Start-up India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities. This articles explains how to register Startup in India. A startup is a new or existing business, usually small, started by one or a group of individuals. What differentiates it from other businesses is that a startup is:
- Aims to improve products or services
- Is a Scalable business model
- Leads to employment generation or wealth creation
There are 7 Steps to Register Startup in India:
2. Check if you fulfill other conditions: If your business is already incorporated, then check if you fulfill all other conditions to be recognized as a Startup:
-Your business must be incorporated in India not before 7 years. (10 years for Biotechnology sector)
– The total turnover of your business must be less than Rupees 25 crores per year.
– Innovation is a must– the business must be working towards innovating something new or significantly improving the existing used technology.
– Your business must not be as a result of splitting up or reconstruction of an existing business.
3. Register in Startup India: Register your entity as a Startup after providing necessary details and documents such as:
– Name and Address of the business entity
– Registration Number of the business entity
– Name, Address, Mobile Number and Email Id of the Authorized Representative
– Name, Address, Mobile Number and Email Id of the Directors/Partners
You can register here
4. Submit documents: The only mandatory document that needs to be submitted for registering as a Startup is the Incorporation Certificate or Registration Certificate of your entity. You may submit any document that adds value to your application and justifies how you are eligible to be recognized as a startup.
5. Provide Brief note on innovativeness/scalability of business model/ potential of employment generation/ wealth creation: This is the most important part of the application and should be carefully drafted with full details and justification of the innovativeness and scalability of your business model. Your idea should be communicated right across in brief and in simple terms.
6. Self Certification: After completing all the above steps, you need to self -certify the application stating that all the conditions stated by the government are fulfilled by your organization and therefore it may be considered as a business covered under the definition of Startup.
7. Submit the application: Submit the self-certified application form. The Certificate of Recognition for Startups will now be issued after examination of the application and documents submitted. If you application is selected, you will be issued a Startup Recognition Certificate issued by the Government of India on an online basis. The Certificate and then be used for availing all the benefits available to a recognized startup.
We hope with the above steps you will be able to register your startup in India. If you need any help, please contact us at [email protected].
Nikita Bhatia is the co-founder of VenturEasy, an online platform for Company registration, book-keeping, accounting, tax consultancy and legal compliances in India. A Chartered Accountant and company secretary by profession, she has wide experience in the fields of audit, accountancy, taxation and corporate governance.