Startup India

Startup India is a flagship initiative by the Indian Government, aimed at fostering innovation and nurturing startups to drive sustainable economic growth and create substantial employment opportunities. The initiative empowers startups to thrive through innovation and strategic design.

Key Objectives of Startup India Movement:

1. Enhanced Infrastructure: This includes the establishment of incubation centers to support startups.

2. IPR Facilitation: Streamlining intellectual property rights (IPR) processes, such as easier patent filing.

3. Better Regulatory Environment: Providing tax benefits, simplifying compliance, facilitating easier company setup, and expediting regulatory mechanisms.

4. Increased Funding Opportunities: Creating a conducive environment for startups to attract funding.

5. Networking Database: Providing an extensive networking database for entrepreneurs and stakeholders in the startup ecosystem.

Eligibility Criteria for DPIIT Certificate of Recognition:

1. Period of Existence: The company should not exceed 10 years from its formation.

2. Type of Entity: Recognition is provided for Private Limited Companies, Limited Liability Partnerships (LLPs), or Registered Partnership Firms.

3. Annual Turnover: Firms should have an annual turnover of Rs. 100 crore for any fiscal year since their inception.

4. Original Entity: The company should not have been formed by splitting up or recreating an existing entity.

5. Innovative & Scalable: The entity should be working on developing or improving a product, process, or service, with a scalable business model and high potential for wealth and employment creation.

Procedure to Obtain DPIIT Certificate:

1. Incorporate the Business: Register the business as a Private Limited Company, Partnership firm, or LLP.

2. Register with Startup India Scheme: Enroll the business in the Startup India Scheme to be eligible for the DPIIT Certificate.

3. Apply for Startup Recognition: Access the Startup India Recognition portal, providing necessary details about the entity.

4. Startup Recognition Number: After approval, the startup receives a unique recognition number, facilitating registration for tax benefits.

Benefits of DPIIT Recognized Startups:

1. Self-Certification: Allows startups to self-certify compliance under Environmental Laws and Labour Laws.

2. Patent Application: Reduced fees on patents, trademarks, copyrights, and fast-tracking of patent applications.

3. Public Procurement Norms: Opportunities to list products on Government e-Marketplace with exemptions.

4. Easy Winding up: Streamlined process for company winding up within 90 days.

5. Funds and Credit Guarantee: Eligibility for funds of funds and a credit guarantee fund through SIDBI.

6. Tax Exemptions: Exemption from income tax for three consecutive fiscal years out of the first ten years since formation.

Why Choose Speed Filings?

Speed Filings is a trusted partner for startups seeking recognition under the Startup India initiative. With expertise in navigating the regulatory landscape, Speed Filings simplifies the complex process of obtaining startup India recognition, ensuring compliance and maximizing the benefits and incentives offered by the program. Choose Speed Filings to focus on your core business activities while effortlessly navigating bureaucratic hurdles.