Startup India is an initiative launched by the Government of India in 2016 to support entrepreneurship and promote economic growth through innovation.
This scheme encourages startups by offering tax exemptions, funding access, mentorship, and easier compliance norms.
Eligibility:
- Entity should be a Private Limited Company, LLP, or Registered Partnership
- Less than 10 years since incorporation
- Annual turnover should not exceed Rs. 100 crore
- Working towards innovation or improvement of products/services
Benefits:
- 3-year income tax holiday
- Fast-track patent registration at reduced cost
- Easy access to government tenders
- Self-certification for 6 labor and 3 environmental laws
Registration Process:
- Register the company on MCA/ROC portal.
- Create an account on startupindia.gov.in
- Fill the Startup Recognition Form.
- Upload documents like company registration certificate, PAN, business details.
- DPIIT will issue a recognition certificate.