition of Application

Once you have completed the above step, visit the startup recognition form. Fill in the needed details, and once you do, accept the terms & conditions by clicking on the 'submit' button. 

Step 5:- Documents for registration

In the next step, you need to provide the documentation required for Startup India Registration, which is as follows-

• Authorization letter of the authorized representative of the company, LLP or partnership firm
• Proof of concept like pitch deck/website link/video (in case of a validation/ early traction/scaling stage startup)
• Patent and trademark details, if any
• List of awards or certificates of recognition, if any
• PAN Number

Step 6:- Recognition Number 

Once you have completed the necessary procedures, you will receive a recognition Number. In addition, a recognition number is usually issued after the documents are examined (issued within two days after submitting the application online). For instance, during the verification process, ensure there are no discrepancies during the documentation procedure. In the unlikely event that it is discovered, you will be required to pay a fine equal to 50% of your startup's paid-up capital, with a minimum fine of Rs. 25,000.

Therefore, you must follow these steps to help you complete the process of Startup India Registration.

Looking to kick-start your entrepreneurial journey in India?

See no further than Corpseed! Our team of experts boasts years of experience and extensive knowledge of Startup India Registration, ensuring that you receive the best possible guidance and support throughout the registration process.

We understand that navigating the intricacies of DPIIT Registration can be daunting, so we offer comprehensive consulting services to our clients. Our team is well-versed in all aspects of the registration process, from eligibility criteria to documentation requirements, and we are committed to helping you achieve your startup goals. Let Corpseed be your guide to Startup India Registration and take the first step towards realizing your entrepreneurial dreams. Contact us today to learn more about our services and how we can help you achieve your goals.