Startup India Registration

Startup India Registration

The Startup India Registration initiative, launched in 2016 by the Government of India, aims to transform India into an innovation hub. Recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), startups enjoy benefits like tax exemptions, funding, and simplified compliance, fostering innovation, job creation, and economic growth.

Eligible startups (under 10 years old with turnover below ₹100 crore) gain cost reductions on IP filings, fast-tracked patent processing, and tender access without prior experience. Financial support from schemes like the Fund of Funds and Seed Fund Scheme, along with mentorship and networking opportunities, boosts growth. Vakilsearch simplifies the registration process, enabling startups to scale efficiently.

What is Startup India Scheme ?

The Startup India Scheme is a flagship initiative launched on January 16, 2016, by the Government of India to transform the country into a hub for innovation and entrepreneurship. The program's mission is to shift India from a nation of job seekers to one of job creators. Managed by the Startup India Team under the Department for Promotion of Industry and Internal Trade (DPIIT), it offers startups financial support, mentorship, and favourable regulations to eliminate barriers and accelerate growth.

Objectives of the Startup India Scheme

The primary goal of Startup India is to enhance product development, innovation, and job opportunities in India.The three main pillars of Startup India include:

1. Funding Support and Incentives: Providing financial assistance and incentives to startups across the country

2. Industry-Academia Partnership and Incubation: Fostering collaboration between industry and academic institutions, and supporting incubation programs

3. Simplification and Handholding: Streamlining processes and offering guidance to help startups navigate challenges and scale effectively.

Documents Needed for Startup India Registration

Applicants must submit specific documents to prove their startup's authenticity, business plan, and financial standing. Only verified startups can benefit from the scheme. Here is a list of documents required for Startup India Registration:

• Company incorporation or registration certificate
• Funding proof - If applicable, evidence of any financial backing received
• Authorisation Letter from the company’s authorised representative
• Concept proof like Business Plan, Pitch Deck or a video demonstrating the startup's idea
• Patent and trademark details
• List of awards or certificates for your startup
• PAN (Permanent Account Number)

Startup India Registration Process

The Startup India registration process consists of several essential steps, from incorporating your business to obtaining DPIIT certification. Carefully following these steps and ensuring all documents are accurate is crucial for a successful registration. Here are four steps to register for Startup India:

• Step 1: Company Registration: Incorporate your business as a Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP) by registering it with the Ministry of Corporate Affairs (MCA) or the Registrar of Firms based on your business structure.
• Step 2: Register on the Startup India Portal: Create an account on the Startup India portal (startupindia.gov.in). Complete your profile with details like incorporation information, business address, and sector. This portal is the official gateway to access Startup India resources, so ensure accuracy to avoid delays.
• Step 3: Apply for DPIIT Certification: After completing your profile, apply for DPIIT (Department for Promotion of Industry and Internal Trade) Certification. Submit an online application with documents such as the Certificate of Incorporation, business plan, and financial statements. Once approved, you will receive a unique recognition number to officially register your startup.
• Step 4: Final Completion Checklist: Before submission, review a completion checklist to confirm all information is accurate and documents are properly uploaded. Verify that all required forms are filled out and that your contact details are correct. This minimises errors and speeds up the approval process.

How Vakilsearch Can Help in The Process ?

At Vakilsearch, we make the whole process of Startup India registration streamlined so that you can focus on what matters—growing your business. We offer a fast, secure, and entirely online process for delivering your Startup India registration certificate within three to five working days. All that we ask for is three simple documents, and you can start right away!

Steps to Get DPIIT Recognition

DPIIT recognition (Department for Promotion of Industry and Internal Trade) is a crucial milestone for startups seeking government validation and access to tax benefits under the Startup India Scheme. This certification boosts a startup’s credibility, unlocking incentives, funding opportunities, and resources essential for growth and expansion.

What is DPIIT Recognition and Why It's Essential

DPIIT recognition is an official certification by the Indian Government that validates a startup's eligibility for the Startup India Scheme. This recognition not only enhances a startup’s legitimacy but also unlocks key benefits like tax exemptions, funding opportunities, and simplified compliance processes. It connects startups to a supportive entrepreneurial ecosystem, helping them access crucial resources for growth and expansion.

DPIIT Recognition Process for Startups

1. Register on the Startup India Portal: Log in or sign up at startupindia.gov.in to create an account.

2. Apply for DPIIT Recognition: Fill out the DPIIT Application Form with details such as your business objectives, sector, and scalability potential. Attach mandatory documents like the Certificate of Incorporation, business plan, PAN, and any IP registrations if applicable. Ensure all documents are accurate and up-to-date.

3. Declaration and Submission: Confirm that your startup meets the DPIIT criteria by checking the self-declaration box, affirming that your business focuses on innovation and development.

4. Receive DPIIT Recognition Number: After submission, your application will be reviewed. Upon approval, you'll receive a DPIIT recognition number, officially registering your startup under the scheme.

Startup India Registration Certificate

The Startup India Registration Certificate serves as proof of authenticity, enabling a startup to achieve tax exemption, funding, and compliance support provided under the Startup India Scheme. It is therefore very important for the attainment of a startup looking to grow in the startup ecosystem of India.

How to Get the Startup India Registration Certificate?

After the Startup India registration is successfully done and DPIIT gives recognition, the DPIIT issues a registration certificate. For obtaining the certificate

1. Complete the DPIIT Application: Ensure all necessary documentation is submitted and meets DPIIT criteria

2. Application Review: Post submission, the DPIIT will review the application. If approved, the certificate is issued

3. Download the Certificate: Upon approval, the registration certificate can be downloaded from the Startup India portal, serving as proof of registration.

Compliance and Post-Registration

After registering under the Startup India Scheme, there are several important steps to take to ensure the business maximises the available benefits while maintaining compliance with legal and regulatory requirements.

Steps to Take After Receiving Your Registration Certificate

Once officially registered under the Startup India Scheme, you will have to make sure that your business avails all the relevant benefits while staying compliant with legal and regulatory requirements. Here are 4 main things to do as soon as you receive your startup india registration certificate:

• Check for errors: Make sure that all the business information is correct
• Use the Benefits: Make use of government benefits like exemptions from income tax, granting provisions, and funds available, along with all relevant documentation and application forms properly filled to enable the benefits
• Registration of IP Protection: If eligible, file inventions associated with intellectual properties through patents or trademarks by utilising the schemes provided by the government to have a reduced fee
• Prepare compliance checklist: State-specific requirements for the startup India scheme and action plan for compliance obligations
• State-specific benefits: Certain states have their specific schemes. Investigate local schemes to avail of more benefits like subsidies, mentorship, and networking.

Startup India Registration Case Studies or Success Stories

Paytm started in 2010 by Vijay Shekhar Sharma changed the way people perceived transactions since it introduced digital wallets, payment gateways, and an array of financial services.

Being aware of the advantages of Startup India Registration, Paytm secured official recognition as a start-up in this regard. This registration, in turn, provided them with various schemes launched by the government along with incentives and support mechanisms, thereby helping Paytm overcome its initial strain. Recognition enhanced their credibility, and they attracted investors and entered into strategic partnership.

Startup India Scheme Latest News

9 Oct 2024: Amazon India has collaborated with Startup India and DPIIT to help the scaling of startups through e-commerce; eligible startups can register on Amazon's marketplace through a dedicated page on the Startup India portal, thereby accessing the domestic markets, mentorship from the leaders of Amazon, and logistics support.

The collaboration is also integrated with services of Amazon Pay, AWS, Amazon Business, and more. These services are educative to encourage entrepreneurship among startup companies while targeting women entrepreneurs specifically by the Saheli program. The partnership also offers BHASKAR-a platform designed to better the collaboration between startups, investors, mentors, and government bodies. This initiative stamps Amazon's efforts towards the promotion of innovation and support for the startup ecosystem of India.