How Can I Register a Startup Under the Startup India Scheme
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What Is Startup India Registration?
Startup India registration is the process of enrolling your business under the Government of India’s Startup India initiative, launched in 2016 to foster entrepreneurship. Managed by the Department for Promotion of Industry and Internal Trade (DPIIT), it recognizes eligible startups, granting access to tax exemptions, funding, and simplified compliance. For Bangalore startups or any Indian venture, this means official recognition as an innovative entity. Advisorate simplifies this process, helping you kickstart your journey with expert guidance!
Why Should You Register Under the Startup India Scheme?
Registering under Startup India unlocks a supportive ecosystem for Indian startups, crucial in competitive hubs like Bangalore. It reduces financial and regulatory burdens, letting you focus on innovation. With over 90,000 startups recognized by 2023 (per government data), this scheme drives economic growth and job creation. Without registration, you miss out on tax holidays, investor incentives, and government tenders—vital for scaling. Advisorate's advisory ensures you don’t miss these game-changing perks!
Benefits of Registering Under the Startup India Scheme
- Tax Exemptions: Enjoy a 3-year income tax holiday under Section 80-IAC and angel tax relief.
- Funding Access: Tap into the ₹10,000 crore Fund of Funds or Seed Fund Scheme.
- Easy Compliance: Self-certify for 6 labour and 3 environmental laws.
- IPR Support: Get 80% patent fee rebates and fast-tracked applications.
- Government Tenders: Bid without prior experience or turnover requirements.
Step-by-Step Process to Register a Startup Under Startup India
- Incorporate Your Business: Register as a Private Limited Company, LLP, or Partnership Firm via the Ministry of Corporate Affairs (MCA).
- Check Eligibility: Ensure your startup is under 10 years old, has turnover below ₹100 crore, and focuses on innovation or scalability.
- Visit Startup India Portal: Go to startupindia.gov.in and click “Register.”
- Create a Profile: Enter your name, email, mobile number, and verify with an OTP sent to your email.
- Apply for DPIIT Recognition: Log in, select “Apply for DPIIT Recognition” under the Recognition tab, and fill in business details.
- Upload Documents: Submit incorporation proof and a brief on your innovative idea (PDF format).
- Submit Application: Review and submit—DPIIT issues a recognition certificate if approved.
Documents Required for Startup India Registration
- Incorporation Certificate: From MCA for Pvt. Ltd., LLP, or Partnership registration.
- PAN Card: Of the company and directors/partners.
- Business Description: A pitch deck or write-up explaining innovation/scalability.
- Identity Proof: Aadhaar/PAN of founders or authorized representative.
- Address Proof: Registered office utility bill or lease agreement.
- Recommendation (Optional): From an incubator, investor, or government body endorsing your innovation.
Timeline for Completion
- Incorporation: 7–15 days via MCA’s SPICe+ process.
- Profile Creation: Instant upon OTP verification.
- DPIIT Recognition: 2–15 days post-submission, assuming no queries (typically 2 days for existing entities).
- Total: 10–30 days, depending on preparation and MCA speed.
Frequently Asked Questions
1. Who can register under Startup India?
Private Limited Companies, LLPs, or Partnership Firms under 10 years old with turnover below ₹100 crore, focusing on innovation or demonstrating potential for scalability.
2. Is there a fee for Startup India registration?
There is no government fee for DPIIT recognition itself. However, standard incorporation fees (approx. ₹2,000–₹15,000) apply depending on the chosen business structure (Pvt. Ltd., LLP, etc.).
3. Can Bangalore startups apply online?
Yes, absolutely. The entire Startup India registration process, including DPIIT recognition, is handled online through the official portal: startupindia.gov.in.
4. What if my startup isn’t strictly "innovative"?
While innovation is key, the scheme also recognizes startups that develop or improve products, processes, or services with a high potential for employment generation or wealth creation (scalability).
5. How long does DPIIT recognition last?
The DPIIT recognition is valid for 10 years from the date of your startup's incorporation or until your company's turnover exceeds ₹100 crore in any financial year, whichever comes first.