Startup India Registration
Basic
- Pitch deck for the company
- Startup India / DPIIT Recognition certificate.
Startup India Registration
Startup India Registration
Are you ready to turn your entrepreneurial dreams into reality with your startup in India? The Startup India initiative, a flagship program by the Government of India, offers a comprehensive support system for emerging entrepreneurs. By obtaining Startup India Registration, you gain access to a wide array of benefits, such as tax exemptions, streamlined compliance processes, and unique funding opportunities. This registration provides formal legal recognition for your business while connecting you to a dynamic ecosystem of resources, enabling you to scale and thrive in the competitive market.
At Allycon, we are dedicated to simplifying the Startup India registration process, ensuring a smooth and efficient journey toward success.
Join India’s Booming Startup Ecosystem Today!
Startup India Scheme
Startup India is a transformative initiative launched by the Government of India in 2016 to foster the growth of startups and build a vibrant entrepreneurial ecosystem across the country. This scheme is designed to propel innovation and establish India as a global leader in technological advancement. By registering under the Startup India initiative, your startup can unlock numerous benefits, from financial incentives to access to key networks.
DPIIT Registration for Startups
To enjoy the benefits of the Startup India scheme, eligible companies need to secure recognition from the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry. With DPIIT recognition, startups gain access to the full suite of benefits available under this initiative, including tax exemptions, funding support, and relaxed compliance norms.
Eligibility Criteria for Start-up India Registration
- Business Structure: The startup must be registered as a Private Limited Company, Limited Liability Partnership (LLP), or Partnership Firm.
- Age of the Startup: The startup must not be older than ten years from the date of its incorporation. However, for startups in the biotechnology sector, the limit extends to 15 years.
- Annual Revenue: The startup’s annual turnover should not exceed INR 100 crores in any fiscal year since its inception.
- Innovation Focus: The startup must aim to innovate, develop, or commercialize new products, services, or processes driven by technology or intellectual property.
- DPIIT Recognition: The business must secure a startup India certificate from DPIIT to avail the benefits.
- Legal Compliance: The startup must comply with all relevant laws, including the Companies Act, Income Tax Act, and GST Act. A dedicated bank account must also be maintained in the startup’s name, and the business must provide these details during registration.
- Job Creation: The startup should contribute to employment generation or demonstrate potential for future job creation, aligning with the Startup India scheme’s mission to enhance employment opportunities.
Benefits Provided under the Startup India Scheme
- Reduced Costs for Patents and Trademarks: Startups can avail the services of government-approved facilitators to register patents, trademarks, and designs at an 80% discount on official fees.
- Funding Opportunities: Startups often face hurdles in securing financing. To address this, the government has established a Fund of Funds with a corpus of INR 10,000 crore, providing indirect financial support through SEBI-registered venture capital funds.
- Self-Certification for Labour and Environmental Laws: Startups can self-certify compliance with six labor laws and three environmental laws for a period of up to five years, reducing regulatory burdens.
- Tax Exemptions: DPIIT-recognized startups are entitled to a 100% tax exemption on profits for three consecutive financial years within their first ten years. Additionally, they can apply for exemptions on angel tax under Section 56 of the Income Tax Act.
- Streamlined Exit: Startups facing operational challenges can shut down their business operations within 90 days, providing a fast and straightforward exit strategy.
- Relaxed Public Procurement Norms: DPIIT-recognized startups can compete for government contracts without fulfilling the usual requirements of prior experience or turnover, opening a wide range of opportunities.
Documents Required for Start India Registration
To register your startup and obtain DPIIT recognition, the following documents are necessary:
- Certificate of Incorporation or Registration
- Proof of Funding (if applicable)
- Authorization Letter from the business representative
- Proof of Concept (e.g., website link, pitch deck, or demo video)
- Patent and Trademark details (if applicable)
- List of Awards or Certificates (if applicable)
- PAN Card of the startup
Startup India Registration Process - How Allycon can help
Step 1: Incorporate Your Business
Your startup must first be registered as a Private Limited Company, Partnership Firm, or LLP. This requires filing the necessary registration documents with the appropriate authorities. Allycon’s team can simplify this process, ensuring your business is incorporated smoothly.
Step 2: Register on Startup India Portal
Once your business is legally established, the next step is to create a profile on the Startup India portal. Here, you will need to provide essential information about your business and its operations.
Step 3: DPIIT Recognition
The final step is applying for DPIIT recognition. Through your profile on the Startup India portal, complete the DPIIT application by submitting all required documents. Our experts will guide you through this process to ensure your application is filed accurately and efficiently.
Step 4: Obtain Startup India Certificate
Upon submitting the application, you will receive a DPIIT recognition number immediately, serving as a preliminary acknowledgment. Once your documents are verified, you will be issued an official Startup India Certificate of Registration.
Choose Allycon for Your Startup Registration!
At Allycon, we specialize in helping startups navigate the complexities of the Startup India registration process. Our expert team is committed to guiding you from business incorporation to obtaining your Startup India Certificate. With our support, your startup can unlock numerous opportunities and thrive in the competitive landscape.
Contact us today to start your registration journey and accelerate your startup’s success with Allycon!
Related Business Registrations
In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.
